Basic Contracts

[Michael Rosine]

Hello all,

I've decided to take the plunge and try my hand at some wholesaling. I'm only going by the MLS and driving for dollars, but I have a couple leads I'd like to move on. Getting my ducks in a row means answering 2 questions:

1. How to I get a property under contract?

I can't actually afford (through cash or credit) to purchase anything at the moment, but the podcast has all sorts of people talking about "getting a property under contract." What does that actually entail?

2. Does wholesaling work for REO properties with no cash involved? Basically, can you get an REO under contract?

Thanks!

[John Thedford]

You want to sign a contract to "purchase" a property with NO ability to do so? Find another strategy. Brokering real estate without a license is not the fast money quick millions people believe it is.