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Updated over 8 years ago on . Most recent reply
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First time wholesaler needing advice
I'm new to real estate. I quit my job to invest in real estate full time and I'll be honest I'm a little intimidated by the shallow water. I found a property I'm interested in wholesaling. It's a great fixer upper, 3 bed, 2 bath, asking price of $149,900. I reached out to a local real estate agent who claimed to have some personal experience with investing, but she hasn't been able to answer any of my questions so I'm hoping someone on here can give me a shove in the right direction.
Let's say I put a offer on this house. On average, what's an appropriate/ professional amount to put down on a contract? Do I contact my buyers now, or wait till my contract is signed? Is it appropriate to disclaim to your agent/ sellers that your a wholesaler? Is there any additional fees in selling the contract to another buyer? Does anyone have any additional advice for this first time investor? Thanks.