What is Wholesaling Real Estate?
Wholesaling real estate is just simply finding cheap property to buy, putting that property under contract and then finding someone who wants to buy that property (a Land Lord, or Rehabber). You Assign the contract to your land lord, or rehabber. What you make is an assignment fee. And that’s pretty much the basics.
There are several things that go a long with wholesaling like you have to be good at finding leads, making tons of offers and have a buyers list but that is easy to learn.
Here is an Example:
You find a property that is worth $100,000 ARV (After Repair Value), What a Property would sell for in 100% perfect shape.
The house needs around $10,000 in Repairs
You negotiate with the seller to get the property for $50,000, and get the property under contract
You market the house to other investors for $60,000, $10,000 more than you paid.
Then you simply find a buyer and assign the contract to them. They get a property with $30,000 in equity in it
$100,000 – $10,000 Repairs – $10,000 Assignment – $50,000 Purchase Price = $30,000
The Key to this is That you can Do it with Zero Cash.
- Very limited amount of Cash
- Very Limited Exposure
- Ability to Make Quick Cash
- No Credit Needed
- Great Way to Get Started
- Fewer Tax Benefits
- Smaller Amount of Cash Made
- No Long Term Wealth Building
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