SIC 001: How to get started wholesaling

Joe & Julie talk How to get started wholesaling

Send postcard out the door
*This is the most important thing you can do!

Phone rings
* Be yourself
* Take notes
* When do they want to sell?
* Have they thought about where they are going to move to?

County records website
* House research
* Find address

Get help from other local investors

Big tip: WA homeowners act
* Can’t do transactions with distressed homeowner without a Realtor license.

Open escrow and open title report
* Hopefully have title contingency in contract
* Look for red flags on title report
* Make earnest money deposit

Wholesaling a contract, not a property!

Make sure you have a 5 day property inspection
* Have contractor and buyers checkout the property during this period.
No contengencies when you assign your contract. Research for yourself.

Now you need an assignment contact
* Assignment fee
* Deposit, etc.
* Paid at closing from escrow company

You usually will continue to be point of contact with seller.

Make sure you get photos