How to wholesale a Hubzu contract

[Chris Bingham]

I was the high bidder last night on a dive that I found on Hubzu.com. I'm thinking of wholesaling thed deal. I think there's a little room for profit. My question is, I haven't even received the contract from Hubzu yet. Once I get it, how would I look at wholesaling it? I understand the marketing end of it and finding someone else. But where should I check the contract to be sure I can do it? And what paperwork would be needed? The only thing I've seen on it so far is one post from Braden C. out of Florida where he wholesaled a property that he found on Hubzu a couple years ago...it it gives me hope that it can be done.

[Terry Free]

I actually have done a deal on Hubzu, as I'm trying to learn the ropes of wholesaling myself. I have made a few mistakes while bird-dogging for my first client. We found a property at auction on Hubzu.com that was in close proximity to the area in which my client wanted to buy properties. After winning the bid, what I had ended having to do was, (1) Add the buyer to the contract as partner/second buyer. 2) Use the buyers proof of funds and had the buyer pay the $2000 EMD. 3) At the title company, filled out a form to transfer the deed over to the client, same day. It was a big hassle. My biggest mistake was allowing the buyer to determine how much I could make after bidding on the property and not having an assignment contract in place. The Title company I used was awesome. They would have set it up so the Hubzu wouldn't know how much I would've made off her deal If I took the right steps.