SOS! My first wholesaling deal... maybe???

[Kayla Hawkins]

I’ve been looking into investing in real estate for over a year now but have never had the resources to generate money to fund it. Typically, I know wholesaling can be a good way to start with no money and no credit. After watching yet another webinar, I went on Craigslist just out of curiosity. I found a cute 2 bed 1 bath rambler for $92k and I’m the same area I found a company that specializes in real estate investing using all of the important keywords to make sure their ad appears. Diff I just find a potential deal?! And if so I know that I would most likely have to reach out to the seller put the home under contract for the $92k and then reach out to the company and try to get them to purchase it for  potentially $100k and then make the $8k off of the difference. Or something similar to that. I’m nervous and confused but I know that if I never go for it I can’t expect to change my life forever.

[Brian Pulaski]

You found a house on CL and found a company that "buys houses" on CL as well? You assume the company... actually buys houses, and they haven't seen this potential deal yet? Or the seller hasn't sent a message to the "house buyers" himself?

The truth is the "we buy houses" people you found are actually wholesalers. They also are either going to jump in and swoop this deal or have seen it and there isn't a deal to be had. 

If you are looking to jump in, go for it. Just be honest with the seller. DO NOT tell them you are an actual cash buyer who is buying the house. Tell them what you plan to do and go from there. If they are on board, have at it. If not, move on to the next deal. My radar says this one (locking down the CL house and selling to the CL "buyer") is probably not a deal.