How to Wholesale a Deal?

[Brandon W.]

So I am going to get my very first deal under contract tomorrow and I plan on either wholesaling it or assigning the contract to someone else. My questions are how to show my project to other wholesalers? Do I just show them my contract and start emailing it to other wholesalers? Also if I decided to assign it to someone do I have to create an addendum or assign agreement and have them sign and agree to pay me a certain fee?

Any help will be very appreciated, thank you BP...

[Account Closed]

If you are planning on assigning the contract, first the buyer will probably want to see the contract because they would be filling your shoes and will need to agree to any contingencies in your contract. But I wouldn't just email it out, have a cleaned up version (no personal info) ready for if a buyer wants to see it. Also, when assigning a contract the buyer will see what you're making. You will need to fill out and sign an Assignment of Contract which lists your fee.  Secondly, if the house is any type of foreclosure you will probably not be able to assign it. This is where a double closing comes in.  Personally, I have a ConstantContact account, and whenever I have a deal I put together a pretty email with pics, numbers and comps. I also instruct the buyers to contact me directly via phone. I found my buyers through craigslist and here in the BiggerPockets pro marketplace!