I wanted to layout a simple guide to the 8 steps to closing a wholesale deal.
Every deal will be different but these 8 steps will always be the same so If you learn them then you will have the right base and foundation to go off of.
1.Marketing – Marketing is always the first step without it you will never be able to get the deal.
2.Talking To Sellers – Once you get your marketing going you will then start getting calls from motivated sellers. You need to talk with them and find out everything about the property so you can determine if its a good deal or not
3.Evaluating The Deal – Once you talk with the homeowner and have all the information about the house its now time to evaluate the property to see if its a good. You will need to do this by comparing it to other properties in the same area that have recently sold. At the end of this post I will give you a resource where you can learn how to do this.
4. Making The Offer – Now that you its a good deal its time to make your offer. You will need to use a standard real estate purchase contract ( I will tell you how to get your contracts)
5. Finding The Buyer – Once you have a contract with the seller its time to start looking for a buyer for the contract.
6. Selling The Property – Once you have a buyer lined up that wants to offer you more than what you have the property under contract for then you will want to either assign the contract you have or fill out a separate contract with the buyer (To find out when to do which one check out the resource below)
7. Closing – Now its time to close the deal and get your money. This is the easy part the title company or closing attorney takes your paperwork and will put it all together for you.
8. Cash Your Check – This is everyone’s favorite part! You get your check to do whatever you want with it.
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