Just starting out, could use any advice about wholesaling

[Brian Christensen]

I recently decided to start investing, but I have basically $0 start up money. So I decided to start with wholesaling. I know the basics of how it works, and how to find deals and such, but now its the technical stuffI need advice on. So I have a few questions that if anyone can answer, it would be greatly appreciated.

1. Contracts...where do you get yours from? How do you fill yours out?I've read in many places to leave $0-$10 earnest money, is that a good idea? I also read to add in a clause that states if your "partner" doesnt apporve the deal (meaning if you can't find an investor), you can back out of th contract with no penalties. Does that sound like a good idea also?

2. When presenting a deal to an investor, if it is accepted, what assignment contract do you use? What is the standard for figuring out your assignment fee? I've read that depending on the equity, your fee should be between 5-20%.

3. When rearching a possible seller/deal, what attire should be worn? If I'm visiting a house to get all the info on the house and negotiate a deal, is suit and tie necessary, or is just nice pants and button up shirt okay?

4. What are some ways you have found investors? I have seen that posting ads about potential deals, going to forclosure auctions and talking to the ones who didnt win the house, and just calling investor companies. Do those sound good? Are there any more?

5. Also, I wanted to know if the money I collect for assignment fees is tax free or if I have to report it on my tax filing.

Like I said, I have the basic idea down, and I have started to draw up a plan, but I still need some of the technical details. Any help will be greatly appreciated.

Thanks!