New to Real Estate · Indianapolis, IN · Member since 2013 · 170 posts · 23 votes
ive been pondering on this for a while. I understand the idea behind this and how you come up with your numbers. However the thing i have yet to grasp is how do you get paid for jumping in the middle of the deal? What guarantees you will get paid? What is stopping the buyer from cutting the wholesaler out of the middle of the deal and dealing directly with the seller? can someone clear this up for me?
If i understand wholesaling correctly, the wholesaler does not have title to the property, so that is why i ask.
That's it in a nutshell Ryan. Basically you get a purchase agreement, get an attorney to tweak it for your area and set up your terms. The agreement that you have with the seller will also allow you to assign it. You protect yourself by saying that the deal is contingent on an inspection or approval of partner.
Then you have control. Oh yeah, try to make it for 30 - 45 days from the date you sign to give you time to close it with a buyer. The biggest step is.. stepping out on faith and getting over the fear of "what if they say yes!"