Wholesaling Basic Questions

[Derrick Sponable]

Hello Everyone, 

I'm a newbie who's very interested in wholesaling in the Syracuse Area, and focusing on doing it right. I'm looking to do my first deal within a month or two and am wondering if its possible. My questions are some of the following:

What's the best way to get into contact with potential sellers? Should I drive for dollars, get lists of pre-foreclosures and out-of-state owners from my local court? 

For people who have experience doing this, is there a best way to contact someone and see if they're interested? Cold Call? Direct mail marketing? A knock on the door? I know getting business cards would make me more legit but is it super necessary for me to get my first deal? 

I am definitely interested in double closing, as I want to make absolutely sure that everything I do is 100% legal, does anyone have any good examples of solid contracts I can use to get it under contract quickly? Is there language in a standard contract that would free me from responsibility if I couldn't find a buyer in the allotted time?

Should I hire an inspector for the property before I get it under contract? I want to make sure the property I get doesn't have any literal cracks in the foundation that I wouldn't be able see. 

What's a good metric for estimating rehab costs? I've heard $15 a square foot is a very basic concept to go off of but is there better ways to estimate properly?

Thank you all for your help!