I'm a newbie to wholesaling

10 Replies

Hi I recently went to a Than Merrill seminar and that's when I learned about wholesaling. I've always been interested in real estate since high school. Ive looked at many YouTube videos and read books. I'm just looking for someone to guide me through the process such as what types of forms to use for both parties, what would happen if I have a property under contract but can't find a buyer in time, etc... Im really hungry for information and I've been taking steps to market I'm just lost in the process. Any information is greatly appreciated.

I'm looking for information on what type of properties to look for,what type of contracts to use and how do I find buyers and once I have contract with the seller do I take that contract to the title company and then look for a buyer?

Kala, There is a Facebook group called Wholesaling Houses Mastermind Group. They run a 30 Day boot camp. I will be joining this boot camp.

Here is the link:
https://www.wholesalemastermind.com/p/sales-page-4d8388cc-2c8b-4002-8338-de0bb02bc9d3

If you are interested in joking this boot camp please let me know. I have access to a discounted price.

I don’t work for them just been researching like crazy and thought I’d share this with you.

Hey @Kala Miller ,

In regards to what type of properties to look for you should research what properties are going for in certain areas, look at what % of ARV properties are selling for in certain areas and the types of ROI those investors are getting. For contracts, I would look into the processes in Detroit, it's important to know if assignment of contracts or double closes are more common. Finding buyers should be the easy part, marketing your deal on BiggerPockets or Craigslist is a great way to generate a lot of leads but if you want to find buyers in that specific area do research on your county website to see who has been buying certain properties in that area. Drive around the neighborhoods, find the rehabs, and research!

Good luck!

Thanks Sam I've been D4D lately and have a total of 50. I'm in the process of marketing, I believe that I printed out the wrong seller and purchase contacts and the assignment contract I could find one on the net. I contacted legal zoom and asked if they could assist me in the contracts but they told me that they don't do that. I'm trying to build my buyers list as well. I'm just trying to figure out what contingencies to put in my contracts that wouldn't hold me responsible for the property.

I would be very leery that this is a good process if you’re basing it off information you got in a guru seminar.

You need money and a lot of it to do wholesaling well. Otherwise best case scenario is you do about 1 deal per 3 months. Which is fine if that’s what you’re expecting.

For contract info you need an attorney but that’ll cost 2-400 bucks for an hour of their time.

You can find a wholesaling contract on BP somewhere I’m pretty sure