talking to the seller). Your end-buyers will also appreciate it. An exception would be if two wholesalers are sharing the profits (equitable interest) on the same direct-to-seller contract...provided there's enough room. 3. If you're worried about an end-buyer ever going around you, cutting you out of a deal with the seller, sign a non- compete / non-disclosure (NCND) agreement, which basically means they agree not to do that. Though more costly, it's better to have your attorney write it to protect your interests, instead of downloading a generic one online.
Back to the upsides: you get to be your own boss.
You make your decisions, set your schedule, and decide with whom you’d like to work. Of course, you’ll answer to your investors if you have any, but you’re the person in charge.
It’s less risky than other kinds of real estate investments.
When you’ve got a good buyer lined up, you’ve already helped lessen the risks. Other steps you can take to reduce risks include putting contingency clauses into the contract and ensuring your deposit isn’t too large. However, risks can’t be totally avoided in any kind of investment, including wholesaling. So, let’s take a look at what the risks entail.
RISKS
You don’t get a steady income, plus benefits.
If you’re someone who prefers counting on an expected income every couple of weeks, you need to decide how important that is. Due to the nature of the process, you can’t predict when you’re going to find a great property, line up that buyer, and have all the
41
Powered by FlippingBook