transactional lenders, etc.), so ultimately it doesn’t have to come out of your pocket.
You can make money pretty quickly.
Of all the real estate investment options, wholesaling helps you turn a profit the fastest overall — usually in three to six weeks for residential properties, although some transactions can happen even faster! Of course, things could take a little longer in the beginning. But as you solidify your processes for finding and evaluating deals, marketing, and understanding all parts of these types of transactions, the process will speed up.
You can get into wholesaling even if you have bad credit.
Since you don’t need to obtain bank financing, your credit score doesn’t matter as much. That said, your score does still matter to a degree, in that you won’t have as many exit-strategy options to close on the property, if necessary. But when you’re selling contracts (e.g., your equitable interest in the contract), credit scores don’t really matter. There are however, other issues that DO matter: 1. Wholesalers cannot market properties to buyers they don't legally own. Always be clear that you're marketing that property's purchase/sales contract. More municipalities are cracking down on wholesalers who market properties they don't own, which could be seen as practicing real estate without a license. If proven, it comes with stiff penalties! 2. Always have one signed contract DIRECTLY with the motivated seller...don't use so-called "daisy chains" (multiple wholesalers blocking the end-buyer from
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