Can somebody please tell me is it that easy to wholesale?

Bird Dogs, Wholesaling
1

Hello Everyone,
Can somebody please tell me if its that easy to wholesale? Is it just this ease find a property get it under contract and the flip it to a end buyer? Is there any thing that I need to do as far as lawyers or anything else?
Can it just be me the seller and the buyer involved or is there anybody else that need to be apart of the transaction?

Thanks

2

The actual mechanics of a wholesale deal are not that complicated.

The hard part is figuring out what a deal is, how to find it, and who to sell it to. Those things take a lot of time and effort. Learning your market is not something you can do overnight.

It’s not a get rich quick type of thing, if that’s what you’re asking.

Steph

3

I understand that its not a get rich quick thing but if I have someone who wants to sell a two unit property and I buyer who wants to buy a two unit, than how would I set the deal up?

4

sign a purchase and sell agreement with the seller and sign a assignment of contract with d buyer xchange for a assignment fee …

5

The hardest part for a beginner is finding the deals. The reason is that we don’t know what a deal is. I am struggling with this right now. The way I’m trying to go is

  1. getting to know wholesalers in my area to figure out what they like.
  2. Try to help them sell properties which helps me figure out price points
  3. Keep marketing for properties and passing any leads I get to my new wholesaler friends who will then tell me quickly if it’s something they are interested in.

That’s where I am now, but I’ll figure it out eventually

6

Sorry if I misunderstood your question…

If you already have a seller and a buyer lined up, then yes, it is a fairly simple process.

Like WholesaleKid said- get the property under contract with the seller, and then assign the contract to your buyer using an assignment of contract agreement. The assignment agreement is a simple document that states you are assigning your rights in the contract over to the buyer for X amount of dollars (your assignment fee).

Once you get the contract and assignment signed (and a deposit from your buyer), take everything to your title company so they can begin the title work. Unless you can convince your buyer to give you your assignment fee upfront (I’ve never been able to do that), you will get your check (issued by the title company) once the deal closes.

Hope that helps.

Steph :cool

7

Wholesaling and creative real estate is a simple business. Is it easy? Not always.

You need to be able to get through the learning curve as soon as possible, and
that means making mistakes. Don’t worry, the mistakes you make will not cost
you $$$, it may cost you a lost deal, embarassment, etc., but nothing to worry
about.

Going at it alone definitely makes it harder, so it’s important to have a partner,
an accountability partner, mentor, coach, or friend that backs you up and supports
what you’re trying to do.

Wholesaling is as simple as putting a few pieces of paper together. You do have
to have the network, or team in place, you need patience, you need a certain
level of professionalism, and you need a whole lot of perseverance…

Learn how to do wholesaling with no money, learn how to wholesale ugly houses
and even pretty houses and you will have built a strong foundation for your
real estate business…

HTH