How do I wholesale bulk properties?

[Kendy Saint-preux]

Hi BP,

I am currently talking to a seller who has three properties that he would like to sell in bulk. After evaluating these 3 properties, the ARV comes out to be around $420,000 in bulk and he is willing to let them go for $300,000. I have never done a wholesale transactions before and I have no clue on how I should go about placing these on contract. Will I have to use 3 separate contracts or will i have to place all 3 under one contract. Any advice would be great!

[Bill Gulley]

Originally posted by @Kendy Saint-preux:

@Bill Gulley

The seller wants cash, so seller financing most likely won't be an option. So do you think it will be possible to wholesale them in bulk?

 Again, this isn't a bulk transfer, it's a package deal.

The seller takes a note for the full price you agree to at settlement, your buyers are already to close, you sell to them an hour later, the seller's note is paid off and he gets cash. 

My advice to you is do not wholesale any other way. Your thinking otherwise is illegal in Florida.

What I really think is you need to learn real estate, I think you're shooting in the dark and hoping to wish your way to a closing as most new wholesalers try to do. Following gurus will put you on the wrong path off on the wrong foot. Sorry, but if you continue you're likely to get in over your head with some old landlord type and get messed over or sued or see the real estate commission. Walk away until you really learn how to value real estate and understand the process, adding real value to what you do. Good luck :)