Whole Sale Question on some wholesaling steps

2 Replies

I'm in talks with a deal currently and am needing to know more about my next steps. 

In simple steps ( I know there are other details, but these are my main questions currently)

Step 1 - Get seller to sign contract

-What kind of contract? Is this the same as the "Contract to Buy and Sell Real Estate" on DORA?

Step 2 - Find funding - still looking. I'm planning on wholesaling it out or purchase with hard money and flip (but that's more liability and expense)

Step3 - Closing - How does one close without letting each party know my profit? Or is this even possible?

I know different states have different laws - I'm located in Colorado

@Seth Rouch Step 1 ) yes use DORA contracts and disclosures

Step 2) what was the question here?

Step 3) Double close is best way to keep your spread from the parties. Know that they may find out though. Title may send wrong document or something else happens and they find out. 

Really the toughest part of it all is finding a good deal.

@Bill S. Thank you for the reply. I hadn't considered a seller/buy document mix up. 

I think my Step 2 question must have cut off. The main thing I was trying to get at was finding private money to fund deals without breaking SEC laws. I also don't know how creative I'm allowed to be with financing options. I know there are a number of strategies, but I don't know the legalities behind some. i.e. borrowing a larger number of smaller amounts from more people. 

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