Hi, I've been absorbing a ton of great information on BP and it was been an amazing resource.
There were a couple of items that I was wondering about that haven't really been covered yet, as far as I can tell:
1) Is it best to wholesale locally where you live or is it possible to do in a city that's 1.5-2 hour drive away? The area I live in has very inflated housing prices (Northern VA) and I'd feel more comfortable starting somewhere that the housing is more reasonable, like Richmond, VA or Henrico, VA.
2) If a wholesaler can't locate a buyer before closing and has to close on the house, what happens then? Do you immediately put it on the market. Are you stuck with major losses because you have to pay closing costs and carrying costs? I'm curious about that.
3) To complete a wholesaling transaction, does one ONLY need a title company and NOT a settlement company? Is it the buyer who only need the settlement company?
4) Finally, can anyone recommend a good direct mail company to work with?
Thanks very much and feel free to contact me. I'm excited to network with people on BP.
