How to do wholesale real estate

4 Replies

@Malik Gatewood this is a big question. 

The 30,000 foot view. You find a property that is off market for less than market value, put an agreement together with the seller to sell the property, find a buyer (rehab/flip investor), sell the house to the flipper for $5K/$10K above what you are in agreement with the seller for and you get that $5K/$10K in your pocket. 

The seller gets the money you agreed to get them, you get your "wholesale fee" and the rehab investor gets a property that they can go fix up and put back on the market. Look at it as a win-win-win for all parties and you'll be very successful as a wholesaler. 

Originally posted by @Malik Gatewood :

@Peter Mckernan where would you recommend getting the agreement? How do you find investors or flip?

You can have it drafted from an attorney, get it from a local wholesaler that you development a relationship with or even a flipper that maybe does some wholesaling on the side. You can look in a lot of different areas to get an agreement. 

Find local investors/Flippers: local meetups, check the MLS for properties that look like they were flipped and contact the owner or agent to get ahold of the owner, agents in your local market that work with flip/rehab investors, seeing an ad on the side of the road for we buy houses cash or any ad you see like that call the number.