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Updated about 7 years ago,

User Stats

7
Posts
2
Votes
Pablo Vignolo
  • Miami, FL
2
Votes |
7
Posts

Seeking Advice - Wholesaling Questions

Pablo Vignolo
  • Miami, FL
Posted

Hello - thanks for willing to lend me a hand. I've had my real estate license in Florida for a little over 4 years now and have helped several investors buy and sell investment properties. Recently, I've started seeing a few properties that I could have done a wholesale deal on, but I'm letting them pass due to inexperience on that front. With that being said, I'd appreciate if any one with experience/knowledge could shed some light on the following:

1) As a wholesaler, what are the key details when filling out a contract. I understand I need to make the contract assignable, but if you could briefly explain the main points that differ a wholesale purchase contract from a regular contract.

2) How does the deposit work during a wholesale deal? Do I need to put down a deposit of my own money, and if so, once I find a cash buyer, how does that transfer over?

3) Any step-by-step guide/tips for doing my first wholesale deal will work.

I understand real estate terms and have filled out many contracts in the past, so I comprehend how that works; I'm mainly looking for guidance on how to exactly set up the deal when I reach out to a Seller.

Thank you all, every one's response is appreciated. Looking forward to posting my first success story here soon. 

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