Wholetailing process?

[Daniel Shaw]

I am still new, let's call it studying for 8 months and waiting on my first lead to convert.

My question, most of my leads I get are by owners that don't have the equity or not desperate enough to accept 70%-repairs-fee, but are still interested in selling below market value.

Can someone explain the steps to wholetail? I am sure I understand it but just need to be confident.

My understanding is get a home under contract (purchase/sales) which is assignable and states that I (buyer) have right to market the property to the public including the MLS, with a 30 day closing period.

I put contract in escrow with say $300 earnest deposit, now with having an interest in the property I can have my realtor list this property for a price that is still below ARV. This can be done without being on the deal or transferring purchase funds (which I don't have)?

Would I be doing assignment of contract to the end buyer or a separate P/S agreement?

Can some explain the steps please?

I have a house under contract in Desert Hot Springs 3/2 for 140k ARV is 190-195k, as-is about 17tk, it's a rental property so just cosmetics needed.

I know @michaelquarles is brilliant maybe he will land on this.

[Michael Quarles]

you're paying way too much and you can list a property on the MLS.

Also assigning is rarely ever involved within wholetailing.