Wholesaling Out of Your Area

Wholesaling Out of Your Area

Brooklyn · Member since 2018 · 9 posts · 1 vote

I just started learning about wholesaling real estate and investing in general and I'm starting to get a good understanding of how the whole process works. One question that I had was how does it work when you find deals outside of your area? I live in New York city where the prices for homes seem much too high for someone who is just starting out in the business. My plan was to look at surrounding areas to find potential deals but what is the procedure when it comes to working with the title companies and closing on these deals? Would both my seller and buyer have to be present at the title company? Would I have to find a company in the area that I find the deals and drive out there every time I want to close? I know this might seem like dumb questions but it's something that I really am confused about. Can anyone help with this?  

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  • Raleigh, NC · Member since 2011 · 721 posts · 343 votes
    8y

    I don't know how it is in your area.  However, generally speaking the buyer nor the seller has to be present at the closing.  Often times they can complete their paperwork using a notary and snail mail.  To your second question.  I doubt that you'd need to be at any closing.  Although, if you are starting out then you should be there.  It is a good idea to have a title company in the area where the property is.  Again, it is not necessary.  In the beginning I'd recommend using a title company that is in the same area.  After you've done a few deals then it is not necessary.

  • Brooklyn · Member since 2018 · 9 posts · 1 vote
    8y

    Thanks for the information Roland. I don't know why I thought it would be more difficult than that. I feel much better about getting started now

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