New Wholesaler, Steps and Can/Cant Do

[Kironde Hearn]

Im a new wholesaler in the Lee County, AL area. Ive been doing a ton of research and getting as much guidance as I can from youtube and other informative sites. I have 3 motivated sellers, 1 possible investor that my girlfriend knows and one lady inquiring about investing from a craigslist ad i posted. My question is #1, What are some things new wholesalers should know/be mindful of when starting out? I've been doing research but nothing beats practical knowledge and experience. And #2, am I allowed to send pictures and information on homes to potential investors? As long as I clarify I am a wholesaler and not the current owner? And #3, what is the process you guys follow? From the videos it looks like

1. find a property

2. sit down with and question the seller

3. walkthrough and copy down damages/get an estimate on repairs

4. make an offer/sign purchase contract

5. contact buyers

6. make a deal with the buyer/sign assignment contract

7. take both contracts to the title company and get paid

If thats right then great, this is my first venture into entrepreneurialism so I want to make extra sure I got my ducks in a row and a plan. If its not right or somethings missing, could someone help me fix it?   

[Andy Rumple]

I ask the seller questions about how much rents are if occupied and condition of house.
That information along with comps combined with my knowledge of values to buyers(which is something you get with experience and selling deals) gets me a close estimate of what I can pay. I tell the seller that if I get to the house and it is worse than described then to expect a price adjustment and a new contract. This has saved me many hours. If you are far apart with the seller on price no need to go to house.