First WHOLESALE DEAL I HOPE!

[Marian L Claville]

I have a question about a piece of  property I am trying to wholesale: the home is listed with a real estate agent for $27,500 it has a tenant inside who pays $500 per month. The home is newly renovated and I will get it under contract for $23,000 to $25,000. I just submitted my first offer of $23,000 and they want a deposit  $1000 before I officially submit the offer.

1. How can avoid paying the  $1000? 

2. What should I charge for my wholesaling fee?

3. How do I find buyers? (I'm very new to this)

4. What should I do?:-)

Thanks in advance 

[Roland Paicely]

Travis, 

First of all congrats on taking action. That's a great first step. Next I'd say the best thing to do is to deal directly with the sellers. Wholesaling from the MLS is an entirely different ballgame. Not something that you should start with. Maybe do some direct mail. Or attend your local REIA and connect with the investors there to determine what's working......Good luck, Roland