Wholesale

[Marlana Elliott]

Hi everyone! So I have been reading a lot about wholesaling and trying to get as much information as possible before I dive and I have a question? Once you have a house under contact, you then need to find a cash buyer to sell/assign the house to, correct? Let's say worse case scenario, you're unsuccessful at finding a buyer? What happens next?

[Ross V.]

@Marlana Elliott Valid concern. Here is my advice, instead of doing a standard wholesale (finding a property --> placing it under contract -->locating a buyer), do what people refer to as reverse wholesale (find a few investors/buyers and know what their criteria is --> go locate properties            --> place under contract).

This will help you and the sellers. You can close on properties faster having buyers/investors ready. Home owners who are selling to you will be happy, because you will (most likely) not have to back out of buying. Think of it this way, when you have that property under contract, they can't sell it... which more often then not will frustrate sellers.

Hope this helps. 

-Ross