Flipping House for wholesale

[Tamara Semien]

HELLO everyone I have a question? This will be my first deal I'm closing and I'm about to get the property under contract. I'm trying to flip the house , Do I need to contact an title company or a cash buyer first? 

[Randall E Collins]

@Tamara Semien The most ethical way to wholesale is to locate a cash buyer first, then do a contract on the property. Afterwards assign the contract to the cash buyer via an assignment contract. Full disclosure to both the seller and buyer that you're simply a wholesaler (middle man/woman) not a realtor. Contrary to popular believe, no you do not need a license as you are not performing the same duties as a broker and you are not brokering without a license. But yes, you should check the laws for your state first as some states are behind the times and have restrictions.

Randall is spot on. Be honest about what you are doing. I have had to work with several buyers who were very disgruntled because a wholesaler didn't disclose their plan and didn't find a buyer. The deals I have done I always explain exactly what the plan is and how it works.