Beginner in Wholesaling

[Alexandra Preziosi]

Hello BP community!

So this might be a newbie-type question but I have been reading a lot about wholesaling and the process. I seem to have gained a fair understanding about how it works overall but I think the one part that confusing me is in regards to getting a house under contract without spending money yourself. My question is whether as a wholesaler, you are actually giving the seller the money they are willing to accept for their home (for example $50,000) or are you kind of simply officially agreeing to find them a buyer to get them their home for at least that amount of money ($50000) or more, and then transfer the house contract to the prospective buyer? I hope I explained this question correctly. A more basic question is, how do you as a wholesaler not spend any money on the transaction and still make a profit for yourself? Thanks so much!