wholesaling in San Diego

[Mauricio Salom]

I have read on wholesaling but everyone seems to have different opinions on it. Most of what I have read is pretty much me (the wholesaler) dealing directly with a homeowner that is motivate to sell. My question is if a property is listed on the MLS with an agent is it possible for me to place an offer before i have financing lined up? The property seems like a good deal and I am genuinely interested in purchasing it but if for some reason I cannot find financing can i assign the contract to someone else for a profit?

[Tim G.]

Originally posted by @Mauricio Salom:

@Tim G. Thanks that makes sense I spoke to an agent about the whole scenario and he told me I've been watching too many BP podcasts lol. He said it does not really work in the real world so I guess he is somewhat right and looks at it more from the real estate agent prospective and not so much the buyer side. 

Glad I could help, people do wholesale off the MLS but its threading a needle. It requires high level abilities, I'm a full time wholesaler and very successful in San Diego and I've done it once or twice in seven years. The seminars or podcasts can explain the theory of it but yes, in practice good luck. It doesn't benefit the agent or the seller, and the agent is the gatekeeper.

Also, you don't need a service to borrow funds to make this happen. That is what the buyer would be responsible for should you succeed at wholesaling it. Any service telling you otherwise is a service, trying to make money off you.