Timeline of The Wholesaling process

[Account Closed]

Can anyone give a thoughtful overview of the process of a wholesale deal in a sort of a timeline order?

I have come to understand most parts of wholesaling, but am confused on how it all fits together, especially pulling off a double escrow.

[Brian Jordan]

Assuming you have a buyer's list already developed and you've just contracted your first deal. You need to decide if you're going to assign it or double close it. Both have their pros and cons. I double close when wholesaling mls properties or when I don't want my buyer to know the amount of my assignment fee. There's other times as well such as the seller controlling who the title company is, etc. The cons of a double close is it typically costs me about $1,000- $1,500 because I'm paying all closing costs and fees on the first transaction and I'm paying transactional funding fees to fund that transaction. My time line typically goes as follows. 1. Contract a good deal. 2. Market the deal and contract with an investor to sell the deal. 3. Open title with investor friendly title company. 4. Close the deal. Don't overthink it. You'll look back after a few and wonder what you were worried about in the first place. That being said, every city/state is different regarding the legalities of wholesaling. It's up to you to stay in compliance. Best of luck