Wholesaling 101

[Toni Romano]

Hi BP!

You will be able to tell how new I am to this industry by the questions I have! ;)

When it comes to Wholesaling I have a few basic questions:

1) If I find a great deal and I put money down because I have an investor who says they would buy the contract from me... he/she could easily "flake" on me right? Then I'm stuck with the contract?

2) Wouldn't sellers automatically deny your offer if you're putting $500 down? That seems like such a small amount and they wouldn't take it seriously.

3) I have read in several places that you should be making 20-25 low ball offers at a time waiting for someone to "bite". If several of those offers are accepted, I'm stuck with putting several hundreds of dollars down in deposits?

Thanks in advance for your responses.