Beginner wholesaling question

[Craig D.]

Dear BP Forum, Would it be dumb to get a property under contract even if you're convinced that you need it for a lower price? In other words, should I get the property under contract for the high price if the seller fully understands that I may have to cancel the contract if/when it doesn't sell? Are there any other options to make a profit in this situation with a stubborn seller so I don't completely lose the deal? P.S. This would be my first deal. Craig

[Jessica A. Smith]

Hi Craig,

In my opinion don't romanticize the deal. If you've ran the numbers and the seller doesn't bite then this isn't a deal. They may stick to their number or they may call back in 5 months and agree, but you shouldn't tie up a property at a price that doesn't make sense. Be a problem solver. Be honest. Be upfront. Stick with the numbers.

Good luck to you!