Profile picture for 26margaret

im looking to wholesale properties/ i take it for sale by owner would be the best way to go, right?

  • September 29 2009 - Wharton-Hawthorne-Bella Vista
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Answers (11)

Hey there Margaret.

You can do it!

You just have to be willing to put in the effort and be willing to step outside of your comfort zone.

I had a real estate investing student of mine that signed up over 100 houses in his first two years in the business.

I'd like to share with you how he did it:

1) First he took some investing classes so he knew what a deal is supposed to look like. In other words, you need to know the numbers going in.
2) He learned how to market for properties
3) Put the property under contract
4) All the while, he was going to local real estate investment clubs and putting out flyers showing himself to be a bonafide wholesaler.

Guess what? He started doing deals by simply locking up properties under contract and flipping the contracts (purely legal by the way) to the investors that would actually close on the deal and pay him a fee for it.

You should expect to get about $1,000 for every $5,000 of profit your end buyer investor expects to get on the deal.

I have a property investing software on my website I would like to give you.

You just have to plug in the numbers to fit your local area, but you're welcome to it.

If there is anything I can do for you, please send me a message.

Dennis
  • January 27 2010
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Profile picture for Blue Nile
You want to be a "wholesaler"?  Meaning you want to sell houses in lots of more than one, at at least a 10% discount from present market value?

You better have lots of cash and a very thorough knowledge of the market.
 
  • January 27 2010
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I would recomend to find good real estate agent that is familiar with investment properties and with your goal in mind he or she would be able to help you. Hope it can help [content removed by moderator]
  • January 27 2010
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not always... they just don't find value or don't want to pay a commission to a Realtor.. but some of them are the most expensive homes you can find..
  • January 25 2010
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Profile picture for larry.davis4
This is a great place to start.Thing about trying to find motivated seller,this should be your aim.The key is find :

Finding Motivated Sellers & Negotiating Creative Deals

  • January 25 2010
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Profile picture for smartinvestor1
You need to line up buyers with cash and what type of property and price range are they looking to buy and then you can talk to motivated sellers if they are willing to sell the house at a much lower price and do you home work and make sure its a good deal , and if its really a good deal you can sell it to your cash buyers for an assignment fee. You definately dont need help from realtors, good luck
  • January 25 2010
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Profile picture for Mark LeMenager
Actually I'm seeing that wholesalers in my area, get a real estate license and market their properties on the MLS.  The fact that you want to wholesale has little to do with going FSBO or represented.  If you've got the marketing and sales know how, then sure, do it yourself.
  • January 23 2010
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The term FSBO (for sale by owner) is truly a misnomer.  What they are is "unrepresented sellers".  Take the analogy of going into court "unrepresented".  Most sane people would not take that risk; in fact the government usually intervenes to prevent it.  

 So why would any reasonable person risk being unrepresented in what is one of the most serious transactions you undertake?  "If it can go wrong, it will go wrong..."  
  • January 20 2010
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Guess we all feel the same about Wholesalers -  if it were the answer we'd all be doing it, who has a better pulse and understanding of the market than all those realtors who like stock brokers in the hay day were just order takers.  My like in the past when interest rates were at 18% and than in 189-1992 for the cream to rise to the top, and weed out the rest.
  • October 03 2009
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Profile picture for mrfnuts
It is questions like this that make me wish HGTV did not exist.

  • September 29 2009
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Do you have ANY experience in wholesaling or selling homes or have you been watching too much cable teevee?

To answer your question, yes FSBO's is one way to go. Unfortunately alot of homeowners think their darling little house is worth way more than the rest of the planet. So unless you are dang sure you know what you are doing, I would find another hobby.
  • September 29 2009
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