{"id":5946,"date":"2023-03-08T00:13:08","date_gmt":"2023-03-08T05:13:08","guid":{"rendered":"https:\/\/dealworthit.com\/help\/docs\/knowledge-base\/creating-an-account\/"},"modified":"2025-03-20T18:59:54","modified_gmt":"2025-03-20T22:59:54","slug":"creating-an-account","status":"publish","type":"docs","link":"https:\/\/dealworthit.com\/help\/docs\/knowledge-base\/getting-started\/creating-an-account\/","title":{"rendered":"Wholesaling Guide"},"content":{"rendered":"\n

Real Estate Wholesaling Guide Using DealWorthIt<\/strong><\/h2>\n\n\n\n

Step 1: Understanding Wholesaling<\/strong><\/h3>\n\n\n\n

Wholesaling involves finding deeply discounted properties, securing them under contract, and assigning the contract to an investor buyer for a fee. Your goal is to act as the middleman between motivated sellers and cash buyers.<\/p>\n\n\n\n

Step 2: Setting Up Your Business<\/strong><\/h3>\n\n\n\n

Before starting, ensure you have:<\/p>\n\n\n\n

    \n
  • A Business Entity (LLC)<\/strong> (Recommended for legal protection)<\/li>\n\n\n\n
  • An EIN (Employer Identification Number)<\/strong> for tax purposes<\/li>\n\n\n\n
  • A Business Bank Account<\/strong> to receive assignment fees<\/li>\n\n\n\n
  • A Title Company<\/strong> or Real Estate Attorney<\/strong> familiar with assignments<\/li>\n<\/ul>\n\n\n\n

    Step 3: Finding Motivated Sellers Using DealWorthIt<\/strong><\/h3>\n\n\n\n

    DealWorthIt allows you to find both on-market<\/strong> and off-market<\/strong> deals.<\/p>\n\n\n\n

    Methods to Find Deals:<\/strong><\/h4>\n\n\n\n
      \n
    1. Off-Market Properties <\/strong>(use DealWorthIt)<\/strong>:<\/strong>\n
        \n
      • Use DealWorthIt’s Skip Tracing<\/strong> to get seller contact details<\/li>\n\n\n\n
      • Filter properties by pre-foreclosures, absentee owners, and tax liens<\/strong><\/li>\n\n\n\n
      • Contact owners directly via cold calling, SMS, or direct mail<\/li>\n<\/ul>\n<\/li>\n\n\n\n
      • On-Market Properties <\/strong>(use DealWorthIt)<\/strong>:<\/strong>\n
          \n
        • Use MLS Comps & Sales History<\/strong> to find discounted deals<\/li>\n\n\n\n
        • Reach out to real estate agents and make offers<\/li>\n<\/ul>\n<\/li>\n\n\n\n
        • Driving for Dollars:<\/strong>\n
            \n
          • Use DealWorthIt to research property details<\/strong> and track leads<\/li>\n<\/ul>\n<\/li>\n\n\n\n
          • Networking & Direct Marketing:<\/strong>\n
              \n
            • Attend real estate meetups<\/strong> and social media groups<\/strong><\/li>\n\n\n\n
            • Use Facebook Ads, Google PPC, or Craigslist<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n

              Step 4: Analyzing the Deal with DealWorthIt<\/strong><\/h3>\n\n\n\n

              Once you find a lead, use DealWorthIt to determine if it’s a good deal.<\/p>\n\n\n\n

              Key Analysis Tools in DealWorthIt:<\/strong><\/h4>\n\n\n\n

              \u2705 Owner Information & Property History:<\/strong> Check mortgage details and liens
              \u2705 Comparable Sales (Comps):<\/strong> Find similar recently sold properties
              \u2705 Market Rent & Demographics:<\/strong> Determine rental potential
              \u2705 Repair Cost Estimator:<\/strong> Estimate renovation costs
              \u2705 Profit Calculation:<\/strong> Use ARV (After Repair Value) and MAO (Maximum Allowable Offer) formula:<\/p>\n\n\n\n

              MAO = (ARV \u00d7 70%) – Repair Costs – Wholesale Fee<\/strong><\/p>\n\n\n\n

              Example Calculation:<\/strong><\/p>\n\n\n\n

                \n
              • ARV: $200,000<\/strong><\/li>\n\n\n\n
              • Repairs: $30,000<\/strong><\/li>\n\n\n\n
              • Wholesale Fee: $10,000<\/strong><\/li>\n\n\n\n
              • MAO: ($200,000 \u00d7 70%) – $30,000 – $10,000 = $100,000<\/strong><\/li>\n<\/ul>\n\n\n\n

                Offer no more than $100,000<\/strong> to the seller to ensure profit.<\/p>\n\n\n\n

                Step 5: Getting the Property Under Contract<\/strong><\/h3>\n\n\n\n

                Once a seller agrees to your offer, lock up the deal with a Purchase and Sale Agreement (PSA) – This template together with others available for download on DealWorthIt<\/strong>.<\/p>\n\n\n\n

                \u2705 Use DealWorthIt to Generate a PSA Template<\/strong>
                <\/strong>\u2705 Include an Assignment Clause<\/strong> allowing you to assign the contract
                \u2705 Submit an Earnest Money Deposit (EMD)<\/strong> to a title company ($10-$100 recommended)<\/p>\n\n\n\n

                Step 6: Finding a Cash Buyer Using DealWorthIt<\/strong><\/h3>\n\n\n\n

                Now, assign your contract to a real estate investor.<\/p>\n\n\n\n

                Ways to Find Buyers:<\/strong><\/h4>\n\n\n\n
                  \n
                • Cash Buyer Database in DealWorthIt<\/strong> (Find investors who recently purchased similar properties)<\/li>\n\n\n\n
                • Real Estate Networking Events & REIA Meetings<\/strong><\/li>\n\n\n\n
                • Facebook Groups & Craigslist<\/strong><\/li>\n\n\n\n
                • Email Blast to Buyer Lists<\/strong><\/li>\n<\/ul>\n\n\n\n

                  \u2705 Use DealWorthIt’s Buyer CRM<\/strong> to track buyer interactions<\/p>\n\n\n\n

                  Once a buyer agrees, sign an Assignment of Contract Agreement<\/strong> with them.<\/p>\n\n\n\n

                  Step 7: Closing the Deal and Getting Paid<\/strong><\/h3>\n\n\n\n
                    \n
                  1. Submit all documents to the Title Company or Attorney<\/strong><\/li>\n\n\n\n
                  2. The end buyer will wire funds<\/strong><\/li>\n\n\n\n
                  3. The title company<\/strong> will handle legal transfers<\/li>\n\n\n\n
                  4. You receive your assignment fee<\/strong> at closing<\/li>\n<\/ol>\n\n\n\n

                    \u2705 Use DealWorthIt to Track Closing Status<\/strong>
                    <\/strong>\u2705 Ensure Payment via Wire Transfer or Check<\/strong><\/p>\n\n\n\n

                    Step 8: Scaling Your Wholesaling Business<\/strong><\/h3>\n\n\n\n
                      \n
                    • Automate Lead Generation with DealWorthIt<\/strong><\/li>\n\n\n\n
                    • Outsource Cold Calling & SMS Marketing<\/strong><\/li>\n\n\n\n
                    • Build Long-Term Relationships with Buyers & Sellers<\/strong><\/li>\n\n\n\n
                    • Reinvest Profits to Market for More Deals<\/strong><\/li>\n<\/ul>\n\n\n\n

                      Final Thoughts<\/strong><\/h2>\n\n\n\n

                      Wholesaling is a numbers game\u2014more offers = more deals closed<\/strong>. By leveraging DealWorthIt’s powerful data, CRM, and automation tools<\/strong>, you can streamline the entire process, from finding deals to getting paid.\ud83d\ude80 Start your first deal today using DealWorthIt and build your real estate empire!<\/strong> \ud83d\ude80<\/p>\n","protected":false},"excerpt":{"rendered":"

                      Real Estate Wholesaling Guide Using DealWorthIt Step 1: Understanding Wholesaling Wholesaling involves finding deeply discounted properties, securing them under contract, and assigning the contract to an investor buyer for a fee. Your goal is to act as the middleman between motivated sellers and cash buyers. Step 2: Setting Up Your Business Before starting, ensure you […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":2231,"menu_order":23,"comment_status":"closed","ping_status":"closed","template":"","doc_tag":[],"class_list":["post-5946","docs","type-docs","status-publish","hentry","no-post-thumbnail"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/docs\/5946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/docs"}],"about":[{"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/types\/docs"}],"author":[{"embeddable":true,"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/comments?post=5946"}],"version-history":[{"count":16,"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/docs\/5946\/revisions"}],"predecessor-version":[{"id":7608,"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/docs\/5946\/revisions\/7608"}],"up":[{"embeddable":true,"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/docs\/2231"}],"wp:attachment":[{"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/media?parent=5946"}],"wp:term":[{"taxonomy":"doc_tag","embeddable":true,"href":"https:\/\/dealworthit.com\/help\/wp-json\/wp\/v2\/doc_tag?post=5946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}