Every Detail on Wholesaling properties

[Jerry Maggiore]

I’m trying to make extra money by wholesaling houses or even land. So how exactly do I do it?

Let’s say I found the distressed property that’s not on Zillow or anywhere. I get the owners information and we get a deal going. Houses nearby are going for $300k. Let’s say I can get this one for $150k but needs $50k in repairs. I don’t want to do the repairs so I then find a buyer to renovate and buy it from me for $180k.

Now how exactly do I purchase the home and how do I sell it? Do I have to take out a mortgage? And what mortgage or what’ alternatives can I take.

Someone once told me that I don’t have to do anything because I’m not actually going to buy it?

I’m confused on the process.

Thank you guys/girls so much for the responds

[Mark Anthony Alvear Jr]

Hey @Jerry Maggiore, great question man, I’m a newbie to this thing like you, I’m curious what professionals have to say about your question!