All Forum Posts by: Roland Paicely

The contracts are usually pretty simple.  They are a one page or two page document.  It will have the basics and needed information.  Such as the name of the seller, buyer(you), the right to assign, the address of the property and the price.   I'd guess that you can figure out every line.

Since you’re moving. Will you be wholesaling in your current area or your new place?

Uh oh!

My opinion is that most wholesalers view it without a contractor or inspector. However, the investor/buyer will either do their own inspection. Because they may have enough knowledge in that area. Or bring their inspector/contractor with them. 

Wow, you have a deal on a house that's only costing you $3,000.  Congratulations!  The things that should be in the contract are:

The address of the house and legal description

The parties involved:  the seller and yourself

The price that you are buying it for

Your contract is assignable

Signatures and date

Deposit amount

Any contingency clause(s)

Some will say that finding the seller is the first step.  Others will say the buyer.  Take your pick on that one.  Call the owners if you have their phone number.  If not then send them a letter.

A different step can be:  find experienced wholesaler and learn as much as you can by working with them.  This can increase your learning curve, cut down or stress and errors.

"The seller is ready to sell".  Does that mean that you've already negotiated and agreed on the numbers with the seller?  Or is that you feel that the seller is ready and you want to know what's next?

It's been so long I'm not 100% sure what I did. However, it was either a property that was listed on the MLS or it was a probate deal.

Some investor buyers will bring their contractor with them when they go see the property.  Other than that, when you sign with the wholesaler you are buying.

I haven't done any wholesaling with land.  However, I'd suppose that it's basically the same as with a house.  Find a deal in which the numbers make sense.  Get a buyer and close.