Posts Tagged: ‘wholesaling’

Wholesaling Houses? Hold Your Horses

May 14, 2012 Posted by admin

People love spontaneous decisions. There’s this thrill brought by acting on impulse. If you’re among those who are excited because you heard that you can start wholesaling houses without a capital, hold your horses! It is true that you can start in this business even without the money to buy a house. However, it is imperative that you know how this system works. Some pointers won’t hurt as well. So before you start wholesaling houses, read these reminders first.

This business is defined in the simplest terms as quickly buying and selling property for a profit. You don’t technically buy the house because you just put it under contract. You will then sell that contract to buy the house to another wholesaler or a rehabber. You will get an assignment fee for this. It is important to note that you will work under time pressure because a contract to buy a house will only valid for days. If you don’t find a buyer fast, you will pay holding costs and that will lessen your profit.

Wholesaling houses is about hunting for motivated sellers. Do you even know who they are? These are home owners who are “motivated” to sell their properties. For various reasons, what they care about is selling the property fast. This puts you in a better position to negotiate and dictate the price of the property. Recent divorcees are considered motivated sellers. They just want to sell their property because they are probably exhausted with the proceedings. Owners who have lost a loved one in that property or those who inherited the property in question are also considered motivated sellers. Apart from owners who are struggling financially, families who have already bought a new property and motivated to sell their old home.

Lend an ear. Showing a little sensitivity to your seller is a sign of a good negotiator. Remember, you need good negotiation skills in wholesaling houses. It will also help to take note that you are dealing with motivated sellers and these people may be battered emotionally. Don’t make it appear as if you want to dump more pain to them by taking away their property. When negotiating with the seller, be sure to listen to their story and why they are selling the property. Tell them that you help them by offering a reasonable price for that house.

Lastly, be sure to check sites like REIwired.com that offer quality education about wholesaling and other forms of real estate investing.

REI Wired is the pinnacle of real estate education by serving high-quality content through high-quality videos. Sign up only takes a minute and you can start right away! Learn More

Article Source:http://www.articlesbase.com/investing-articles/wholesaling-houses-hold-your-horses-1576713.html

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Wholesaling Houses: The Secrets to Success

December 18, 2011 Posted by admin

According to many real estate investors, wholesaling houses is one of the best ways to make money in the housing industry. You don’t need huge investment capital to get started in this business. In addition, because you’re not exactly buying a property, you’re not exposed to huge risks that can badly affect your career as an investor.

In the real estate business, wholesaling basically refers to the process of placing a property under contract and then selling or “passing on” that contract to another buyer. The wholesaler somewhat serves as middleman between the home seller and the buyer. He makes money from the “assignment fee” he collects from the buyer of the property.

Although wholesaling houses look simple from the outside, it requires patience, hard work, and dedication. You also have to consider a lot of things to ensure that your business is on the right tract. To help you succeed in your chosen career, here are the things you should do:

  1. Create a seller’s list. Such a move can help you obtain a stable source of properties that you can wholesale. Many wholesalers quit the business because they can’t find houses that they can place under contract. To avoid this particular setback, you should get yourself acquainted with as many motivated home sellers as possible. You should also befriend probate attorneys and other individuals who know people who might be willing to sell their properties.
  2. Make a buyer’s list. After generating a seller’s list, the next important task is to create a buyer’s list, which can help you move properties quickly. To have a strong list, you should join the local real estate investing club because it allows you to meet fellow investors, who can be your potential clients or business partners.
  3. Create good marketing strategies. Having a good marketing plan allows you to find properties and buyers easily. Be as creative as possible.
  4. Improve your relationship with appraisers, lenders, closing attorneys, and other people involved in the business of wholesaling houses. Just like in any other business, having good rapport with the people you work with can help ensure a smoother work flow. Therefore, it wouldn’t hurt to build good relationships with such individuals.

Wholesaling houses can bring you big profits and great opportunities if you just play your cards right. So if you want to learn the ins and the outs of being a wholesaler, visit www.Rehablist.com, a website that provides quality real estate education.

Rehab Real Estate is your perfect guide to the exciting and lucrative world of real estate investing. Whether you’re into rehabbing houses, property investment buying, or fix and flip, we’ll teach you everything you need to know so that you’ll earn MAXIMUM PROFIT in each and every deal.

Article Source:http://www.articlesbase.com/investing-articles/wholesaling-houses-the-secrets-to-success-1525369.html

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Tags: houses, secrets, success, wholesaling
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REIWIRED: The Buzz About Wholesaling Houses

January 4, 2010 Posted by admin

The real estate investing world is abuzz over what people are calling wholesaling houses. Although this business has been attracting considerable attention over the past few years, it is becoming more popular nowadays. Much of this has to do with the economy trying to recover from the recession.

Because the real estate market is still rising from a slump, property prices have yet to pick up. This is giving investors a rare opportunity to snap up properties for bargain prices. Those who are into wholesaling houses are making huge money from this phenomenon.

Where do they get all the capital they need to purchase the properties they sell? Actually, they started even without a massive capital. They didn’t need to have enough money to buy a house because they don’t buy houses. What wholesalers do is place a property under contract. What they “sell” is the contract to buy that property. By assigning that contract to a buyer, they will get an assignment fee. $10,000 is a normal assignment fee. Imagine earning $10,000 in a matter of few days just by find properties and buyers.

You earn money without putting down any capital. Because of that, this business is known as the doorway to the world of real estate investing. When you secure enough capital, you can start rehabbing properties. In the future, you can even have enough money to venture into real estate development. But if you don’t have the funds, wholesaling houses is the way to go.

Just remember, this business is fast-paced. From finding properties to finding buyers, you must operate fast. That is why it is also called flipping houses. When you place a property under contract, that agreement will only be valid for a few days or weeks. If you don’t “buy” the property within that period and want to extend the contract, you must pay holding costs. If you choose to let go of it, you’ll lose an opportunity to make huge money.

What you can do to avoid these scenarios is advertising your business. Tell people you meet that you are buying properties. They might refer home owners to you. That way, you will find more properties to wholesale. You can also try building a buyer’s list. This is a list of buyers who are ready to purchase properties. Wholesaling houses is easier with this list. Upon finding a property for sale, all you need to do is place it under contract and then contact the names in your buyer’s list.

Want to learn more about wholesaling houses? Go to REiwired.com today and you’ll know what keeps the real estate investing world a buzz.

REI Wired is the pinnacle of real estate education by serving high-quality content through high-quality videos. Sign up only takes a minute and you can start right away! Learn More

Article Source:http://www.articlesbase.com/investing-articles/reiwired-the-buzz-about-wholesaling-houses-1662419.html

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