All Forum Posts by: Omar Barazi

I'm looking to break into REI with wholesale deals as a way to raise capital for personal investment properties.

When it comes to getting a seller to sign a purchase agreement, how are wholesalers showing POF even though they plan to assign the contract? Do they use hard money lenders as proof? Or are wholesalers not required to show POF if the seller isn't directly requesting POF?

Thanks

I'd recommend learning the laws regarding wholesaling in your state and make sure you understand the legal side of things before you get tied into any contracts. Understand what goes into a real estate transaction and make sure you are doing your due diligence. You don't want to get into a legal battle or use a contract that doesn't protect your interests. Talk to a real estate attorney or experienced professionals in your area. Then you'll want to Identify and understand specific markets you want to target and then work on building a list of potential motivated sellers and work on various marketing tactics like direct Mail, cold calling, etc. It is important to have integrity in wholesaling since there's a pretty negative stigma about wholesalers. Focus on finding good deals that are fair and help everyone, the seller(relieving them of a burden), you(fair assignment fee), and the cash buyer(a solid deal with realistic ROI)