Wholesaling with Hard money

[Cade Collins]

What is the process of finding a reputable hard money company, to utilize in this strategy? Im a realtor who wants to start wholesaling, but the whole assignment of contract thing kept messing me up and I feel Like it makes the process harder.

[Don Konipol]

@Cade Collins

The term wholesaling is really not correct; what is referred to as “wholesaling” is actually flipping. Unfortunately, the term flipping was appropriated by the media to describe what’s more accurately described as renovation. The media though fix and flip, shortened to flipping, sounded better than renovation when they began showing all those real estate reality shows 20 years ago.

This circles round to the point that you seem to be talking about the old term use of wholesaling, which is to purchase something at a bulk price for resale at a retail price. This of course implies ownership for a period of time, not merely tying up a property and finding a buyer to step in to complete the transaction. This is exactly what these ibuyers are doing; as a result if you own properties in the states where the ibuyers operate you are inundated with emails, phone calls, pop ups and text messages urging you to consider selling your property. The ibuyers offer a wholesale price for your property taking into consideration commission savings, time value of money, discount for cash, etc.