I just want to walk you through a brief wholesale deal. Let's assume now that you've gone out and you've put a property under contract for $100,000 and then you've assigned it to another buyer for $105,000. Now when you go to closing, your end buyer will actually bring $105,000 - $100,000 for the purchase and $5,000 for the assignment fee. Now, what helps is if they bring two separate checks and this is up to the the company's discretion because guys, I don't ever want you closing a deal without a title company being ...

  This is a great question because one of the things you do not want to do is demand so much money for the deal that nobody will buy it. You need to leave enough of what we call “meat on the bone” for the next person. They still need to be able to make a profit after they have invested me, renovation costs, and paid off their contractors. There needs to be enough room after all the closing fees, real estate commissions, title fees, and your wholesale fee for them to still make a profit. ...

  Why invest in the foreclosure scene? First of all, you get discounted pricing. It's also speedy purchases and there's often wonderful profit opportunities if purchased correctly. The main thing I love about investing in foreclosure properties at a trustee sale or sheriff's auction is that in most markets you buy today, you own today. That's pretty rapid money. In your own market, you need to make sure that you check to determine that if you buy today, you own today. In some markets there is a redemption period that the homeowner has. I've heard that ...

  Now that we have developed our investment criteria, the next thing we need to do is structure the deal. We first do this by formulating and delivering the offer. Then we negotiate with a seller, get the offer accepted, and then we determine the best exit strategy. What is your exit strategy? Could there be more than one? Maybe you want to wholesale this deal first and then fall back to a rehabbing/ retailing it as a plan B and even keep it as a rental for plan C. These are some of the key questions ...