May 2014 (3) By Harriet Edleson By Harriet Edleson February 21 in order. You can have an explanation and evidence then another Making money out of any real estate transaction is the fun part, but before the investor gets to the fun part, they have to get through the serious stuff first. One of the trickiest parts of ensuring that the wholesale deal is a success is by making sure that the contract is in order. Coaching/Mentoring Add New Watchlist January 2016 Fix it up and pretty it up. Then put it back on the market at close to “retail” price. Let’s say $20,000. But you put it up for sale with “seller financing.” Say, “Only $5,000 down and $x per month.” (I don’t have my calculator with me, but something in the range of $299-$399 a month will work.) So now you get a buyer with $5,000 down. Your total investment in the home is perhaps $8,000. You’ve just received $5,000 from the new buyer. So your net investment really is $3,000. And you’re selling it for $20,000. Your return on your $3,000 investment should approach (and often will exceed) 100% per year. That’s going to give you a nice, solid cash flow. If you want your money even quicker, you’ve got the note from the buyer for (in this case) $15,000. The note has a stated return (the amount you’re charging the buyer) of perhaps 12%-15%. Wait 6 months for the note to season, then sell the note at a slight discount. There are plenty of people out there who’d love to buy a seasoned note yielding 18%-20%. Helpful FLIP ARV CALCULATOR Don’t fall for the hype that you need to build a cash buyer’s list. This is just a distraction from your actual job: find a great deal. Carrington Mortgage Services, LLC - 182 reviews - Plano, TX   +1 location Thought Leader Thursday v Special Training: Click here to check out my Wholesaling Houses Training Course: Freedom By Flipping. This is a 6-week Online Course that spells out everything in an insane amount of detail! November 23, 2015 at 10:04 am Lee W. Chen I’ve mentioned in other articles that in my nine years as a real estate investor, I have never assigned a contract. Well, that was true until a week ago, and boy, I will never make that mistake again! 4. Real Estate Investment Trusts (REITs) Invest In A Bigger Real Estate Deal October 20, 2014 at 4:39 pm I advise most people to avoid listed properties altogether. Once a property hits the MLS, especially REOs (also called Foreclosures), everyone knows about it and its hard to get a great deal. Plus, agents block any creative financing techniques. There are just as many motivated sellers per capita in Missoula as there are anywhere else. But you have to know how to target these people before the deal gets on the MLS. 21 Mon Flipping Junkie Based on 11,782 salaries Andrew Ziebro on January 30, 2018 7:16 am When it comes to the deposit, I usually ask for anywhere from $1,000 (for the cheaper deals of $10,000 and below) to $3,000 (for anything $30,000 and up). For anything in between, I'll ask for approximately 10% of the total purchase price. Brooks Conkle on April 18, 2013 at 3:54 pm Now, I don’t recommend screwing it up. You might as well do it right as long as you’re getting in the business. That way you won’t ruin your taste for the most powerful wealth-building tool available to the average person. Bob says Lots of great info in this article. well thought out! An inverted yield curve is the interest rate environment in which long-term debt ... merrill business investors investor learn informative starting helpful process follow understanding knowledge close useful comprehensive state builders program tips wholesale Million Dollar Postcard Templates That Work What do you have to do to make a career out of wholesaling? The Basics Of Building A Wholesale Buyers List Investment Property: 7204 N Amos Ave, Tampa, FL 33614 Mobile Apps The White Coat Investor | December 25, 2017 at 2:30 pm MST So even if you’re not a complete wholesaling expert — and born with legal mind — make sure to dot your I’s and cross your T’s to ensure this complicated, though powerful, form of investing doesn’t leave you in the dark. Chicago, IL (38) Barbra Menendez on December 24, 2015 7:29 pm David R. Groscup LEARN HOW I INCREASED MY NET WORTH BY $600,000 IN THREE YEARS WITH RENTAL PROPERTIES WITH THIS FREE REPORT. Mona Nix on March 17, 2016 11:39 am View the performance of your stock and option holdings Contact W. Casey Gray at wcgray@andrewsdavis.com or (405) 235-8731.  Is buying land the best way to invest in Real Estate in India? Real Estate Investing in Dayton, Ohio If a property needs extensive work, get several estimates from contractors you trust. Don’t forget to factor in the expenses you’ll incur while you’re holding the property, along with closing costs. Justin Pierce, a real estate investor who flips properties in the Washington, D.C., suburbs, says he starts by estimating the sale price of a fixed-up home. Once he comes up with that number, he subtracts buying and selling costs (typically 10% to 15%), a profit margin of 15% to 20%, and the cost of repairs. With those numbers in hand, he can determine how much he will offer. Next 866-945-6565 The key is to be open to many different kinds of marketing, and be willing to experiment with your lead-gathering strategies. At the same time it’s crucial you be hyper-vigilant about “checking your numbers” to ensure your lead-generation dollars bear wholesaling fruit. Banking 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? THE WHOLESALERS TOOLBOX Once you find a buyer and negotiate a price, the buyer pays you to sign over the contract to him/her. You use an Assignment of Contract for Purchase and Sale to make this happen. Once this form is signed, the buyer simply steps into your shoes; all the rights you negotiated in the original contract become his/her rights. To ensure the seller can't back out of the deal with the new buyer, be sure the original contract says, "This contract may be sold or assigned." Office Address Jeffrey Gibbs on May 10, 2018 8:39 pm Are You Ready To Make Wholesale Real Estate Deals? 19.) Hybrid Fix-N-Hold for Single Family Homes – One of my personal favorites, this incorporates finding the good deal and remodeling the home from the fix-and-flip but the long term benefits of the buy-n-hold. Simply, a single family home is purchased for a low price during a low market, remodeled to force appreciation, and held until the market improves and sold. This method seeks to maximize the ROI while limiting the risk. Even for an every day investor or wholesaler, making a great income can be achieved by practicing some very established and proven strategies. Check out the following 4 real estate investing strategies you can put to use with no money, or credit! Profit from a lump sum on a refinance. So you bought your $100,000 place, and put $10,000 worth of improvements, that the tenants paid back with rents. The property is now worth $125,000 because your contractor did a great job, you can refinance to get the $25,000 cash and put 25% down on your next $100,000 rental! 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