In order to get started in the real estate wholesaling business, you need to perform some research. You will need to locate real estate investor groups where you can gain advice. You will also need to invest time in finding distressed properties and motivated sellers. Lastly, you will need to get familiar with the wholesaling contracts.
5.8k Views · View Upvoters At this point you’ve done your homework, marketed for properties, got a property under contract, assigned it to the cash buyer, and… now what?
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Marcus Maloney on August 7, 2016 1:34 pm Accessibility Millennial Personal Finance and Investing Blog
I started to invest in real estate by investing in fix and flips. My father has been a Realtor since 1978 and he has done fix and flips since I was in high school. When I started in real estate in 2001, I loved fix and flips, but selling houses to strangers I did not love so much. I am naturally an introvert and fix and flips were perfect for me because I could focus on the house. I could find great deals, decide how to repair them and sell for a profit.
However, the few issues I had to deal with took time away from my family, work, running, blogging and guitar. I learned that unless I was going to work part time as a doc, I would never enjoy real estate. So maybe down the road, but until then I’ll stick with REITs in Roth. I get that they aren’t the same as direct ownership, but the name of my game isn’t most wealth, it’s wealth:life balance.
This site will become your hub for interacting with like minded people on the same quest for freedom. Hi Drake – I’ve used them in several, but I can’t speak for all 50. I think you’ll most likely be fine in most places, but you’d have to verify with a local legal pro to be 110% sure (you know, the standard legal disclaimer). 🙂
Steps to Becoming a Real Estate Investor What kind of deal are you selling? Real Advice From Real Experts
If I got my license and only wanted to do it to represent sellers that wanted full market value and to access the MLS, do I need to have a lot of money for advertising? Also, do I need to hang my license with a firm and how much does that generally cost? Are they upfront costs or a percentage of my commission after closing?
1. Research Now, here are my thoughts on how to go about it and no offense intended to anyone. Of course, as I mentioned in a previous post, using a 1031 exchange may allow you to defer taxes from any sale indefinitely.
How did you get your first real estate wholesale deal? Andrew, Don Montgomery on April 24, 2016 12:12 pm March 7, 2016 at 6:53 pm
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