What Are You Really Buying From A Wholesaler?
The question that Zack Childress poses on every podcast is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? His mission is to help you find the answer.
It’s an excellent time to be involved in real estate. Create, stabilize and maintain your business. Those 3 steps lead to the 4th, which is to protect your business. Get started on these steps NOW.
Moving to today’s topic… if you’re a buyer, you are likely going to be buying from wholesalers. Zack wants you to know that a lot of wholesalers are new in the business and not totally sure about it.
If you’re buying from a wholesaler, step 1 is buying the contract, not buying the house. Owning the contract gives you the option to buy the house.
If the wholesaler doesn’t want to show you the contract, that’s a problem. You absolutely must see it. The contract tells you whether the house is free and clear. It tells you who’s paying what costs.
The contract is the product you’re purchasing. It is your right to examine the product to be sure it’s what has been represented to you and that it’s a product you actually want to own.
If you’re a wholesaler, please get educated. You could lose your assignment fee if you aren’t clear on your role. The buyer is getting only the contract in step 1, and you can’t expect him to buy it sight unseen.
Get the specialized knowledge that you need to succeed. Then learn how to execute that knowledge. Build your systems. Build your plan and execute it.
“Knowledge is not power. Implementation of that knowledge is the power.”