wholesale or fix & flip

[Adrian Lee]

I have been researching and doing my homework on real estate investing for some time now. At first I wanted to get into the rental aspect of real estate investing, but as of the past few days I've been looking at other strategies and the wholesale strategy sounded easy. I think it sounds to easy correct me if  Im wrong, I came across this post on a website of an active real estate investor.

You simply put a house "under contract" to purchase at a certain price and then find someone to pay more than your price. You keep the difference as your profit without even buying the house. NO cash down payment, NO credit or loan s needed...

Is this correct? Is anyone using this strategy? Please someone let me know if this only can be done in certain markets.