wholesaling newbie what is wholesaling

[hrd3kids]

 Newbie   What is wholesaling

[ericmedem]

Short answer

Find a home undervalue, assign the contract to another buyer, or use a back to back closing with another buyer, or sell the home to someone else at a wholesale price.

Steps to wholesaling

1. Build buyers list
2. Find motivated sellers
3. Put home undercontract with an escape clause
4. Get your buyers through
5. If they like the home assign or put a contract on the home with them
6. Get enough earnest money to cover any losses that you may suffer if they fail to follow through on their end
7. If they dont like the home then get out of the contract using your escape clause

That is the short description DO NOT COMPLICATE it.

I know that this is how it is done because I have done it to generate over $200k in profits.