Back To The Basics – Doing It Right From The Beginning

Posted: August 10, 2011 in Uncategorized

Wholesaling is a strategy for real estate investors to find bargain priced properties and pass them on to investors who will fix them and sell them at retail or hold it as a rental. Wholesalers charge a fee for their service, anywhere from $3K-20K per deal. You may choose to wholesale properties as your primary source of income for your business or as a substitute for cash flow during slow times. In either case, wholesaling is a great way to make money in a short period of time.

Flexibility is also a great benefit to wholesaling. The business of wholesaling is done primarily on the computer and driving to view properties. You can make your own schedule and be your own boss. Probably the most important thing that you need to remember when you decide to wholesale is, your buyer should get the majority of the profit! This is important because your buyer will be the one to purchase and rehab the property. There has to be enough room in the deal for your buyer to do this and still retain a nice amount of money for cash out and/or equity. This does not mean that you find properties and give them away for $1,000. If you did that, you would be a bird dog, not a wholesaler. Your profit will vary depending on the house, but the better you are at locating properties and putting together offers, the greater your profit will be while still maintaining an excellent profit for your buyer.

 

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