COACHING AND BOOKS March 27, 2015 at 8:12 pm There was a property that had some pretty interesting things going wrong, and I really didn’t want to deal with it anymore. I wish I could give you more of an iron-clad guarantee before you buy – but that’s best I can do. 1) You can inform your buyer that you need to extend the close of escrow. You can get it extended to about the time the buyer will be able to be approved for the loan. Then close the transaction. I did a transaction that had a close of escrow date a year in the future. This will not work in many situations but if the seller is not in an extreme hurry this can be done. Home Buying Tips Roshard Shorter on April 9, 2015 at 4:56 am In general, wholesaling is dependent on the ignorance of the original owner (don’t know the property market value) or the ignorance of the investor (don’t know the property market value, repair cost or arv). The wholesaler exploits this ignorance. In other words, the wholesaler takes advantage of the original owner or investor. Since wholesaling is built upon taking advantage of another party, moral character is not a high priority for wholesalers. If you don’t already have one, build a buyers list FIRST – as you find the active investors in your area, find out what they’re looking for and their criteria (beds, baths, sq ft, what repairs they’re comfortable with, buy price, and ROI) . . . then go look for it! Real estate investing for beginners and expert alike with NO FLUFF! I teach Entrepreneurship and real estate investing without getting into DEBT! Discover fixing and flipping houses, buying homes wholesale, Creative financing like subject to, wrap, master lease, all the way down to cold calling, marketing, sales, negotiating (and More…a Whole Lot More) Who or what is a real estate wholesaler? Anybody who sells real estate to a real estate retailer is a real estate wholesaler. How to Create Long-Term Wealth as a Landlord (Part 2) Assume your name is Jack Smith and you have signed a contract to purchase a property located at 123 Main St in Fort Lauderdale Florida. Your purchase price on your contract is $80,000 but you would like to make a quick $5,000 profit and sell the rights to purchase this property by assigning the contract to another buyer for a fee of $5,000. Let’s say that you are successful in locating a buyer for this property and that this buyer is willing to purchase the property for $85,000 which is $5,000 more than what your purchase contract states. 3 Experts Reveal IRA Secrets Twitter Question… How do you show the property to the end buyer before closing? Doesn’t the end buyer want to go in the house and inspect it before signing a contract? How do you manage this? But that, you may say, just delays the question.  What does it mean to “engage in real estate brokerage”? Julian Maldonado on February 7, 2017 2:01 pm Unable to add item to List. Please try again. Bookstore Hi Rose – to find your end buyer, you would most likely look in all the same places you would normally look if you owned the property and were selling it for sale by owner… the only difference is, you’re just assigning the contract to that end buyer (rather than selling it on your own behalf). SOLD! How To Write Real Estate Ads That Sell Properties Fast December 28, 2013 Passive Income M.D. Great article. Thanks for it The Atlanta real estate investment market has changed in the last couple of years, a lot like other investment property and real estate markets all around the county, and it’s not as easy to find great wholesale properties around Atlanta as it once was. Top 10 Real Estate Markets In 2016 But wouldn’t you rather have a business that people can trust? Don’t you think that long term if people know you follow through with what you say, that you’ll get more repeat buyers and sellers? I’ve been financing real estate for years for entrepreneurs, looking forward to doing it myself soon. I’ll agree with RadCrowd, it is an excellent inflation hedge. My first job was in a college town, I met many grey haired real estate investors who went through the 70s. As with any other business you need to plan your work and work your plan. For starters, there are many ways to make money with real estate. Marcus enjoyed your article. Your responses to questions were with patience and pure honesty. Thank you!Looked forward to reading more of your postings. Hi Toi, April 16, 2018 7 Joe Orta on February 7, 2018 7:50 pm The trick with wholesaling is having a list of buyers ready to buy before you get a house under contract. If it is a good enough deal and your buyers are real they will buy it. We don’t buy a piece of real estate unless the rental income is greater than the monthly expenses by a decent margin. For example, when your tenant pays you $1,000 a month and your monthly expenses including principal, interest, taxes, insurance, and maintenance/occupancy reserve are $800 a month; the $200 difference is now income in your pocket. Print Sean Tamman on August 1, 2015 1:45 am That’s a great point Renee! It’s amazing how versatile these deals can be. Maybe I can write a separate post on how to do those types of transactions (once I can figure out how to explain the process well enough). 🙂 Kiplinger's Latest Online Broker Rankings Danny Johnson on November 17, 2014 at 8:55 am Entrepreneur Like You Key Takeaways who was the seventeenth century designer A low profile organization will never ask one Tax Deed Hi Marcus, Maine Companion, works at Maine Companion Follow Us Any meet up in eastside or Seattle that you will attend? 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