How do I find REIs for wholesaling, etc? (long) - Posted by Tom - WA

import · February 13, 2001, 11:38am

Posted by Tom -WA on February 13, 2001 at 17:39:40:

nt

import · February 13, 2001, 11:38am

Posted by Tom - WA on February 13, 2001 at 12:38:14:

I’ve been reading these boards for a while and also reading lots of books. At this point, with no cash and not wanting to take out a second on my home, I want to place an ad such as “I buy houses” and find some good properties (I have time to do this). Also, due to my lack of experience, I want to start out by “wholesaling” to REIs.

Where do I find these folks? I’d like to have some in mind, know their needs, etc., so I won’t waste time.

Also, what’s the best way to handle this? Contract with the seller with a “subject to financing” clause and assign it? How would I build my profit into that arrangement? Does the REI just pay me out of her/his pocket?

Sorry for the length, but I’m raring to go but my wheels are spinning!

Thanks for any help,
Tom in WA State (Seattle area)