New wholesaler in Chattanooga, TN

[Justin Traille]

My name is Justin Traille, and I just moved to Chattanooga this week and was wondering if there are any other wholesalers or other real estate investors in the area that I can network with. I haven't done a deal yet, I'm still in the learning stage.

[Christopher Charles]

I'll recommend all you newbies getting a Straightforward good mentor. In case some are wondering on the actual process this is how it goes.

You find the seller, (They're motivated of course" and you get the property under contract (hopefully at a great price and rate) ( Typically distressed property ARV x .7 - Repairs - Fee= MOA ((Max Allowable Offer)) ) As soon as you get that seller signature bro. Take that contract ASAP to the Title company or if your a Closing Attorney type of guy then to them. Have them start running title. typically anywhere from 72-96 hours. (3-4 days). Immediately start marketing for your buyer. You want cash now? Demand a "nonrefundable" Earnest money deposit of at least a grand. Tha way even if your buyer backs out and wastes your time you get something out of it. If your double closing. Get your buyer to sign that second P&S agreement or if you're assigning it, have em sign that. Lastly...take that contract as well to the closing agent or attorney. Then pick up your check once titles clear. BOOM not all heroes wear capes.