Can someone explain to me how wholesaling works? I’m new to all this but I like the concept. I’m just not sure exactly what it entails.

Thanks

Hey @Brandon Abrego , I’m pretty new myself but I’ll give it a shot. I figure explaining wholesaling may help me understand it, and if I get anything wrong the BP members that are inclined to correct people can give the right information!

Through some method you find a motivated seller typically owning a distressed property. You sign a purchase and sale agreement with that person that allows for the contract to be assigned. Then you find a buyer and sell your interest in that property for a higher price than the one in the purchase and sale agreement. That's the bottom line basics.

I recommend the website thewholesalerstoolbox.com and the book The Beginner's Guide to Wholesaling Real Estate by Jeff Leighton. Both give good introductions. 

@Jon Catterson

Ok thank you very much. But ya I’ll definitely check the website out. Thanks again