Few questions

[Tom Jones]

I currently have a few questions regarding wholesaling properties. Any help, advice, etc would be appreciated.

1. I understand how to determine what to offer a potential seller for their property (ARV x X% - repair) - your wholesale fee. Now obviously the figure I come up with after computing the (ARV x X% - repair) is what I offer to the seller. However, what I would like to know, is when I put the property up for sale once under contract, do I include my assignment fee in the sales price, or just simply tell the buyer what my assignment fee? What works best for you?

2. What works best for you when estimating the repairs needed on a home? Luckily for me, I have a friend who is a construction contractor and has already agreed to do estimates for me if and when I need them, and I can settle up with him once I sell the property. However, I am curious to see what other wholesalers do.

3. One of the main things I have not found yet, but currently working towards is finding an investor friendly title company. What questions should I ask them, or how should I approach them to determine if they would be good to do business with?

4. Regarding making an earnest deposit on a property I am wholesaling, I have read and heard a few wholesalers that say they always do this, and I have heard some say that they never do an earnest deposit. Can anyone confirm which is it? For the ones that I have heard that do an earnest deposit, they say they do between $1 to $100 and never more than that. However, what sense would it make to do a $1 deposit at a title/escrow company?

5. When it comes time to go to escrow once I have an end buyer, who opens up the title/escrow account? Is it me, or the end buyer? Also, what cost is involved to open it, or is everything paid at the end?

6. Just about every wholesaler that I have been reading, have all stated that they make their end buyers put up a non refundable earnest deposit when buying a property from them. Now, this does make sense, and not a bad idea, to ensure the buyer won't back out, and if he does, you get to keep the earnest deposit. However, the question is, what is the normal amount to request, or just it depend?

I believe that is all. I do apologize for the MILLION questions, but I didn't want to flood the forum with multiple threads. Again, thanks to anyone in advance who can shed some light onto all of this for me!