Hi Juliet, Nice to hear about other Johannesburg people active on Bigger Pockets. I’ve been here a while mainly listening to the podcasts, and preparing my strategy. Have already got a 16 unit property but looking for more. What part of JHB are you in ? looking to meet up with other investors to share info. I haven’t figured out how wholesaling works in SA yet ! Good luck, see you around. Tricks to Raising Commercial Property Value: Part II Disclaimer Other possessions you could offer to swap include motor homes, campers, boats, cars, large appliances, valuable artwork and furniture.[4] Digital Edition This can present a serious headache if not expressed in the contract; we inform sellers all personal artifacts must be removed from the property prior to closing. One of the worse situations a wholesaler can be in is to have a property close and the seller still have personal property in it. In some states depending upon the law this can present occupancy challenges. As a wholesaler you want to provide your end buyer and property that is vacant unless otherwise agreed upon. A wholesaler needs to find great deals and thus needs to work harder to find those deals. And if you want to get what no one else will get, you have to be willing to do what no one else will do: Hustle. • Renting smaller units, one of the most convenient ways to make money Paris says: It’s a math problem. Math doesn’t care about experience. If the deal is good for an investor he/she won’t care if it was delivered by a professional circus clown, unless said investor fits into the “box of rocks” category you mentioned. My question is before I jump in and start making offers , what should I have more knowledge in first? What exactly should i read or study more of before going out there? How to Do Real Estate Investment Right Profiles Learn. Start. Repeat. Related: What is a Good Cash on Cash Return? I recently went to one of those “Get you started” workshops for a fee of $1,247.00 and you just gave me everthing they gave me, except the 1 million in transactional funding. And Letter of credit, if needed. - Quincy Edwards Joint Venture Agreements for Real Estate Investors – Co-Wholesaling, fix and flip, Rehabbers, and Cash Partners EDIT REA Step 5: Deliver Documentation to Title Company, Close, Get Paid Flip2Freedom Academy is an exclusive cutting edge, online coaching program that is affordable, interactive and is specifically designed to give you the tools and education to quit your job in 19 weeks or less. John Marion is a Real Estate Agent with REMAX Town & Country in Canton, GA What if the buyer went behind my back and talked to the Seller? It is similar to flipping, except that the time frame is much shorter and no repairs are made to the home. As the wholesaler never actually purchases a home, real estate wholesaling is much less risky than flipping, which can involve renovation costs and carrying costs. Real estate wholesaling also involves much less capital than flipping. Generally earnest money payments on a few properties is sufficient. Success depends on the wholesaler's knowledge of the market and connection to investors for quick sales. CUSTOMER SUPPORT Explosion Signs How can I start a real estate business? Paperback If your intent isn’t to purchase the property but you sign a purchase agreement. . . don’t you think that’s dishonest? Parenting Real Estate Investing Clubs 86.) For-Sale-By-Owner Selling – In today’s world of advanced technology, it is possible to sell a home without using a real estate agent. While I generally do not advocate this route, many investors have found success and significant cost savings by selling the home themselves. Great read! Very easy to understand the process and tons of advice in the book and on the website www.smartlazyinvestor.com. Although this doesn't take away from what seems like very helpful info can't help but wonder why the "masked" face, why the different stories about the author's background. In the book he says he was raised by a single father who worked in a factory. On the website he writes he is from a "great middle income family and parents still together after 40 years. His father worked 50+hr/wk as a sales manager in the car business. Come on! keep the story straight :) FUNDING / REAL ESTATE Copyright Infringement Marcus Maloney on September 22, 2016 10:38 am Fantastic article thank you for posting it. What are your thoughts on transactional funding until enough working capital is built up to use ones own funds? Curt Smith says: Real estate can be a lucrative option, but you need to make informed decisions and take consistent action. Use the action guides linked above to fast track your real estate investment education, but remember to do your research based on your own unique financial situation to reach your maximum potential in real estate investing. How fast can they close? Hey Fred- I just noticed this comment, so sorry it took so long to respond! That sure is an interesting property type! Did you end up pursuing!? You’re welcome Brian – and best of luck as you’re getting started! You can do it! Answered Oct 17 2016 · Author has 4.3k answers and 6.7m answer views for the Web Amazon Business Looking at the differences from fixing and flipping homes, here are some of the reasons you might consider reverse wholesaling to be the superior strategy… See all 112 reviews Real Estate Books April 22, 2013 Parcel Number Tying it all together Discounted Wholesale Properties For Sale In Atlanta Georgia My question is relating to the Option to Buy the property outlined in this article. I assume that I may have to get a lawyer to handle a separate type of document than what a Realtor is allowed to use regarding this option. However, am I legally allowed to enter into these types of arrangements (Option to Buy) as a licensed Realtor? Also, seems with this option having a licenses and access to Realtor perks could assist in selling the property agreed upon in an Option to Buy. My only question is do I have the legal right to perform this type of transaction as a licensed agent and would I be able to list the house on MLS listings or any other types of services to assist in selling it? on Thu Feb 7 2013, 4:30PM VIEW I am planning on getting into the wholesale business as well. I am looking for someone that is doing the same in my area. I live in PA and just really want to pick someone’s brain who is already doing it. Thanks !! You don’t want to waste your time looking at houses where there is no chance of making a deal that will work as a wholesale. Typically, your end buyer will want to buy at no more than 70% of the fixed-up, resale value of the houes. You need to buy at that price LESS what you want to make for a wholesale fee. So, if you want to make $8,000 on the wholesale, the house will be worth $100,000 fixed-up, and cost $10,000 to fix it up, you will need to buy it for no more than $52,000. Good luck! Who doesn't need a cash flow? I think you must choose a property where rent gives you a huge amount of holding costs. Real Estate is unpredictable where certain property products offer brilliant cash flow. This is a kind of extra money which you can get it through rent. This extra money you can use in other areas of your life. Sean Tamman says: How To Wholesale Properties (Smart Lazy Investor Real Estate Investing Books Book 1) Kindle Edition The first answer to the question how to get rich in real estate is for those who are not looking forward to becoming landlords by renting out their income properties for an indefinite period of time. Instead, it is for those more dynamic individuals interested in short-term investments and who like to buy a property, fix it, and then flip it – i.e., resell it for a price higher than the price they purchased it for. The trick is to identify a property which requires only minimal – and cheap – fixes to maximize its value. 1pm – 2pm (Making Offers) Specific Performance in Texas Real Estate Transactions Side Gigs Our Real Estate Tools are your ONE-STOP Shop for all your Real Estate Needs Wholesale real estate is really just the same as any other wholesale product. To provide a comprehensive depiction of wholesale real estate, one must consider and define all of the other components of the supply chain. Private Coaching With Lex In Court 040: Skip Tracing in Real Estate32:48 Real Estate News | Real Estate Investing | Stock Market Investing | Passive Income | Flipping | 1031 Exchange | Private Lending | Cash Flow Not Helpful 8 Helpful 22 Sean Tamman says: Which is a better investment idea? Real estate investment vs stock market November 26, 2016 at 10:28 am How do you find these Motivated sellers?? where do you find them? Zip * The most important real estate wholesale contract is the assignment contract because it states the assignment of ownership rights of the property to someone else without actually passing the ownership of the property from the seller to the wholesaler. When working on a wholesale contract, it is important that all the essential parts of an assignment contract are present.  The seller and the buyer can also add their own stipulations and terms to the contract, but these are the most necessary components to ensure completeness of the details of the contract. Why Real Estate Agents Should Form Their Own LLC Retire When You Want So you mostly do assignments? Do your buyers have an issue with your assignment fee ever? > Home Renovation DIRECT LENDERS This is a three bedroom, two bath house, and this was the secondary home of a couple that lived out of state. The husband was sick and the wife decided that she wanted to sell because they didn’t want to use the property anymore. She had her daughter who was locally here in Arizona contact me. The daughter informed me that the house was owned free and clear but there was a real motivation there because the father was sick - and that’s what I’m looking for. $48,000 a year If you are just getting started wholesaling, one of the best strategies is to find one great cash buyer, have them tell you what they are looking for, and find them a deal. We put in the purchase agreement, Buyer: ABC LLC and/or assigns, so everything is transparent or on our addendums in private sales stating we have the right to assign the contract. So no, I do not think this is dishonest. I guess we will have to disagree on this one. 6. Invest in Non-Performing Notes margaret smith on March 3, 2016 3:08 pm 4 Comments Thanks Richard! Great suggestion! I’ve also heard of that position, and definitely would be a great foundation for getting into real estate investing. Thanks for the tip and leaving a comment! 78 Looking to fund your next fix and flip project? Balloons Insights WHY IS REVERSE WHOLESALING BETTER THAN FLIPPING HOMES 050: Gunnar Lovelace - Thrive Market and Starting a “For Purpose” Company36:28 Published on December 19, 2014 When you invest in residential real estate, you are getting more than a home or a piece of land upon which to build a home. Real estate investment has become a popular way for people to make money, and it is not uncommon to buy a house or land without any intention of living there. Some people simply buy and hold property, waiting for it to appreciate in value before re-selling it. Having cash for a down payment is the quick and easy way to enter the real estate market, but it's not your only option. Many people have found ways to start investing in real estate with little or no money of their own. Options include borrowing money as well as a number of more unusual and creative paths to ownership. First, people must stop equating “Assigning the Contract” as everything wholesaling. Assigning is a useful tool, but only one of several ways to wholesale a property. I understand people’s attraction, as it’s always promoted as a way to “invest” with little or no money, and make a nice chunk of change doing it. 17 Surprising Benefits of Amazon Prime 2 star 19:20 February 24, 2018 by Jamie Richardson Advertising / 30 Days Property Sold wholesale real estate risks|how much do real estate wholesalers make wholesale real estate risks|wholesale real estate salary wholesale real estate risks|best wholesale deals
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