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Updated almost 2 years ago on . Most recent reply

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Kaleigh Sanchez
  • Denver, CO
1
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9
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Wholesaling in Devner, CO

Kaleigh Sanchez
  • Denver, CO
Posted

I am new to investing and I am looking to do wholesale because I have essentially $0 to start my own. I want to get into househacking and the BRRRR method, but I need some capital for the 3.5% - and if anyone knows the prices of homes in Denver are not cheap. I'm even considering the move anywhere that I can get into my first house hack.

On to Wholesaling- I am understanding the process is pretty simple

1. find a property that needs help

2. get it under contract with the right assignable literature 

3. send the signed contract to title and escrow company (what do they do? do I pay for this service?)
4. Find buyer

5. have them put ernest money down, show up at closing with title and escrow office 

6. my check is dispersed from title and escrow office 

Ok, now what am I missing? Do I need insurance, do the money wires or check get to me directly for the assignment fee ? 
Is it really that simple? 

Also if anyone in Denver area is looking to connect, please reach out

Most Popular Reply

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2,518
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Matt M.
  • Realtor
  • Denver, CO
1,277
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2,518
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Matt M.
  • Realtor
  • Denver, CO
Replied
Quote from @Kaleigh Sanchez:

Ok, now what am I missing? 


 That's it in nutshell more or less. Title will cut you a check at closing to pickup or you can wire to your bank. However finding the deal will be the hardest part. Start talking to friends, family, etc to see who needs to sell. Leveraging your network will give you the best deals.

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