Is This How Its Done?
Okay, so I'm thinking I want to start with wholesaling but I think I'm way wrong with how it works. Heres what I think I know:
Basically, I find a property that needs to be fixed up, or the seller will sell real cheap, right? I do a title search and make sure everything is good there, see what repairs need to be made and all of that, get comps and the like, write it all up and find an investor that wants it and asign it to them. Is that the basic principle?
Somewhere I read that the contract the seller signs should say that if I can't find a buyer in like 30 days the house goes back to them, right? I'm not actually cutting a check to the seller right then for however much they are wanting for the house? Except option money right? Is the investor that I asign the contract to the person paying the seller?
I hope that's not to many questions.
Thanks
There are books, and courses etc that go into detail by detail how to wholesale properties. Your top paragraph is essentially correct, however there is wuite a bit more to it than what you have written down.
Keep reading the posts here on TCI and most of your questions will be answered. It takes time. You did ask quite a bit here, and you'll get some good answers in this string, but education is a worthwhile investment, and I'd recommend looking in the local library for some good books on real estate investing as well.
Good luck,
Jeff
Have you thought of trying to find a mentor in your area and go around with him/her?
Also, keep reading the posts. They are good info