quick wholesaling question

[Charles Salumn]

alright guys im still trying to figure out what direction i want to go in... i really want to be a landlord and own multiple properties for cash flow but to be honest i dont have that much money for down payments and as far as credit i'm just starting to build it up... so i am contemplating wholesaling.

My question to you is if i find a seller that is motivated everything is a go and i have the property for lets say 14- 30 days or however long the contract is for and i drop the ball and cant find another buyer... am i obligated to buy the house or does the contract become null and void?....

just trying to get all the bases covered

[Jon Holdman]

Work on both at the same time. Its not as if a seller is going to fall into your lap immediately. Its a lot like sending out resumes for a job. If you send one, and wait for a response before sending a second, you'll be a long time looking for a job.

The point about knowing what your buyers want is a good one, though. If you don't have specific criteria from buyers, be very conservative in what you agree to purchase from a seller.