Exact steps for wholesaling?


I’ve found a property that I can get for 65% of FMV. I sign a contract with the seller which allows me to assign to someone else. I’d now like to wholesale to another investor for a 5% fee. I already have an investor lined up. Now what? How do I assign to the investor? What exact forms do we need to complete the transaction?

You need a purchase and sale agreement and an assignment addendum. Various states have real estate commissions similar to Texas’ TREC. TREC has forms you can download and use for the P&S agreement, while there are many assignment addendums floating around on this board and on the internet.

If I were you I’d search the archives here and I’m sure you’ll find much more information from folks who have answered this type of question before. Some people even write their own contracts to make it more simple for them and the seller, so opinions vary here. Search the archives - you’ll find a lot of information on contracts!