Updated over 14 years ago on . Most recent reply
Wholesale Newbie
Hey guys,
I've read a lot of material about wholesaling and in theory it is the best way for me to break into real estate investing because I don't have much money.
I have 2 main questions....
1) When you approach a seller, do you straight up tell them that you are wanting to assign there contract to one of your investors? Or do you tell them you are going to buy it but meanwhile find investors to flip the contract to? Are there advantages of one way or the other?
2) Where can I get an assignment contract to use for my wholesale deals? I would need one that would contain an escape clause or an addendum that says something along the lines of me being let out of my contractual duties if my partner decides to decline in buying the property. While if I cant find an investor I bring "my partner" to the property and he decides not to buy the house, therefore relieving me of my contractual duties.
Hope this makes sense. Thanks guys! :D