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