Is Reia really good or not worth it ? And i am wanting to start wholesaling any advice

[Alex Holt]

So as i said in my title i am looking to join my local REIA but i wanted to see if it is worth it for one . And also i am wanting to get more involved in wholesales to get the capital to one day get into rehabs. But i am still a little confused on the under contract part without paying for the property . So my first question is you get the property under contract? Then what do you pay them the money if you cannot sell it in how long ? How many days is most contracts. How do you not need a real estate agent to sell the property ? I have a few people locally who send me their homes under contract and i have a small group of guys looking to invest in the right property and i just need helping connecting the dots so i can start making capital off the deals.

Thanks

[Michael Hayes]

@Alex Holt joining your local REIA is one of the best things you can do to jump start your investing career. You can shave a lot of time off your learning curve and the networking and relationships you form will have you in the game in no time.

In general, its best to either A: Already have a list of buyers so that you can move the property quick, or B:  Have access to funds so that you can pickup the property if you are unable to move it to someone on your list of investors.  In the case that you cannot find an investor, you would lose any earnest money that you put down, but in general wholesalers do not do this.  However, you don't want to be the guy going around writing contracts, but never closing on them.  Always have an exit strategy. 

I write my contracts to close within 30 days or less.  This should be enough time for you to move the property and is pretty standard.  You do not need an agent to close.  Anything that needs to be done is done simply with you, your buyer, seller, the contracts and your closing attorney. 

Check out this recent blog post.  http://www.biggerpockets.com/renewsblog/2015/08/04/process-wholesaling-housesassignment/

Good luck!