Once I have a house on contract what do I do now?

[Edwin Campos]

Finally pull the trigger on a property for wholesale, this is my first of course, so where do I go from here if I want to sell to an investor? More likely it’s for building a pair of townhouses.

[Barry Pekin]

@Edwin Campos,

At the risk of repeating myself...

Congratulations on getting your first house under contract.

I'm a bit amazed, however, that you don't know what to do next. You've committed to purchasing a house from someone, and you don't have a plan. You should know how the process works and have your buyers already lined up. Now, it sounds, that you're stringing along a seller when you can't actually complete the deal. You may, of course, and kudos if you do. Consider yourself extremely lucky.

If you want a crash course in wholesaling, which is sounds like you need, there's a short book that outlines the whole process. Get it now and read it quickly. It's called, "If you can't wholesale after this... I've got nothing for you."

I also can only hope that you found a good deal and got it under contract for a number that works. If you try to turn this over to investors and you have a deal that has terrible numbers, those investors are going to form a negative impression of you from the beginning and you may lose them from the start.

Good luck!