Trying To Understand ....
This probably seems like a dumb question but my inexperience leads me to ask if I understand wholesaling correctly. Any and all explanations and even examples of success are more than welcome.
I understand that one can get a property under contract for an agreed amount as ernst money (now here is my confusion) do you set the time frame in your contract as to how long before you close or does one tell the seller they need a certain alotted time to get approved, and then during that time you try to find someone else to assign the contract to. Now with that in mind do you add what you think is a fair amount to the seller's asking price and in turn assign your contract for that amount thus collecting the difference when they (original seller and 3rd party ) go to close?
Am I making this more difficult than it really is?
Thanks
Christine
Christine:
You set the time to close in your contract. Typically 30 days if you are just starting out. Then you collect your fee and 'assign' your contract...
When you get more advanced, you can offer to close in 10 days or less and this will help you get an even better deal.
I would recommend you take a course on 'wholesaling' as this could be a very profitable business for you!
Best Regards,
Jeff Adam
[addsig]
Thanks Jeff,
Are there any particular courses you could recommend? Anyone reading this post with suggestions all responses are welcome and appreciated.
Christine
Christine,
There are 2 courses for wholesaling on this site in the products section. As soon as they set my account up there will be 3. But for now, either one of those two in there will get you on the right track.
JB
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JB
Thanks alot I will check those out .