How to wholesale properties

[Bryant Phillips]

Hey, how's it going, I wanted to know pretty much about the process of how to wholesale a property. As much information as possible please. Thank you. 

[Jarvis Bailey]

Essentially... your getting a house under contract as cheap as you can. And selling the contract at a profit.

Say it's a 225k house, arv.

You get it under contract for 130,000.

It needs $30,000 worth of work.

You find a buyer who will pay $140,000 for it.

You close and you get $10,000 assignment fee (what you sold the contract for minus your original contract price)

Buyer puts in the $30,000 of work and gets ~$55k profit. (Arv minus His buying price minus work he put into the house)