no money to wholesale

Bird Dogs, Wholesaling
1

Hello everyone,
I dont understand when people say that you can wholesale properties with no cash how is that possible when you have to pay for inspects, title fee, lawyer fees etc. Can someone please explain to me.

2

Hi,

 If I wholesale a property over to another investor "As Is" I am not paying any of these cost's out of my pocket, my end buyer will pay for an inspection or appraisal if he requires it, and escrow fee's and cost's are paid in escrow out of the profit dollars on my net sheet.

When I find a good property I don’t personally want or need at that moment I market it to my investors list, get a commitment and get the investor to close hard money.

I hope this helps you understand as I don’t have time to write the whole process out tonight.

Good luck,

             GR
3

What if the end buyers don’t pay for the fees?

4

These fees are part of the closing costs and usually the end buyer pays the closing costs unless the wholesaler and end buyer agree to split the closing costs.

5

If the deal is good enough the end buyer doesn’t mind paying the fees. If it becomes an issue you can always drop the price to compensate for the closing costs.

6

So the only thing that i need to do is get a property under contract find a end buyer and fax both contracts over to title company and thats it or am i missing something?

Thanks

7

That sounds right, also make sure you get at least 1k up front from your end buyer to secure the deal.