Wholesaling in NYC...

[Tom Chen]

Hello all,

I'm currently a buy and hold REI in the Syracuse, NY area. In an effort to shore up my savings, I was planning on wholesaling off market properties in the Queens area.

If anyone is wholesaling in NYC, could you tell me if we need to double close or can assignment contracts work?  Do you have a lawyer draw up your assignment contracts?

TIA

[Jennifer W.]

@tomchen, as far as asking people for money. You have to shift your mindset and know that you are presenting them with an opportunity that will allow their money to work for them way more than it does in their saving account. When their money can make 10-12% as opposed to 3 or 4%, I'm pretty sure they will be interested in your opportunity!

Good luck!