Wholesaling is the ideal strategy for knocking out profitable real estate investing deals with little to no money. It's the typical starting point for aspiring investors - so if you're just beginning your investing career this is a great option for you. (But it can bring excellent profits no matter what your experience level.) This course is a comprehensive guide to wholesaling. You'll learn all the essentials, including marketing, data mining, transaction coordination, acquisition, disposition, closing and other advanced topics.
I'm new to wholesaling and have listen to a couple different investors about the strategies they use. I assumed that the closing between you as the assignor & buyer & the seller happened on the same day. However in your class it was stated to close with the buyer (assignee) 10-14 days after agreement. This brings up many questions:
1. Does that mean that the buyer has to close again on the day that the closing with the seller is scheduled?
2. Does the buyer have to bring all funds to close within that 10-15 day transaction (ie if the total agreement is 80K, then they bring 80k or is it just the assignment fee.)? If they do bring all funds to close, are the funds held in escrow?
3. I would assumes the assignment fee is paid after the closing with the seller, is that correct?
4. Is this closing to be held at a title company, if there is no transfer of title what are you transferring, your rights to the contract?
I apologize if these are addressed in the next class, however I wanted to get my questions out while fresh on my mind.