hello everyone!
I'm just entering the world of real estate!
I'm very excited about starting my new journey.
The fear of starting wholesaling (that I assume everyone has in the beginning) hasn't gone away yet, but I still believe in myself.
My fears consist of being fined, failing to find sellers/buyers, fumbling for words when speaking to potential sellers, not having enough marketing money to start out, and more.
So, I found a P/S agreement on this site that I plan on using, along with an Assignment form.
This is all I need to start correct?
All I need to do is find a title company who is ok with investors and can do assignments? And find a property (probably through driving for dollars technique and direct mail)
By what I have learned through here and youtube this is the process in my head:
1. Find a deal (do the math, etc)
2. Send a letter saying you'll buy there home fast with cash.
3. Hopefully get a callback from someone wanting to sell.
4. Ignore people who want top dollar or just wanna see how much they can get.
5. Meet with motivated sellers and fill out a p/s agreement with them.
6. Optional: Notify them that you are attempting to sell their home quickly in order to make a profit.
7. Take the contract to the title company and put earnest money in an escrow account
8. Find a cash buyer/advertise.
9. Assign your contract.
10. Go to title office and transfer your purchase agreement to the assignee.
11. .....Then close? with the buyer and seller and collect the assignment fee?
I think that process sounds correct.
I'm mostly just nervous rather than scared. I would rather shadow someone in the process but I know that probably won't happen.
I know still, that I will succeed.
After I make my first deal, should I get a DBA to be on the safe side? Do i need a business license in GA to orperate through an LLC?
Does getting a Real Estate License prevent wholesaling? I know as a wholesaler there less restrictions.
Any info on the proper procedure for starting would be appreciated!
