How to put an offer for wholesale

[Aneela Qamar]

Hi my name is Aneela and I am in Katy, Tx. My husband and I recently invested some money in a workshop and then some. I have no experience in real estate while he is an architect and right now in construction management. But he just got extremely busy recently since he has a deadline to meet so I will be doing this on my own. I have found a real estate agent and I have access to her MLS lists. I have identified some properties for whole sale. I am not sure how to put in the offer though. First of all they are all bank owned and second, do I make an offer through the agent and then look for a cash buyer? I am finding myself stuck right now. Thank you

[Dan Mackin]

Always start by first determining if it is a deal. Dig around to see what other properties are being wholesaled in the area to see what the splits were from purchase to sale for the end buyer. 

As far as finding a buyer it is not too hard if it's an actual deal. Don't shop around until you have locked something down though. Many new wholesalers get screwed by shopping a property around before having it UC. 

For the offers you just determine what price makes sense based on your numbers and throw it in with your agent. Make sure your agent is aware of your plan so you don't piss them off. You'll likely need to figure out an offer template with them so they aren't wasting a ton of time on each offer for you. It needs to be set up so you can call or email them and they can throw an offer back to you to sign within 5 minutes or so.