Media This was great reading, thanks. I’ve got a lot more reading to do…just getting started. However, one question – you noted above that one of the ways to avoid breaking any laws was to get your license. Did you mean a brokers license or real estate license? I was planning on going for my RE license, but want to clarify your comment. It’s in your best interest to find out what the seller’s bottom-line price is before you make an offer. That said, I’ve saved the best for last: What is the least amount of money the seller is willing to accept? In addition to learning their lowest price point, ask the following: 11/May/18 - 11:06 pm Entertainment and Sports Law 2. It was never easy to predict when a property would sell. First Name * b ​✔​ Vacant Properties with Out of State Owners First, I’ve been one of those “cash buyers” you describe. Both for long term rentals and flips. A couple questions: 12 Likes Your buyer MUST have the ability to pay all-cash (because most mortgage lenders aren't willing to deal with the minor complexities of an assigned contract). Two Closings: 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. Get Funding From Private Money Lenders I’m still working full time (hence, current goal to replace my 9 to 5 ASAP so I can focus and dedicate more time). Any advise for someone in my boat? How do I meet (or talk) with sellers, cash buyers, etc. if I’m in the office early AM and am out and in traffic early evenings? While you may be bombarded with images of expensive real estate investment seminars, that is not a requirement to be successful in real estate investing. You can learn the basics from useful free guides online to get a jump start on the basics. There are plenty of real estate books, podcasts, and free information online as a good place to start. You can also speak with other real estate investors. However, in your article you stated that if you’re just getting started the best strategy is to find one great cash buyer, have them tell me their criteria and then focus on doing my REAL job, which is finding them a great deal. No registration fee BTW, I did a guest post this week about my real estate crowdfunding experience on http://www.genyfinanceguy.com See search results for this author David Saba May 9, 2017 $15.55 REAL ESTATE WHOLESALING FOR BEGINNERS Your Account LATEST FOREX NEWS Find a way to buy your first one. Go to some real estate meetups and look for private money. Go to a small, local bank for a loan. Our advice to tap your 401(k) was controversial but that doesn’t mean it’s not a good decision for some people. Andrew has done it and Clayton and Natali have done it. Magnets Danny Johnson on May 23, 2014 at 9:53 am 9:18 August 19, 2017 Here is how the state of Florida defines a broker: Browse Stocks March 15, 2017 at 6:45 pm 5. Wholesaling Real Estate Properties 3.Invest in Short Term Rentals Read More » Ad feedback I'll be completely honest – at the time of this writing, I still don't consider myself an “expert” in wholesaling (because I've only been through the process a handful of times myself). On the same coin, I can say that I've been through enough wholesale deals to know that this process works. But if you structure an entire business on it, obviously your intent isn’t to actually purchase the property and could be considered illegal. Published 4 months ago April 26, 2014 at 2:22 am Sponsored by Quicken Loans - Save Job Will This Effect Double Close Transactions? Brandon, this is great info for us out of state (actually out of country) investors. Having done what you call a guru’s course, you’re right, they do tell you to start off with wholesaling and to build your buyers’ list. Trying to build the list from a distance, while still learning the process, is hard work, but I do love trying to find the deals. That’s where networking comes in and I’m trying to build up my relationships so I can make this whole real estate investing thing work – and Bigger Pockets is one of the best resources I’ve found so far! Error: Twitter did not respond. Please wait a few minutes and refresh this page. 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. * Determine Repair Costs: $25,000 2. How a Realtor can succeed as a real estate wholesaler. AEZ The Premier Real Estate Investing Learning System Howard Roll on July 7, 2014 11:07 pm Travis Sliger July 9, 2016 Technology Solutions You could have them agree to the new price, change it on the original contract with them and have them initial the change. > 5 Reasons Why You Should Sell Your Vacant House Now MOST POPULAR GUIDES With this in mind – I usually try to work with sellers who don’t have a realtor in the mix… I’ve just found there to be a better success rate that way. Many thanks. Mouse Pads Pamela Satcher on July 8, 2016 7:16 am October 31, 2015 at 12:45 pm Welcome to episode 21 of the Sick Biz Buzz Podcast! In this episode, George Beatty shares his surprising reason addiction took hold and how he kicked it to dominate Philly's wholesale real estate market. Learn how you can turn your addictive tendencies into positivities in your entrepreneurship. Get the full show notes and other valuable resour ...… Follow Scott Yancey on Twitter: www.twitter.com/Scott_Yancey January 22, 2017 47.) Direct Mail – This old school method of finding leads still works today. Sending out a massive amount of letter, especially to your defined target market, is a great way to get calls and weed through deals. Do you want to earn cash now or quick cash, or you try to earn cash flow overtime and build long term well? 8.) Large Commercial Office Space – Buying large commercial buildings and renting out office space to business professionals. 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