FUNDAMENTALS
WHOLESALING
Being Creative withWholesale Deals
HOW TO PROVIDE YOUR INVESTORS WITH MORE PROPERTIES
by Brian Snider
holesaling is a great way to get started in real estate, capitalize
yourself apart from other wholesal- ers in your market.
an escrow agreement stating that we will hold 10 percent of the sales price in escrow at the title compa- ny after closing until the property is vacant. Then, during the sale of this property, we just pass this escrow agreement along to our buyer. The seller gets the money and time they need, the buyer gets the property they want, along with some compen- sation if the seller is not out on time and you are still able to collect your assignment fee. Another option is to do a short- term lease with the seller if they need a few months to move out of the property. In this case, instead of just holding money back at the clos- ing table, the seller would just pay a
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on deals that you are not going to be buying yourself, and provide other investors with properties they need while making some decent money. Your typical wholesale deal consists of a vacant property that the seller needs to get rid of due to a distressed situation. As a wholesaler, if you are only working vacant property deals, you are limiting yourself and the deals that you are putting in front of your buyers. Every investor in the country is looking for more deals. By being creative with your solutions for property sellers, you will be able to provide those investors with more properties for their inventory and set
WHOLESALINGWITH ESCROW AGREEMENTS IN PLACE Many times, sellers need the money from their property to be able to move onto their next residence before they can actually vacate the property that you need to wholesale. We have found that allowing the seller time to move out, while hold- ing money in escrow after closing will allow you to still wholesale the property. For example, let’s say that your seller needs 30 days to move out of the property after closing. In this scenario, what we do is write up
56 | think realty magazine :: may 2021
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