Getting it Right - Steps & Forms?

Bird Dogs, Wholesaling
1

Greetings to all,

I have read many of your messages and heard and read the styles of Ron Legrand, Sheets, Cook, Etc… I have yet to venture into wholesaling or short saling, which are the 2 that I like the most. I find myself to be unsure of what to say or do. Maybe I’m trying too hard to get everything just right, And I seek some mentoring. I have been a realtor for about 1 year and I decided I need a faster source of income and I hope I’m on the right track. I have a hard time retaining information and seek a quick reference guide. Even though I’m only 34 yrs old my family has a bad history of alzhimer. I live iin Florida, in case it matters.
from a legal stand point.
???

To my understanding on wholesaling - I get homeowners to assign their property to me using “assignment of real estate purchase and sale agreement”
and then I find an investor and what do I have them sign? Who do I protect myself from the investor going around me?

I feel stumped by this point. Also what does one say to the homeowner to get them to assign their property to you? and what happens if you can’t find an investor?

Does anyone have a specific step by step guide that just breaks it down for me?

I would like to thank you in advance for any assistance anyone can provide.

2

Howdy Aimingfor success:

Just a little confused. You get the seller to sign the earnest money agreement or sales contract and then get the investor to sign the assignment agreement where they agree to close the sale from your buyer and pay you a fee.

It can be tricky especially if you just find a marginal deal with not much profit for the buyer or not a good enough cash flow etc. Really best to find the buyers first and find out which area and price range etc. This is hard to do because they will typically saw any area and price range as long as it is a good deal. Keep probing and asking about cracked slab deals and crack houses and fire jobs and flood zones deals. It is hard to get folks to open up especially over the phone.
Another approach is just find super deals and put an ad in the paper "Cheap house in horrible area Great potential " Keep lists of the calls and if they do not like this house feel them out on the reasons. Get them to be honest. Usually folks will shy away from saying that the deal just sucks and way too high priced at least I do.

Try to get at least 60 days to close the deal with your seller as it may take you a few weeks to find a buyer and then time to close the sale too.

3

Thanks Ted. :slight_smile: