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Updated about 10 years ago on . Most recent reply

Account Closed
  • Property Manager / Real estate investor
  • Lynchburg, VA
6
Votes |
37
Posts

Wholesale fast approaching [URGENT]

Account Closed
  • Property Manager / Real estate investor
  • Lynchburg, VA
Posted

We found a home that could be renovated and held, but were looking to build our capital for now so were thinking of putting a contract on it and just wholesaling, however we have a ton of questions about the process, like; 

1. How do we get an accurate valuation (who all can do it) 

2. How do you comp such a property (its a 5br/3ba SFH, thats been split into a duplex, on 1.37acres, zoned business but last used as a residential)

3  We want to put a contract on it with contingencies regarding the inspection, partner approval and also an assignment clause. (Is that some things I can download or draw up myself of should I seek a pro?)

4. Once a contract is on it, how am I supposed to show/advertise it?

Most Popular Reply

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Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
2,425
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3,406
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Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
Replied

If you upgrade to a pro membership you can download them from the fileplace right on here. I have had an attorney look over the popular ones and he said it was great. I have used the contracts on multiple wholesale and even standard purchases. It's a great investment. You could contact a local Realtor who works with investors (look on here for  a Realtor in your area) and simply ask them to run comps for you. If the property is vacant their should be a clause in your contract giving you 24 hr access and keys. If it is occupied film a video walk through be honest with what it needs/doesn't. For marketing use postlets.com which will syndicate your ad to a dozen or so major websites. You can also put an advertisement on CL with something like "Tremendous investment opportunity!". Make it kind of vague and don't give the address. If they contact you they can get more information. 

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