Wholesaling

[Lewis Watts]

Can anyone take me through an elaborate Step by Step Strategy to incorporate in my first endeavor at a wholesale deal... Additional note, i live in the UK and not quite sure whether the same ideas in the states work over here, so if anyone could clarify that for me i would be eternally grateful 

Thanks, Lewis 

[J Scott]

The basics of wholesaling are simple:

1.  Find motivated seller willing to sell you their house at below market value in order to generate a quick/easy sale to solve whatever problem(s) they are experiencing.

2.  Take control of the property with an equitable interest.

3.  Sell your interest in the property to another buyer who closes the deal.

Now, each of those three steps involves a LOT of study and work, with knowledge of various aspects -- legal, marketing, sales, etc.  

I recommend you start reading articles, blogs, forums, etc., here on BP to get familiar with these things, as well as consult local real estate professionals in your area (brokers, attorneys, financing people, etc) to ensure that what you plan to do will both work and remain within the law.