Buyers - Before or After?
So I am a college student with a non-existent credit score and zero in my bank account. I have no job because I live with my mom and go to college. I am a junior.
My goal is to do one real estate deal before I graduate. If I do not succeed I will perform seppuko on account of my dishonor. (jk)
Question: Let's suppose I do the hard work of finding one person desperate to sell their property. They call me and I say something like (I have no idea what I'd say, haven't looked that up yet), "I can get your property off your hands, lets meet at the house." Then he wants to sell it.
What then? Do I tell him I'll buy it, just let me get back to you later? Then go find a buyer? Or do I need a buyer before I find the seller? Because it would be real awkward if you got so far in the deal with the seller, only to have to wait a while to find a buyer right? I'm confused at this part. I would want to be honest I am wholesaling, and can get it off their hands for them while making a profit. What if the buyer doesn't buy and you have the property? What is the paperwork like?