Ok folks, now that you have the right mindset it's time to step out and take real action!
Note: Wholesaling can be done with NO credit and NO cash out of your pocket.
Here's the basics of wholesaling:
Find a motivated seller and negotiate a sales price around 40 to 75% of the after repair value (the value of the house if it were in good or live in condition). Of course, the lower the better. Put the house under contract (put your name and/or assigns) with as long an inspection period as you can negotiate. (45 days or more, the longer the better, you need time to market it.)
Take the price that you agreed upon and mark it up anywhere from $1,000 up, depending on homework you've done to get the appraised value of the home, comps in the area, etc.
Market the property to your list of buyers. You should constantly be building a database of them until you have a few hundred or more.
Then once you find your buyer, you assign the purchase contract to them. Then you do an assignment contract with your buyer for your 'fee'. You pay no money out of pocket. (The buyer pays the earnest deposit and any down payments.)
Take both contracts to your title company and they will call you when your check is ready. At this point you're out of it now (till closing.) Make sure you tell them to contact the seller and buyer directly and provide their information.
Summary: You're simply the connector between buyer and seller and getting paid an assignment fee for doing so.
The more you do, the more money you'll make... SUWEET!
Are you ready to try it?