is this how wholesaling works?

Bird Dogs, Wholesaling
1

alittle confused from some last post

Would you not only want to wholesale if the property is below 70% the market value. Because that is what most hard money lenders will loan out correct?

So does wholesaling work like this:
Seller will give me the house for 20K that is worth 90k ARV .

So i as the wholesaler would find a buyer and sell it for 25K to the rehabber or buyer. Therefore I would make 5K profit.
Is that how it works?
Please help
thanks
pfen

2

Howdy Pfen:

Heck why not sell it for more than $25,000. A quick $5000 would be nice for a few hours work. You basically have the idea correct. Now find some good deals. They are out there in every market. Some are easier to find than others but there are late taxes and foreclosures and run down junkers everywhere.

Get busy and get motivated sellers calling you

LOL