how to make wholesale contract for California

Question

Hi there im Diego im a beginner  in real estate.Trying to start wholesaling in orange county ca..got a couples leads but dont know how to make contracts or put assignment  clauses. Call couple attorneys in my area but seemed they didnt know wat i was talking about and some told be it is illegal.also how do i find a good real estate  attorney that knows what wholesaling is.

Joe Homs · Answer

@Diego Clavel Welcome to BP. There is a meetup in Lake Forest tomorrow (sorry for the short notice) but bring your questions and ask them there. We meet every month. PM me for location.

Account Closed · Answer

Diego,

Welcome!

A real estate attorney is not usually the way to go to get those docs.  They don't typically understand what you are doing and often tell you it is not legal.  They do that to protect themselves.  Obviously wholesaling is legal.

I am in Orange County as well.  I highly recommend that you take advantage of the training on this website to learn more about investment and wholesaling.  There are a lot of rabbit holes you could go down that are a big waste of time/money.

Usually when you take a course on wholesaling they give you some sample docs you can use.

If you would like to talk more about this, you can contact me directly.  I am happy to give you some suggestions/guidance.

Aaron Mazzrillo · Answer

I sent you a colleague request. I can help you.

Brian P. · Answer

Diego

Take up the advice of others, go to a meetup or reia meeting. Almost all investors I know are willing to share their contract but if they won't don't sweat it. I know a new investor that just went to the seller in a deal with one of the heavy hitters in town and gave him $20 for copies of the paperwork.

In my early years I had someone do that to me, paid one of my sellers $100 but it was a waste of money, at the time the wholesalers had sort of a MLS and co-oped and wanted a standard contract to work with, he could have asked any one of us for a copy for free or at the most the cost of a breakfast or lunch.

Attorneys, there are many out their that graduated at the bottom of their class and end up as divorce or real estate attorneys.  Any lawyer that says it is illegal should be put in you address book as an idiot and you make sure others know about him. I knew one in the Silicon Valley that used to tell people that just to keep the competition down, he was a wholesaler on the side.

how to make wholesale contract for California

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