Newbie here

[Isael Galarza]

I currently reside in Atlanta and extremely motivated to make it in the real estate world, that being said I'm still new at this, very new and would love it if any of you guys can give me some beginner tips maybe how to start in the wholesaling side of the market? Should I find cash buyers first before I make a deal or put the property under contract and then find a cash buyer? How long from when you actually sign the property under contract do you have to close on it? Is there any money due up front when getting the property under contract? Am I able to get out of the contract if the buyer I have lined up backs out of the deal? Or what if I never find a buyer to purchase the property? Am I now liable to go through with the purchase myself? I'm sorry if this is a lot but seems everywhere I go its a lot of mixed information Thank you to anyone that can help

[Chris Piper]

@Isael Galarza Wholesaling is the best way to start out. You can learn a ton from other people on this site. There are a lot of posts on how to wholesale. Here are the answers to your questions:

Should I find cash buyers first before I make a deal or put the property under contract and then find a cash buyer?

Well, it's best to know you have people to sell to once you get a deal under contract, but it can work either way. I would say post a ghost ad on Craigslist. Grab pics of a house, post it on Craigslist super cheap. When cash buyers call you, tell them it's sold, but you get new properties all the time.

How long from when you actually sign the property under contract do you have to close on it?

30 days typically

Is there any money due up front when getting the property under contract?

That is decided between you and the seller. It can be $0-$2,000 or more. I usually do it with $20 as earnest money. Some people will accept that, and some won't. No biggie since there are plenty of good deals out there.

Am I able to get out of the contract if the buyer I have lined up backs out of the deal?

Yes, as long as you include an "escape" clause in your purchase agreement. Don't make a habit out of backing out, or you will lose all credibility. You can usually use the "subject to partner's inspection" clause. Usually 15 days or so will do. 

Or what if I never find a buyer to purchase the property?

Answered above, but if you can't find a cash buyer in the first week or so, start calling other wholesalers in your area(the "We buy houses") sign guys. See if they have a buyer for you, and split the profit with them.