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Updated over 6 years ago on . Most recent reply

User Stats

178
Posts
187
Votes
Aaron Millis
  • Rental Property Investor
  • Montgomery, AL
187
Votes |
178
Posts

Wholesale order of operations?

Aaron Millis
  • Rental Property Investor
  • Montgomery, AL
Posted
I was wondering if someone on here could clarify in simple steps how to execute a wholesale deal from start to finish. I understand the entire concept I am just not sure what easiest route is (if there is a specific one) and all the steps. I know it goes something like picking your audience- sending out letters (or whatever your method is)- come to an agreement with potential seller- get house under contract- find your cash buyer ( maybe you've already done that)- agree to a price- etc When does the wholesaler typically actually step foot in the property to asses the sort of condition it is in? Or is it typical for the just cash buyer to be the one to walk the house? I guess it would depend if it was vacant or not.. because I'd prefer having as much info on the house as possible to pass on to the end buyer. Most importantly I think I am just worried about the paperwork part. I know it is essential to get an assignment contract, unless your double closing. Is that something you just go to a real estate attorney for and they'll understand whats happening? Because I would hardly know how to go about assigning a contract. I'm sure I will understand this more clearly once I've done a wholesale deal but for now I'm sort of lost with the steps.

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