Ugh...took someone' advice and went to Restore for Flooring...today my friend informed me that the flooring is cheaper at Home Depot!!  ReStore does not refund cash.  So I lost $40+tax LOL....do your comparison shoppi...

Anything more than that and you are setting these people up for failure.

The purchase contract you will sign with the seller, will have forfeiture of your deposit as full satisfaction of your failure to perform, and won't have any specific performance language because you supplied the contract.

From my experience a first time wholesaler would be setting themselves up for serious failure by randomly searching the market for a "Deal", then scrambling around trying to find a buyer for their deal as your suggesting.This method is completely backward from my experience because:#1 If you don't have a buyers list in place and your market is sizeable in the least, a first time wholesaler won't have a clue where to start.....By having a buyers list in place a first time wholesaler will at least have some direction to their efforts.#2 By not having a buyers list in place an investor sets themselves up to make far less profit on a deal because they are beggars instead of choosers.#3 Wholesaling is not a house business, it's a relationship business. 1 good house get's you paid once 1 good buyer gets you paid over and over.

We tied the JV agreement to the GC contract w language that reduced the GC split for failure to perform & the ability to fire the GC & get no split if the failure to perform significantly impacted the profitability of the job.We're convinced that partnering works.  

Incomplete application or failure to sign off on the background check equals automatic denial.  

get your RE license work on a team or for a top producer then figure out what part of re you want to play in... just trying to start out with no money and no experience is a fast tract to failure .. remember 90% or better of folks on BP or anywhere else  will never do one deal.

Most turn key providers that have any years at this don't want trouble properties either they don't like failure anymore than the buyers do.

It's an exhausting, and years-long effort (or at least it was in my case), and you will STILL be disappointed at the end of the day by the failure to take action on the part of some of those you volunteer on behalf of.

Because of this issue I'm also having a hard time finding agents that are willing to work with me because there's this big risk of investing a lot of time and then having deals fall through.Some questions:1) Does anyone know of other bank loan types (I'm also pursuing private money but it's difficult without having a track record) that could possible accomodate my cosigner situation.2) Does anyone have stories of either success or failure of buying houses with FHA loans that needed moderate rehab work, and trying to work with the seller to get repairs done before closing?