Wholesaling houses and where does the profit come from in a whole

[Bobby Morton]

I am a just starting out investor. I haven't made a deal yet but I've been doing webinars and reading books. My question on wholesaling: Is wholesaling just finding a low priced house and then selling it for fair market value? Where is the profit coming from when an investor does a wholesale deal. It sounds easier than fixing up a house but would pay out less. SO is wholesaling basically finding a buyer for a house that needs an owner to live in it basically? And how does the profit factor in? Thanks- Bobby Morton(Bobby's Properties LLC)

[Patricia Steiner]

Bobby, please do yourself a favor and don't learn as you go.  Real Estate Investing is complex. I see a lot of "overnight investors" who are fired up to get started and end up with a whole lot of nothing good.  And, wholesaling is not finding a buyer for a house that needs an owner to live in it. In Boise right now, it is a seller's market where multiple above-list/cash offers are the norm and builders can't keep up with demand.  The city is offering loan programs to assist buyers with "affordable" housing (meaning there's really not anything "affordable").  Take the time to know your market and learn the business.