Best Way to Save for Retirement Danny Johnson on April 17, 2013 at 8:11 pm Hope I answered you question, if not keep asking or message me personally > Find a REMAX Real Estate Agent
I found this article very helpful. I’ve read numerous articles and none have been this clear in regards to breaking down the wholesale process. You’ve answered so many of m questions. Thanks Brandon!
Updated Nov 4 2015 · Author has 55 answers and 50.2k answer views How do you market a property you have under contract with no real estate license? I heard this was supposed to be the “cloud” on the title and if I do happen to “file” it and the closing process starts in the title company, how does it get extinguished (the affidavit and memorandum)?
There’s a lot more benefits with our premium memberships but for now.. this is for you. You are exactly right when doing a double closing everything will be confidential, however you have to pay 2 sets of closing cost. We normally only double close transactions that are over 10k unless we have done numerous deals with the buyer. Even then we may still double close so the seller does not know the fee we are making on the transaction.
People will always need a place to live. Plain and simple. You can charge people rent in exchange for allowing them to use the property or facility. The location of the property is important.
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In other news… (c) Devoting over 50% of one’s working time, or more than 15 hours per week in any 6-month period, to the sale of real estate.
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I will do a double close if I feel there will be an issue (usually when making $15k-$20k or more) or I am going with a buyer that I haven’t worked with before. Brandon Turner on September 3, 2012 9:23 am
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Related: I Used to Write Off Wholesaling: Here’s What Changed My Mind Tweet92 Paris says:
Is it possible to wholesale properties from the MLS? John Dew on August 28, 2015 12:15 am Q3. In STEP 4 “Find your buyer and assign the contract assignment” You stated that, “Having the buyer furnish an nonrefundable earnest money deposit secures your position in making a profit.” My Question- is this earnest money given to me right away “into my hands” by the buyer or is this earnest money given to the title company/ closing attorney?
No Credit Involved And No Cash Required: If your low credit score or limited access to capital is what has been keeping you from investing in real estate, wholesaling is the route you need to take. Even with bad credit, you can participate in a wholesale agreement because you aren’t actually the person purchasing the home. Your eventual buyer is the one who will have the go through the credit check. Another advantage of wholesaling is that you can put as little as $10 down on the property when putting it under contract, which mitigates the personal risk if the deal falls through.
Great! Sign up for our newsletter to learn more ways to make extra money: 8.) Large Commercial Office Space – Buying large commercial buildings and renting out office space to business professionals. Usually professionally managed by large property managers.
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Learn. Start. Repeat. The Right Way to Wholesale? Thanks Brandon…Love the podcast The advantages to renting a portion of your house is that you get to watch your tenant closely. It’s less likely that a tenant will try to stiff you for the rent payment when you’re in the same household. Renting a portion of your house also gives you the ability to get a feel for what it’s like to be a landlord without making such a huge monetary investment.
Bill Cotter says: That is clear, thank you. I just thought the end buyer would assume I’m asking for additional funds on top of what I would expect for an assignment fee and decline the deposit…assuming I’m being greedy… but yes, I get it. It is clear… One more question if you don’t mind… What is your opinion on; Is it important to establish a business name (for website and business card) and business logo and get it protected before starting wholesaling as a beginner?
Before I get started, let me say I am only going to give an extremely basic explanation of these ideas. I could easily write a book on each one alone, but here are the bare bones to investing with no money or credit. I also have another great read on the best short term investments out there, so check that out as well!
Again, there’s no magic to the documents I use. You can easily call up your local attorney and I’m sure they’d be happy to charge you $600/hour to give you a similar set of documents and instructions.
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If there is one thing I’m most thankful to my mentors for, it’s that they helped me really figure out what would really identify as THE BEST STRATEGY in all of real estate. They couldn’t answer which one is the ultimate best. However, they made me realize that I CAN CREATE A CUSTOM FORMULA for myself.
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There’s few, if any, reported cases of people being prosecuted anywhere in the country for not having a real estate license. The issue of licensing is more relevant to the enforcement of your profit. For example, if you assign your contract prior to closing and expect the buyer to pay you at closing, he may stiff you and argue “you don’t have a license”.
+ How to Make Money Buying Virtual Real Estate C) in “bread and butter” neighborhoods, Updated Nov 4 2015 · Author has 55 answers and 50.2k answer views
Once you find a deal, you need to understand how to sell it to make your profit. Here are four ways you can structure your wholesale properties. $6.99
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Sorry, I misread the question. No, I am only buying one Owner Occupied home a year. Dave Brown
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The Higher Earner vs. The Smart Investor: Who’s Better Off Financially? [A Case Study!] Books have been written on this subject and this article is meant to be a brief overview. Hopefully, you can see that owning rental property, when held for the long term, can be a very profitable and low risk investment strategy.
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Cody Sperber • TPF Instagram Invest In Real Estate – Q&A #2 Another way to earn money as a real estate agent is to manage the properties for homeowners and investors. This job includes managing, maintaining and repairing the properties, finding renters, collecting rent and keeping a close eye on accounting. The owner of the property will pay you a percentage of the rents collected on monthly basis. Most of the property managers get 10 percent of the collected rent. The property managers earn money also as leasing fees.
How To Get Started It’s crazy! Available Properties Principle 5.0 out of 5 starsAmazing Brandon Turner on September 6, 2012 4:09 pm
Complete Series Oh Katie gotcha completely understood, thanks for the clarity
Buyer A: the wholesaler, aka, the mediator Erick on October 14, 2015 9:58 am
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What are you and other wholesalers you know doing to find buyers? Please leave a comment. 30.) Cash Purchase, Sell on Contract – If you have the cash, you can buy properties and then immediately re-sell them to buyers who may not be able to conventionally qualify for a mortgage. You can carry the mortgage for as long as you’d like, or sell the note for cash in the future. Make sure to collect a large down payment when using this method.
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