Wholesaling Questions

[Lee Melvin]

So i have been reading this forum about wholesaling and there is some things that i feel dont come up or get answered.

So from reading on here it appears you must

1. build buyers list
2. find a deal
3. get under contract
4. find end buyer

I didnt come across a place to go and get good examples of contracts to use. Anyone know of a site or person that is willing to share their contracts that they use?

Differences between using FSBO deals and ones using an agent / bank. Pro's and con's.

What is the formula a wholesaler uses to quantify what is a "good deal"? Is it the same as an investor only difference is you are selling it for a little more?

Sorry for so many questions. It would help if there was a sticky on wholesaling that really broke everything down.

Any replies and advise is much appreciated. Thanks!

[Jon Holdman]

There are a set of wholesaling articles.

Use a standard purchase agreement as your main contract.

FSBO deals are probably assignable. REO deals definately are not and will likely require transactional funding.

Agents will mostly think what your doing is unlicensed brokering.

A "good deal" is enough less than your buyers will pay to cover your fee. More generally, the flipping or rental formula's apply.