Wholesaling

[Kathleen O'Leary]

Hi Team:  I'm jumping back into real estate investing after 4 years and I'm not familiar with the term Wholesaling.  Can someone explain and share their stories.

thanks - looking to buy in Delray Beach, renovate and do short-term vacation rentals.  Love to hear about up and coming areas of Delray Beach wishing walking distance from downtown I should consider.  Thanks!!!

[Brett K.]

Hi Kathleen,

Wholesaling is the term for putting a property under contract and selling it without taking possession.  You can either assign the contract to a new buyer for an assignment fee or you can do a simultaneous closing; you close with the seller and immediately sell to your buyer with the closings happening back to back within a few minutes of each other.  It's the modern version of 'no money down' investing.