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Updated over 6 years ago,
Wholesale - What are the steps?
Hello everyone. I am a Real estate investor and I have been flipping houses for a few years now. Lately my business has been growing and I have other investors that work with me in order to help them make money. However, I have been getting a lot of questions about acquiring properties through wholesale. I had a few meetings and several investors like the idea that I am able to find really cheap properties because of my huge network. They explained to me that they'd prefer buying the off market properties and/or more of the ones I flip (listed properties for cheap prices) and asked if I was interested in the wholesale process.
I have researched and learned a lot of information about the process, but still want a better understanding of how things work.
What are the steps?
How do most people present the wholesale deal to the seller of the property?
How do you keep the end numbers from either the seller and the buyer?
Do you give the buyer the address of the property (for viewing) if you haven't obtained a contract with the seller yet?
What should or should NOT be included in the contracts for both the seller and the buyer?
Thanks in advance for any information, as this will help me transition faster in my wholesale venture! I appreciate any and all advice :)