He DID mention that the meter isn't spinning when he goes out, so thankfully he doesn't have one of those on his hands.

OK, let me just add a quick spin to this.

This is a good answer, wholesaling is all about finding a motivated seller so you can purchase a property for well below existing current market value and pass most of that value off to the investor buyer and you keep the other (albeit most wholesalers seem to be greedy these days and want to take the lion's share of that spread).If you are attempting to do your first wholesale deal, then working with real estate agents on listed properties will likely have you spinning your wheels.To answer this question above, "I'm still not sure how you would bake their commission into the assignment of the contract, that's outside of my wheelhouse.

It's be difficult to fix it up perfectly, but it's probably a good idea to get on the right track before starting.Once you've got the flywheel spinning, check out the FHA loan program. 3-5% down will get you your first property.

You will probably have to offer them better than a 50/50 split on returns and profits.....I used to command a 50/50 split but that was with decades of experiences, multiple licenses and contacts that would make your head spin.....Never hurts to ask though, put yourselves out there and keep pushing, you might find someone willing to take a chance on you....

From there, you can start searching and I would make as many broker contacts as possible, form a relationship and get deals from them once you prove you are a worthy buyer who can perform.Trying to find a deal before steps 1 & 2 is likely going to have you spinning your wheels.

I've bolded what I don't like about each option:- 30 Year fixed, 30 yr amortization, 20% down, 4.25% interest, closing costs $11,600, can't put this one in an LLC- 3, 5, or 7 year balloon, 25 yr amortization, 20% down, 4%, 4.25%, 4.5% interest respectively, closing costs $1,455, Yes LLC- 5 yr ARM (every 5 years), 25 yr amortization, 25% down, 4.37% interest rate, closing costs $2,655, Yes LLC- 30 year fixed, 30 yr amortization, 20% down, 5.28% interest, closing costs $10,129, Yes LLCMy head is spinning trying to determine what makes the most sense! 

Now I've also heard you never want to personally guarantee the loan as that opens the door up to all sorts of issues.Needless to say my head is spinning and I'm coming here for some opinions :)

New investors try to look at too much and spin their wheels.

Your head will already be spinning with the deal details.