New to Wholesaling

[Brock Laramee]

Hey BP,

I am turning to Wholesaling because of a temporary defeat I faced with buying a property this summer. I have realized that It is important for me to get a bit more knowledge and capital through real estate before buying my first property. I will be starting my wholesaling business in Tallahassee Florida where I attend Florida State University. If there is anyone in the area send me a message and we should connect. Otherwise, I have questions for you BP Fam.

1) I know I do not need an LLC so I haven't gotten one. Although I want one. I want one because I want to create my brand. But, It is a big expense for me right now. Is waiting till I get my first deal sold (money to pay for the LLC) a better time to get the LLC?

2) Before I even have my first deal should I be sending out direct mail etc? Because I am not made of cash right now.

3) How should I begin my marketing campaign?

4)  Where do I find the contracts for the FL laws for wholesaling?

5) Is it legal for me to get a house under contract without actually having the funds to buy it?

Thanks,

Brock Laramee

[Chris Boyd]

Hey Brock,

First up, the LLC can wait. If you can send out direct mail, do it. It's a great way to have motivated sellers calling you. Postcards work great, you can also do bandits and post on social media.

I have a one page purchase contract we use in many states with no issue. Since you are a college student, just email me, it's my gift to you.

Lastly, legally, as long as you have a financial interest in the property, EMD, you are covered. Make sure you are transparent with the seller.