How Wholesaling Real Estate Works 🏠 #shorts

➡️Financial Freedom Resources👇

[Nafregamisrocanob]

Contract assignment (flipping) is not legal in most states because it bypasses state transfer taxes etc. Legally a title company must settle/record your transaction 1m purchase then your sale to the purchaser for 1.1m. If you can find a purchaser willing to pay you 100k to purchase the contract, then that would be legal. Here’s the catch- you’re on the hook to settle if your purchaser backs out for 1.1m. Very risky process and should be left to the ones who can walk into settlement with $1m cash.

[roozavelt]

Typically u use cash offer so home's in the millions don't roll like that

[jakeliujakeliu]

Hardest part is convinced seller agent you are assigning the contact to other buyer. Once you let the escrow know, they will contact seller agent you are changing title to other entity.

[Theredeemedbychrist]

I do this my self. And it is never this easy.

[stillu]

Read your contract. It options "buyer may not assign this contract" .. good luck getting offer accepted without it. Every realtor will advise against it because it's pain in the ass

[avisocho]

You’re forgetting the part where you put down a couple grand in earnest $$…

[nicolaskutch]

Actually super informative for 60 seconds thank you. So as the whole seller it's your job to bring the deal to the title company? And then they split everything up according to what they are owed

[RunningtheCrown]

Your incorrect. This method pings an alert to pay taxes on the full amount

[aidenvincent]

Sorry Im new so I am not buying anything? Just finding a buy for a good cut?

[kentheengineer]

😂💀 hardest part is finding the deal not if you have quality data providers for buyer & seller ha ah money printer go

[Expressresolutions]

Nice explanation but the 1m dollar property is a bad analogy.

[ryane]

You only get one in Illinois unless you go virtual

[novalution]

Im confused. You buy a house for a mill, sell it for 1.1m with a 100k fee and come out breaking even??

[yoelmartin]

Lol I do this full time and I promise you it’s not that easy 😂

[REHomeOfficeCEO]

Do you need help with cold calling? 🥶📞

[irshviralvideo]

Wait, i have never seen this before. Isnt there multiple seller/buyer agents involved, closing costs. Also, which idiot buyer would buy a property knowing that its overpriced by 100k and a seller who is sellign below market.

[fredmertz]

This is why none of us can afford to buy a house in California. Speculators and greedy clowns have ruined the state housing market.

[THEFIRST]

The finger you were using to Point to the 👍 button, was actually pointing to the 👎 button. Thought you should know.

[TechOutAdam]

Can’t wait till you have to have a license nationwide.