Newbie Fears
Hey all! I started wholesaling a number of years ago and I think one of my last posts was about getting my first deal under contract. Well, I didn't end up finding a buyer for that one and I think it's because it wasn't really what investors were looking for. It was owner occupied, didn't need much repairs, and the asking price was pretty close to the ARV. I just kind of let the contract period run out and I never heard from the sellers after that...thank God.
Anyway, after that deal, I just kind of fizzled out.
I'm back with a vengeance and I'm determined to make it work this time. After so long, I still have a passion for it. The only thing holding me back, though, is the fear that I won't find a buyer for a deal and end up in deep crap because I signed a legally binding purchase and sale contract and irking the nerves of a seller after tying it up for a few months and not delivering. I know the saying is that if I find a deal that's good enough, the buyers will come. I believe that to be true...but that fear still stops me from going at it full speed ahead. So I guess what I'm asking is, what are some things I can do to protect myself in a wholesale deal in the case that I don't find an end buyer?
Thanks for all advice!