Wholesale newbie!!!!

[Mikey Cas]

hey guys, I was recently told to get into wholesaling to save up some extra cash reserves before I jump into real estate investing. I read through the forums and posts on this to get an idea of this field..... but im still a little confused. Can someone tell me the process in a very short simple way. It seems to me that someone is locating a property that has potential for a rehab and a great profit, attaining the rights to the contract, and then selling the contract to a buyer who is interested in taking on the project of rehabing the home. AM I as a wholesaler taking out a mortgage and owning the home with the hopes that someone will take the home off my hands and rehab it??? Or am I just buying the 'rights'to the contract(if thats possible i dont know)? Sorry for the confusion I am just a little confused because how could I get a loan for this method, if i couldnt get a loan for a home as an investment in the first place? I just want to see the whole picture because this seems interesting to me.