Wholesaling

[Andrey Gulyy]

Hello there,

Andrey Here,

Im about to start my first campaign (bandit signs).

But before I do that ,I just had a quick few questions.

Forgive me if this is a dumb question.

If i see a property for 200,000. The equity on it is 50,000. In the wholesaling process . How does the bank get the money that is owed them. That 50,000?

[Elio L.]

Originally posted by @Mohit Madaan:

what happens if you are not able to sell the property as a wholesaler while you have the property in contract? Do the seller gets to keep down payment?

Normally wholesalers will have some sort of "out clause" that will enable them to cancel the contract if they can't get their "partners approval" or if it doesn't "pass inspection" within a certain number of days. In that case, the money is returned to the wholesaler.

Often times, if a wholesaler is unable to find a buyer at a certain price he will go back to the seller and renegotiate that price and terms of the agreement.