How to create money?

**BOSS** · 05-05-2009, 07:38 AM

I am looking to start wholesaling. I have 30 rental units now. I know that I understand the principles of making deals. I want to help people get positive cash flow also.

My question is what are the technicalities when dealing with contracts.

**REITrainingWhse** · 05-05-2009, 08:40 AM

Originally Posted by BOSS

My question is what are the technicalities when dealing with contracts.

Umm, what contract are you talking about? Wholesaling is like any other type of deal making... Get an accepted offer from seller, find a rehabber willing to buy, marry the two together and collect the margin.

Now some places want the wholesaler to hold title for a minute or two, where the wholesaler BUYS the property from the seller, and then SELLS it to the rehabber... Two transactions. But in reality, you could lock up the property with the accepted offer, and then assign the offer to the rehabber for the difference (margin) therefore you don't go to closing at all, and you are never on the title. (And it is only ONE TRANSACTION, and therefore minimized closing costs.)

So, please identify what contracts you need to deal with, which are of concern to you.

Later,