New to wholesaling and in need of advice,.

7 Replies

Hello,

I am fairly new to wholesaling and have a few questions on how to start. I have read many forums, and listened to tapes, videos, and audio books. I have a decent understanding but would like to get a little more in depth answers so I make as little mistakes as possible! any advice helps!

@Lukasz Maj  

What questions do you have about wholesaling? The process, marketing, ect? Please be more specific so we can help you out.

@Justin Howe

Thank you for replying! My main question in regards to wholesaling is the overall process. I know about finding cash buyers, sellers, and how to start searching for properties for qualified buyers. I start getting lost when it comes down to the legal parts like putting a contract on a place, presenting it to the investor with proper documentation and contracts, and basically how to get the ball rolling from there.

Thanks in advanced!

@Lukasz Maj  Once you have negotiated a price with the seller, you want to put the property under contract. I use my state's purchase contract. Do a quick google search and I'm sure you can find one for your state as well. Be sure to write in the buyer section your name and "and or assigns". This will allow you to assign the contract to an end buyer (investor). Once the contract is signed, you can start marketing the property. Use Craigslist, email blasts to your cash buyers, ect. Then once you find a buyer, you will use an assignment contract and sign that with your buyer. Then take all the documents to your title company and close the deal. Good luck!

@Justin Howe  

 thank you for the information! Hopefully I  start doing some deals soon!

You also need to get with an investment friendly title company. Also decide based off of your profit if you will be assigning or double closing on your property. We double close for profits over 10k. Assign for profits under that. 

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