Wholesale question?

[James Harkness]

Hi everyone. I am new to this website, and new to real estate investing. I am looking to build some capital by doing some wholesale deals, and I totally understand the process and concept of what a wholesale is... almost.

My question is, once you sign a sales contract, what happens if you cannot find an investor to buy the contract from you? Is this where the risk comes in? Is there a clause or something that you can write into the contract to help protect yourself against being forced to purchase the property if you cannot find an investor to buy the contract?

Thank you for the help, I appreciate it!

[Curt Davis]

Are you buying from the bank or a private owner?

If you try to lock up a bank REO you will need proof of funds and a minimum of $1,000 in earnest money that is non refundable.

Being able to buy from the bank is usually what separates the big leagues from the minor's.