Wholesale Agreement Template For House In Orange
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The wholesaler contracts with the seller and structures the deal as a middleman. The buyer is buying the contract and, ultimately, the property.
Your local real estate investment association(s). Put an ad in Craigslist. Look for ``Bandit Signs.'' Most of the people who put up bandit signs are wholesalers, not rehabbers. Check Meetup. There are some very good groups on Facebook. Do an online search, making it local. Contact some investor-friendly Realtors.
While it's not strictly required, creating an LLC can bring significant perks to your wholesaling venture. For starters, it shields your personal assets from any business-related debts or legal troubles.
"South Carolina passed a hard and fast law stating that wholesaling without a license is going to be illegal if you don't own the property as well."
For example, a wholesaler finds a motivated homeowner and gets a distressed property under contract for $200,000. Then, they market the property to their buyers list. A flipper sees potential and agrees to buy the home for $210,000.