If you want to be successful rehabbing houses or wholesaling, one of the key things you need to learn how to do is putting houses under contract.

Put houses under contract for the lowest price possible, and the rest will fall into place.

You can have contingencies in case you change your mind or can’t find a buyer for your wholesale deal, but get the property under contract.

Here are a few things to keep in mind when putting houses under contract.

1. Know your criteria. You need to have a clear idea of what you’re looking for. Don’t waste time making offers on properties that don’t fit with what you’re trying to accomplish.
2. Develop your deal analyzing skills. Your numbers don’t have to be perfect when you’re putting together the offer, but you need to be able to evaluate each opportunity and decide whether it’s worth pursuing.
3. Negotiate. Negotiation is a big part of this process. If you find some issues during your inspection period, don’t just walk away. Continue to negotiate. If the seller is motivated to sell, he or she should be open to hearing your position.
4. Keep the contract simple. Keep your offers simple and clear. Make your offer as clean as possible.
5. Always have contingencies in place. Contingencies protect you. Make sure your contract includes them. You’re really not taking on any risk until your contingencies expire. Nothing is at risk — not even any earnest money deposit — until your contingencies expire. Do your due diligence during the inspection period, and from there, you can either back out if you don’t like what you find or move forward with confidence.
6. Lock it down with a contract. If you’re looking at a deal and you think it’s a good one but there are still a few unknowns, get it under contract with contingencies in place and then dig deeper. Don’t waste your time over-analyzing a property before you’ve gotten it under contract. That’s what the contract period is for. So when in doubt, take action and go for it!

Everyone can do all of the above!

Put houses under contract and remember, you’re not really not taking on any risk until your contingencies expire. Do your due diligence. Negotiate.

The experience you build will be invaluable as you move forward with your successful real estate career!