Buy and sell mobile/manufactured homes. This is like rehabbing, but with a few different profit centers. First, you buy with cash, getting a substantial discount off the asking price. (The secret is that most mobile home buyers want to finance the purchase, but can’t. This reduces the number of actual, available purchasers.) Drive through a mobile home park. You’ll see signs in the windows offering to sell for $25,000, $30,000, or whatever. (Can be a bit lower; might be substantially higher. New, really nice manufactured homes sell for $100,000-$125,000.) Do a bit of research on values, though it doesn’t take too much. Offer about 35% of the asking price, all cash. Yes, it’ll take you maybe $6,000-$10,000. You’ll get people to say “yes.”
Novice here! Thanks for the amazing instructions. Just one question. 3M ago40:44
Quite the opposite…. the contract was at one price but the end buyer will buy for another price…how would you go about getting the seller to terminate the first contract and aggree to the one
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Junior S on June 9, 2013 at 9:09 pm I do have a question for you Brandon. As you – and I – live in Washington, is it a requirement to get a broker license in WA before doing a wholesale deal? I have talked to other investors in the state and they have given “Yes” and “No”. I thought perhaps you, or anyone else in the state that knows this, might know the proper procedure.
y Sooner House Buyers August 8, 2017 If your real estate investor business includes wholesaling, assignments, and double closes, you need to know how you will be impacted by Texas Senate Bill 2212 after September 1, 2017.
All this because I believe that God is the source of ALL Knowledge and Wisdom. And He directs me in the path I should go.
Sign In Signs + Registries Kessia Khadine on October 21, 2017 8:36 pm Monitor the closing process to make sure it is done correctly and on time.
For Commercial Pros I know this is a lot to digest as a real estate wholesaler, but I maintain that all the information you gather at this point will prove invaluable when it comes time to move forward with a deal. Take your time at this stage and be sure to ask the right questions. Otherwise, you may find yourself spending far too much time analyzing deals that aren’t even worth pursuing, or worse, making offers on properties that aren’t worth your time.
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Steve G. on March 27, 2017 11:26 pm Seller must furnish lease agreement to the buyer within 24 hours
The first is acquiring a property using a “Lease with an Option to Buy.” This is where you lease a property from a seller for a set amount of money each month, with the exclusive right to purchase the property within a certain time frame. There is no closing at the onset of this transaction, simply a contract stating the agreement.
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The large majority of states use the “for another” language in their state licensing statutes. The “for another” language means the law provides a laundry list of activities that require a license if you do it “for another.”
“The best benefit of fix and flips is the fact that investors do not have to deal with becoming a landlord, or dealing with property managers and tenant nightmares,” Merrill says. Even after you have gone through the arduous process of finding reliable tenants, it’s possible they may damage the property or skip out on rent payments. “Tenant issues tend to eat up a lot of time and money and cause unnecessary stress,” he notes.
The Ohio code then goes on to list all types of activity, such as buying, selling, offerings, leasing, negotiating, etc. This type of statute would clearly exempt you from doing any of the listed activity so long as you were doing it on your own behalf. The following court case clearly delineates the difference between acting on your own behalf and acting as a broker.
The double close is where the buyer wire in the funds for the B to C (you and the buyer) transaction and then the title company or attorney (depending on your state) will then use those funds to close the A to B transaction (you and the seller), and you keep the spread. In some states and some title companies will not do double closings. If that is the case then you can seek transitional funding.
156 views What It’s All About Begin this step by determining how much you can get the property for. Then find out how much the property is worth by talking to agents, looking at comparable properties, or even obtaining an appraisal (if you’re not comfortable with the first two yet).
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Table of Contents I find what you are saying to be quite incorrect. You are blaming your lack of process and ability to transact a deal on a contractual method of closing the deal out. I have done hundreds of assignments over the past 18 months. I have made hundreds of thousands of dollars doing them. If you can do them right they are an excellent tool, albeit not the end all be all but they do work.
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Dr. Housing Bubble Joey Arellano on June 24, 2017 10:33 am What happens if the property isn’t sold by the time you and the seller negotiated? What will happen then? What are the ways around that?
Power of Sale Notice How do I find a network of potential buyers investor’s Brandon Beale on February 21, 2016 12:17 pm
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Insurance Agents Irving, TX 75038 Hey Frederick. Thanks for commenting! Are you referring to renting out rooms in a big house? I didn’t think of that one but actually – my first way of making money in real estate was doing this in college. I rented an apartment and then ended up renting out each room to different guys. I liked the money so much I ended up moving onto the couch in the living room and renting my room out so I would make more! It is a great way to learn how to deal with deadbeat tenants! One of mine still owes me money!
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Although there are many complex factors that go into a successful and profitable real estate investment, the basics of making money through real estate investment can be summed up in three different categories.
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It’s often said “You make your money when you buy.” There are many different strategies you can use to ensure profitability when you buy, starting with finding the best deals. The following is a list of many of the top places to find good deals and make money when you buy.
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$75,000 a year Clever Proof Coffee Collection Instead of overly concentrating new money into one very expensive property, I’m now going to surgically deploy capital into multiple types of investments with potentially greater returns, less hassle, and more liquidity across the country.
Planning This Blogger’s Books and Other Items from… Thomas Guertin on February 1, 2015 9:04 pm check Unlock Sellers’s Contact Info (3/Day)info
Financial Modeling This option is probably the most affordable because you only need to buy a single share of stock–$50 for example–and your 401k plan might offer a REIT fund option too.
Good book very knowledgeable easy to start applying! Recommend for anyone who wants to start wholesaling houses. Good to start with.
ms koko on March 19, 2014 at 1:27 pm How do I get in the apprentice program
January 24, 2017 at 4:41 pm Kindle Customer Great Profit Margins Tell us what contracts, forms or checklists you think would be helpful to real estate wholesalers and we’ll add them to the list
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