I am just starting out in the business of wholesaling, and I need some advice. Is it advisable to get into a deal with another wholesaler, and try to wholesale that house out to the end user? Will the first wholesaler’s price be marked up too high for me to make a profit? Also, I know it’s possible for me to get into contract on a property, and sell the property to someone either at or before closing. What is the process of doing that, and what do I need to be aware of on the contracts? And where would I find those such contracts? Thanks for all your fantastic posts.
To start out, I definitely would not buy from a wholesaler and expect to sell it wholesale to someone else. There is a good chance the wholesaler you buy it from has already taken the wholesale profit.
To sell the property before you close you would be assigning it. In order to do that, you should put “and/or assigns” next to your name on the contract.
You can take a look at Steve Cook’s contract which he gives away on his site “www.flippinghomes.com”