For the past few days Ive become very interested real estate wholesaling, and I came up with a list of steps I have to take to close a deal. Im not sure whether or not this list is remotely correct, but Id like to get some feedback on it. I also have a few questions.
Heres the list:
Find a Motivated Seller by putting out bandit signs and searching online classifieds.
2.Make an Offer based on my inspection of the home and on the value of homes in the neighborhood.
3.Have the Seller Sign an Affidavit which I turn in to the title company.
4.Find a Motivated Cash Buyer by putting out bandit signs and searching online classifieds.
5.Show the buyer the home.
Please give me some feedback on whats right and wrong about this list. Im a beginner so Im not really sure about the ins and outs of wholesaling. I also have a few questions…
How do I make a deal with the buyer without the seller finding out that Im just a middle man?
When a house is being sold, several contracts are signed between the buyer and seller. Does the wholesaler sign those contracts on closing day, or is the end buyer signing them? Is the wholesaling contract the only contract the wholesaler signs on closing day?