Contractual question

[John Benedict]

Hello, first post here. This is a really good site! I'm looking forward to becoming a part of this community sharing my experiences and learning from others here.

I have been researching REI for some time now and finally feel ready to jump in and swim. I intend to start out with wholesaling since I don't have much capital and am not very optimistic about finding lenders willing to take a risk on a newbie investor.

So I've been in contact with a local investor I've done business with in the past to get some mentoring and advice as I start out. One of the first things he mentioned is that most title underwriters will not insure a contract with assignment nowadays and so without cash or loan approval it's going to be very tough to get started.

Is this going to create a major obstacle? I'm still a little unclear as to whether title insurance is needed or what the advantages are.

In all my research I haven't seen a whole lot written about the details of the transaction and contracts, insurance, etc. needed to do these types of deals. I am grateful for any help you guys can lend.