Real estate wholesaling contracts and wholesale paperwork for real estate investors, all the legal documents you need FREE.

by | Indy Anna, Real Estate Investing

Real estate wholesaling contracts and all the paperwork for real estate investors, all the legal documents you need FREE.

As a real estate wholesaler you need to have the right contracts, paperwork and legal documents so on this page you can download these documents for FREE.

First of all, THANK YOU again for making this channel the number one channel for Indiana real estate on YouTube according google analytics and SocialBlade info for BigReia.com.

Real estate wholesaling contracts and paperwork,
step-by-step how to wholesale a real estate deal 101.

Today Indy Anna Explains…
– The exact steps to wholesaling real estate
– The exact wholesaling contracts you need, prepared by some of our legal people and where you can download them for free
– Some final legal notes from professionals and THREE BIG warnings and pitfalls to avoid for new investors

You need to be masterful at generating buyer and seller leads so each wholesale deal as an opportunity to generate more and better leads.  You also want to have a a buyers list and generate/convert potential buyer leads as well.  Even if you don’t get legal title to the property you want to FOLLOW UP and make sure everything gets done correctly.

Once your investor signs the purchase and sale agreement and purchase contracts your job is NOT done.  Any moron can do or sign a real estate assignment contract – it takes a REAL PRO to deal with every detail and make sure you take care of all parties involved.  Most wholesalers and real estate agents are turds so it is easy to stand out and smoke them all. 

MASTER THE RIGHT SKILLS.

You should be THE master in your market of finding the best property to invest in, real estate agents and investors are NOT good at this and you can easily get people eating out of the palm of your hand.  This is much more than just estate purchase and sale contracts or other papework this is about how to bring it all together.

What is wholesaling?
– I’ve made many classes on this before so you can check BigReia.com for more in depth descriptions on this
– For now just now that while an investor will “buy low and sell high” a wholesaler will “buy really low and sell low” so that the investor can buy low and sell high and you get an assignment fee
– Make sure to check out our class on how to build a $100k/mo real estate wholesaling business, Azam walks you through the exact steps that our Heroes (myself included) took and on here’s a great diagram that explains where wholesaling falls in place.  You’ll notice the wholesaler assigns/sells the deal to the investor who then fixes and retails the property:

So here are the steps and then I’ll go over the contracts:

1.)  Sign offer with the seller.
First you talk to the seller and solve their problem by getting them a cash offer and they understand that you may buy it yourself or have a colleague step in your place and close the deal.  Honesty and transparency is important.  The contract with the seller with an assignment clause that is step one.

If you need help on how to know what to offer, what to say, how to calculate comps, check out our other classes or send me an email.

2.)  Bring in the investor.
Now with the offer written, you should already have your investor waiting and ready to go and this deal is perfect for them, if not then go through my class on how to screen your cash investors and build your VIP list.  So now you assign the deal to the investor and they step in your place.

To do this your investor will go through your ATTORNEY.  This will either be your title company, realtor, closing agent, etc. for more on this you can go through my class on building your legal team.  You can also look at our contacts at BigReia.com/people

Your attorney and legal team will have the investor sign the assignment form, the contract to close and whatever other disclosures are needed to keep you out of trouble.  This is also where the investor brings your money and deposits it with your attorney.

3.)  Get the deal to closing.
Stay on top of the deal and make sure it closes and that the seller is getting everything that they want and the investor is ready to rock on day one.  You want to help with the finding the contractor, hard money and/or private money, advertising the property and finding buyers, etc.

Make sure you get an overall idea about the state and the shape of the real estate property before you start marketing it to your potential buyers’ list. You should know relevant information about the property in order to sell it to the right buyer within the short time frame you have. You also need to estimate the repair costs on the house, as getting the wrong estimation might hurt your credibility leading to buyers not trust working with you again.

You should be able to look a property and know what it will take, go through my class on how to accurately estimates repairs in less than 60 seconds for more on this.

A few notes:

Here’s something one of our attorneys said:

Once you have a buyer you need to know they are on it.  To guarantee your profit from closing the deal, request an earnest money deposit from the buyer. If the buyer is serious, he/she will be willing to give the deposit and seal the deal. The deposit could be a small amount or a large sum, it is up to the wholesaler to decide.

Your profit comes from assigning the agreement and passing the baton to the end buyer. For example, let us say you agree with the seller to buy the house for $100,000, and you assign the agreement for $150,000, then you receive a profit of $50,000 for legally transferring the wholesale real estate contract to a new end buyer.

Note from me:

I love our legal people and that’s great advice but the big secret is the quality of relationship, just make sure to take care of everybody and that they always win.  Once you do that you can send an email out and get 15-20k and more in your bank account easily.

Clauses:
Typically there isn’t an inspection period of an assignable contract that needs included but making sure all of the ‘clauses’ are spelled out in the contract clearly is SUPER important.

Also, here are three BIG warnings for new wholesalers and pitfalls to avoid:
– Don’t make anybody pay for you to learn – if you’re new do NOT make binding offers, they can sell and do whatever to get their cash and you are not obligated to buy either.  If they find an investor who pays more call them up and learn from them what you need to improve.
– Don’t think your invincible- being a “wholesaler” with “equitable interest” or being a “principal” in the transaction does not necessarily mean that you can legally market the property, laws are changing you can go through my other class on “Do I need a real estate license to wholesale” for more
– Don’t just assign and dash – if you want to be able to send an email and have cash just show up then you MUST build the relationship and FOLLOW UP to make sure that the asset is producing in the desired way.

And that’s basically it
– I asked my legal people (BigReia.com/people) to come up with legal forms that I could give away and so I have three that you can download right now
– One is the offer, two is the assignment fee and the third is a JV agreement if you are working with an investor
– You can get all those forms/contracts for free below and I asked them to make sure that they were not Indiana specific so you can use them but please make sure to have YOUR legal team go through and modify or replace them

So in review:
– We went over the 3 steps to wholesaling a property
– We also went over the three main contracts that you need and you can go to the link below and download them for free at BigReia.com
– We also went over a few final notes from out legal people, and three BIG warnings for new real estate wholesalers, I hope all that helps.

You can download all three documents here:

Here is a copy of the purchase agreement HERE.

Here is a copy of the assignment form HERE.

Here is a copy of a JV contract HERE.

Remember that last one is if you ever partner with anybody, get deals from an investor, etc.

Make sure to check YOUR LEGAL TEAM

As always when I need documents like this I do the same thing that I suggest you do, I got to my legal people and I tell them exactly what I’m going to do (share this with you guys for example) and then they send the appropriate documents.  You want to have YOUR legal folks check them out and adjust.

For more on the legal team and others I work with and suggest:  https://www.BigReia.com/people.

As always please let me know if you have any other questions and also make sure to check out our other classes that will help on this it’ll help you to…

Make the Universe Smile.

Thanks!
~ Indy Anna
Love (at) BigReia.com
317-969-5619 (yes I answer so please text first)

Want more (brilliantly) EPIC posts of real estate investing and bidness badasssery...?

There is a great post and class on the 38 Ways to Buy Apartment Buildings Zero Down with Pet Policies, and here are some other helpful and EPIC posts... for starters as a real estate investor if you ever want to build a business that makes you 30 grand a month then you MUST do this...

Wanna Create Generational Passive Income Buying Real Estate and Small Businesses?

Here's a class on exactly how to make $30,000 in passive income as an out of state Indy landlord.  Exactly how many Indiana rental properties do you need to make 30 grand a month.  Anna can you help me invest in Indianapolis turnkey real estate investment properties?

There's also a great class Azam did on how anybody can retire in the next 1-2 years with $30,000 a month in passive income by buying and selling businesses zero down.  What about Micro Flipping?  We have a great class on how to start micro-flipping real estate zero down from your house and make $500/day, speed wholesaling 101.

There’s also another great class on how to buy apartment buildings zero down that you can check out as well.  This relates directly to growing income on rental properties.  Speaking of which make sure to check out our epic page on 14 ways to avoid tenants from hell.  Also we have a great post on how to make build a "six figure a month" real estate wholesaling business.

Also here is a post on how I did this and I flipped a house off Zillow for 30.  Also you can check out the post on five steps to flip a house right off Zillow for 40 grand.  You can also check out our other epic post on 57 ways to make money with vacant land.

Here’s another post on how a Hero flipped a house off Zillow and made 40k in a few weeks while he was learning to read.  Also you want to check our post on the EPIC $25 million letter and the copy writing lessons for real estate investors, you'll love it.  Also you can see how ONE letter is making me $9,000 a month.  Also you can check out the post on 101 FREE places to advertise your houses.

Also check out the "SA" class and your REAL chances of create social mobility and income ascension with your real estate business.  Brilliant stuff.  Also there is a great post on the ONLY way you'll ever make 30 grand a month as a real estate investor and/or business builder.  Another brilliant class with a free downloadable Investor Guide is about 19 Ways to Make $10,000 a Month by Helping Tired Landlords.

Plus make sure you check out Azam's post on how to hire a realtor that makes you $10,000 a month... while you sit back with your shoes kicked up on your desk and fingers folded behind your head.  Also there is a great post on how to make five grand a week from putting out signs.

Also we have some great posts on 30 ways to buy real estate with no money down.  That is a two part series so make sure to watch the second part on the 30 ways to buy real estate zero down and with no loans or credit.  I also get questions about our "Epic Flipping" and how to turn $1 into over $25,000 by flipping ordinary items for exponentially high ROI.

And don’t forget our EPIC page on 100 FREE ways to find motivated sellers, we are making the number one page in the world on FREE ways of finding motivated sellers.  Also check out how I find motivated sellers from code violation properties, and also how I make over $1,500 a week giving investors access to that list. 

Speaking of lists, for a list of the "Good People" and My Indy Anna Homeys - this is a FREE list of EVERY possible contact that you'll ever need to build a real estate business in the Indianapolis or the Midwest.

You can also get a LONG list of every contract, piece of paperwork and legal document that you'll EVER need for your real estate business all FREE to download.

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When I first go started I thought wouldn't it be great if somebody put together ONE list of every possible contact that I would ever need to build a passive income with Indiana real estate - or any Midwest real estate?  Well that's exaclty what I did with our “People Page” here it is:

A totally FREE list of every possible real estate professional contact you’ll ever need to do unlimited deals, start and scale your real estate business and create generational passive income with real estate anywhere Indiana or the Midwest.

Stay here at BigReia.com and you’ll become allergic to being an LC and addicted to improving the world and creating Income Ascension and Social Mobility for you and yours… 

Thanks so much!  = )

Make the Universe Smile.

~ Indy Anna
Love (at) BigReia.com
(YES that's my actual Direct Line and I really do answer lol, so please text me first Thx!)

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