How to Wholesale Real Estate: The 10 Step Process Part 2
How to Wholesale Real Estate: The 10 Step Process Part 2
Wholesaling updated 26 days ago

How to Wholesale Real Estate: The 10 Step Process Part 2

Part 2: This is the second part of the first article about learning
Wholesaler in Real Estate

1. Contract

After the negotiating process, the next thing that you will need to understand is contracts. Although this is something that can be delegated you still need to educate yourself on the legalities of the transactions and the legal paperwork. You will need to know entity structuring as well as purchase and sales contracts, and what to do with them when they are signed.
 

 

2. Build a Team and let your Clients know.

As previously mentioned, all these processes are doable if you are doing one property at a time but not if you are dealing with a lot of properties. The legal paperwork should go to your attorney; the attorneys do all the complicated sides of the transaction such as title reports and closing the deal.
 

3. Look for a buyer

After the deal is already under contract and you know you have a great deal you need to market it. There aren't many ways to go about this, calling renovator's that you are many ways to do this. For example, you can post the property on social media or put it on your website. You can also try to call your contractors to see if they know someone who might be interested in the deal you currently own.
 

4. Assignment of contract

Once you come to an agreement with the buyer you simply transfer your rights and responsibilities of the contract to the buyer. This is simply done through an assignment of contract. You need to make sure that there will be no title issues in the future.
 

5. Closing

You make sure that you end as you started it- control sign all documents and you cash your check. You ask for testimonials to get a better portfolio next time you approach your next deal.
 

0
0
0
0
0
0
0
0
0
0 Comments

Follow Us on Facebook