Wholesaling

[Carlos Barrientos]

Ok so i've been doing my research and all but i don't think I'm 100% there yet. I'm trying to figure out what contract it is that we need when doing a wholesale. Is there a specific contract that we need or do we create it ourself? Im still new to this field but I'm anxious to find out whats on the other side of the wall! 

Im located in the DFW area if anybody wants to link up

[Jason Rivera]

Hi Carlos,

Great question! There is no specific contract for wholesaling. Generally you make your own or use someone else's contract. Two tips of caution though: 1) Make sure you comply with your state's laws regarding wholesaling/assigning of contracts, (because for some reason I think Texas's laws differ from other states) and 2) Make sure your contract is "foolproof" so you don't accidentally give the seller rights that shouldn't be there and you have proper exit strategies in place. A final tip is that you should always pass your contract and questions by a vetted real estate attorney with good knowledge of the area(s) you're working so you're less likely to make legal mistakes.

Best of luck to you!