Steps to get a wholesale property under contract
Hi everyone! I just joined BP earlier today, and I'm new to REI. I've been reading posts on here all day and it seems to be a great resource! I wanted to get my feet wet by starting with wholesaling. However, I'm not quite sure how to go about getting a property under contract. Here are a few questions I have:
1. Should I tell the seller I am a wholesaler? If not, what do you say to them when they ask why you are interested in buying the house?
2. How much money is needed to put down in earnest money?
3. What is the typical length of time between the day it is placed under contract to the closing?
Thanks for all of your help in advance! I'm looking forward to what you guys have to say.
Ben