Wholesaling for Initial Capital for Buy and Hold

[Landyn Neumann]

Hello BP, I am a new investor out of the Virginia Beach area looking for some advice. My partner and I want to get into long-term buy and hold but the current issue we’re facing is finding funding for our first deal(s). We’ve contemplated hard money but also wanted to consider Wholesaling a few properties to build capital. Our first concern with Wholesaling is when we get a property under contract, and if for some reason we can’t find a cash buyer, what exit strategies are available? Also, what clauses do you include in your contracts (to limit risk) with the original seller and for the new buyer? Any advice is appreciated!

[Kristopher Kyzar]

@Landyn Neumann I use a feasibility study clause in my purchase contracts. It basically gives me the option of if it doesn’t turn out to be a feasible outcome, I can cancel the contract. I’ve never had to use the clause , but it’s a good option.