Wholesale Strategy
I am looking at wholesaleing as secondary strategy, (need to generate some cashflow). The strategy seems fairly straight forward:
1- Build buyers list
2- Locate property and negotiate a good price
3- Match with buyer from list
4- Double close and collect your cash
My qusetions are at points 2 and 3 on my list, do i state upfront to the homeowner that I am an investor and will be selling this property imediately. How do I show my prospective buyers the property to see if they are interested, do you ever have problems with buyers and sellers getting together behind your back to cut you out of the deal. I have had sellers back out of deals recently and sell to higher bidders, this is with signed contracts in place.
if you have a purchace contract with a seller and they then convey title to another AFTER youve signed with them isnt it possible to have a court nullify their sale to the other party and force the seller to comply with the terms of the first contract? unless im missing something, i thought that was supposed to protect the initial deal.
dreamscape, this was my understanding of the situation with regards to contracts, sadly when dealing with people who are in foreclosure they are not to worried about you taking them to court, most disappear after they have moved out.
Anyone have any input on my questions on how I represent myself with my buyers and sellers?