A wholesaler markets to find a motivated seller, gets the property under contract, verifies the title is clear, then sells that contract to a buyer and pockets a fee for connecting them. It's marketing and sales, not property ownership.
What is wholesale real estate? Forget the fact that we are in the real estate industry and we're talking about houses and land. We are talking about marketing and sales. Let me show you. We use marketing to find a motivated seller that's interested in selling their property for a specific reason under market value and quickly. We use sales to find out that reason, dig into that pain, and get that property under contract. Once we have that contract, we take it to the title company and make sure that everything that the seller said is true. No judgments on the property, no liens, no other banks are owed, no other mortgages, and no other owners. Once we know that the title is clear, we go ahead and market for a buyer, the person that's going to fund the whole thing. We make sure to show them, let them know, answer all the questions, and sell them on this deal. Once they sign the contract, they submit earnest money so we know that they have skin in the game and they are more likely to close on the property. Once that is good, we wait till closing day and we get the big bag. Why? Because we're helping the buyer, We are bringing contracts, we're talking to the title company, we're bringing more contracts, and we're talking to the seller. Because we play so many parts, we get the big bag.
