Can someone please detail the wholesaling process from A to Z including details and any pertinent information including costs, risk, contracts, etc. or recommend a good book for the wholesaling and furthermore the investing process.
This is a complex topic. Use the search function here at BP on these topics:
Develop a list for marketing, if using direct mail.
Market for motivated sellers: direct mail, seo, bandit signs if legal in your area, car wrap, cold call, door knocking.
Situations to make someone motivated, otherwise "distressed" situation (i.e. the folks you target your marketing towards): late mortgage payments, divorce, late property tax, arrest, inheritance, tired landlords, job change.
Answer the phone and talk with sellers. Determine motivation, price.
Meet at house. Talk with sellers. Negotiate price, to include repairs needed and your profit.
Get house under contract.
Line up transactional financing for your side of the transaction.
Market to your buyers...other investors, or sell directly to end user.
Go to title or lawyer for your closing with your seller with your transactional funding, or the new buyer's funds if possible. Line up your closing as you sell to your buyer.
Welcome to Biggerpockets!
You may want to take a look at the ultimate beginners guide real estate wholesaling about by Brandon Turner as a starting point.
There are also a lot of real estate networking events in NY and Brooklyn that revolve around wholesaling. Please check the event section of biggerpockets or meetup.com
Are you referring to flipping or using contracts to work as an unlicensed broker. If you want to work as an unlicensed broker you have several things to consider including your state laws, FRAUD BY INDUCEMENT if you put properties under contract with no intention or ability to close, best ways to trick a seller into signing a contract with you, how to deceive them when you want to show the house, and more.
WOW you want to know everything from A to Z. Every detail that people spend tens of thousands of $$ and years to accumulate the knowledge. And you want it on a public forum, for free.
I think you need to do a little research on your own, maybe fill out your profile, maybe see what has already been said about the subject before you ask everyone to give you all kinds of info on a silver platter for you.
If you have done some research or have a single question about the process, well that would be different. You are asking quite a bit for your first day on the forums. See what is on the site. Lots and lots of questions have already been answered. You just have to spend just a few minutes to look for it.
Sometimes the things that you work for tend to have more value.
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