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Wholesale real estate investing (i.e. "quick-turn" or "flipping" real estate property) is conceptually very simple. Here's how it works:

First, "Investor A" finds a great real estate deal with a lot of equity. Typically, Investor A will have spent a significant amount of time, money, and expertise to find the deal, negotiate the terms, and get the property under contract. By putting the property under contract, Investor A now has control of the property, and the equity in the property.

(For this example, imagine that Investor A has found a property worth $200,000 and has set a purchase price of $115,000 and he also knows that there are $15,000 in repairs, which leaves an equity position of $70,000).

Second, "Investor A" finds another party, "Investor B". Investor B recognizes that the contract that Investor A has established is worth $70,000 in equity, and so he strikes a deal with Investor A to turn the deal over to Investor B in exchange for some amount of cash, called an "assignment fee" (we'll use the value of $12,000 in this example).

So Investor A is giving up $70,000 in "potential" profit in exchange for $12,000 in current profit. And Investor B is paying $12,000 because he believes he can make more than that on the deal, since there's a full $70,000 of equity built in.

This deal between Investor A and Investor B is called an "Assignment", because Investor A is assigning the contract to Investor B.

Third, Investor B does his "due diligence" (i.e. inspections, appraisals, etc.) to confirm that the deal is as good as he/she thinks it is.

Finally, at closing, Investor B closes the purchase of the property, and Investor A receives the assignment fee from Investor B.

This is obviously, a simplification of the process. But this is essentially how the "quick-turn", real estate flip deal works - not so difficult now, is it?

Now, get out there and hunt them deals down!

What? Not sure where or how? I can show you 3 quick sources to get ya started right away...