Thank the Legislator’s staff for taking your call.

I was wondering if someone on here could clarify in simple steps how to execute a wholesale deal from start to finish.I understand the entire concept I am just not sure what easiest route is (if there is a specific one) and all the steps.I know it goes something likepicking your audience- sending out letters (or whatever your method is)- come to an agreement with potential seller- get house under contract- find your cash buyer ( maybe you've already done that)- agree to a price- etcWhen does the wholesaler typically actually step foot in the property to asses the sort of condition it is in?

If you are getting the timely loan payments and the contract you signed with the issuer provides for the parameters that Mike cited, and the issuer has provided some level of responsibility for the performance of the note payments in the contract you executed, then it sounds like you will be ok.  

Yes, there will be setbacks, but with the right attitude and the right execution, you will be successful. 

I've worked in the industry for 25 years from on site to the executive levels and finally decided to take the plunge. 

Truly self-directed IRA's are held by specialty providers with different paperwork and staff training focused on non-traditional assets such as real estate, private mortgages, etc.

Yes, the prez did tell the DEA to back off, but there might be a new prez in 2017 or 4 more years.I haven't kept track on how his"executive order" method of lawmaking is surviving the test.

They tried but they fall short on execution. for people that dont have anything better or are starting out it is a good way to go, but if you are established there are better products like REIPro. 

I have a full-time staff member who is learning the trade who started in a similar matter. 

LOI is typically non-binding on each party unless it says so.If you have already executed a purchase and a sale without a broker or an attorney looking at it and you do not have the experience that was a bad move.There are usually inspection periods built in and a finance contingency where you keep all your EM but it varies what is in the contract.