Interested in Getting Started In Real Estate Wholesaling in NYC

[Ronald Sohan II]

Hello BiggerPockets community,

I am a new member here, and have been going through some of the threads getting a bit of information, and acquainted with the forum.

I am a complete novice, and I live in Brooklyn, NY. I recently completed a Wholesaling 101 online course through Alpha Home Flipping, given by Nick Ruiz, where he teaches how to start Wholesaling single family homes, primarily with distressed properties/owners. This seems like an interesting, and lucrative endeavor, and I am really interested in getting started in this. I'm not sure how lucrative this business is, or what's the realistic opportunity to consistently have properties/deals in the works, but that's why I'm posting here to get some information, and feedback from more experienced members. I would appreciate reading some of your feedback of your experiences.

In the Wholesaling 101 course, it is advised to get one or two Title Companies that can do Double Closings, and Assignment of Contracts, first, before moving forward to getting deals (have all your ducks lined up first so to speak). I'm having trouble finding Title Companies that can do these types of deals. I looked through this forum and found multiple postings of members asking for investor friendly Title Companies that can do Double Closings, but don't really see any responses providing that information. Is there a reason for this? 

I'm sure with all the members here doing Wholesaling, there must be many members with information of Title Companies in various states that they work with that can do those kinds of deals. Is there a consolidated thread that would have a list of investor friendly Title Companies that can do Double Closings, and Assignment of Contracts, for each state, that members would have contributed to?

Also, I reached out to an Attorney based here in NYC who I saw post on this site, and he told me that in the NYC 5 boroughs, most real estate deals like this are done by Attorneys, rather than Title Companies. Is there a reason for this? Also the fees he quoted me seemed a bit high, around $3,000 for contracts and everything; that seems a bit steep from what I saw in the Wholesaling 101 course, and would really cut into the spread I would be trying to make. Is that the norm?

Any and all guidance and help would be greatly appreciated. Thank you.