PODCAST Filed in Fix and Flip, General by admin on February 15, 2017 • 0 Comments Submit K.F. (Jack) Griffin says: Pricing Mark Ferguson May 11, 2017 As you grow in your Real Estate investing career, you will always want a constant portfolio of different types of transactions going on at the same time.  Some investors focus on one particular strategy and make a lot of money.  However, I would rather have the knowledge to take any deal that came my way and turn it into cash. The Zandbergen Report Featuring Rick Cirelli28:20 Hi Tiffany – thanks! Glad you found it helpful. The closing process can be a little intimidating your first time through, but if you’re working with a good title company or closing attorney, they should be able to make it pretty seamless for you. Trackbacks But remember, buying and holding real estate is a long-term strategy. Let’s look at things around the 5th year. Russ, I agree wholeheartedly. I believe in investing primarily for cashflow and making equity when you buy. Appreciation is the icing on the cake. TIP: Don’t take advantage of a buyer’s plight and buy a home at an unfair price. It will damage your business reputation in the community. So how is reverse wholesaling different? For more specific information on finding preforeclosure properties in your area email me at ferrari2020nf@gmail.com From the reading I have done here, it is my understanding that if you are not a real estate agent or haven’t bought the property you cannot market or sell what you do not own. By doing this you are setting yourself up to get fined. Tyler, TX (1) Trademarks You’re amazing, i heard a lot about wholesaling but, I nobody shared to me the king of details. How can I be your student? How do real estate brokerages make money? search SEARCH July 7, 2017 at 8:43 pm Again, cash buyers are looking for deals. If you can show them that you are a serious wholesaler who will make them money, it’s the world’s easiest sell. Let me tell you how to find the right broker by sharing a little story. We bought our current home in the 90s (not via short sale). At the time I was using a broker who was really a nice man…but a horrible broker. This was at a time when real estate was really hot and it was tough to find a home we wanted to buy. And my broker wasn’t doing anything to help us. I was the one who found about new homes being offered and I had to prod him to get off the couch to learn more. You have the permission to re-print this article, as long as you don’t make any changes and include the bio. “I am cancelling your account on my cell phone plan.  Here is enough money to get your own plan started, and the rest is up to you.” Mark Ferguson is a highly successful, active flipper, having flipped over 100 homes and is currently flipping multiple homes in today's hot market. The concept of real estate wholesaling is that the middleman who is the wholesaler does not invest his/her money in the property. They merely buy the contract under a contingency plan to give them the chance to back out of the deal in case they can’t find a buyer before the closing date of the property. For example, a wholesaler buys a contract of a property for $40,000 with estimated repair costs at $5,000. Expected price of the property after repairs is $60,000, so if he sells the property for $45,000 then the wholesaler has made $5,000 in profit in a matter of days only without investing anything. October 18, 2017 at 7:49 am Choosing the Right Investment Brokerage Guide 4% View Results August 26, 2016 at 3:49 pm Lifestyles Unlimited Inc. Answered Jul 8 2015 · Author has 520 answers and 7.2m answer views other than in Las Vegas? And can I venture out of Nevada to other states and cities for contract If you ask me wholesaling is the last thing a beginner should do. I don’t know any good wholesalers who haven’t been around the block a couple of times, either doing flips or having their own portfolio. Wholesaling is probably one of the most difficult things to do in real estate. November 2017 Recent 3M ago43:06 As I stated, there is much more that goes into putting a Lease Option transaction together, but that is basically how it works.  There are several positives and negatives to this type of transaction.  Let’s take a minute to look at a few.  First, let’s look at the positives.  You have acquired a property with no money, and made money from your tenant buyer with their Non-Refundable deposit, as well as their monthly payment (You should always make money on the monthly spread between your buyer and seller. Thanks, Bob • Through lease option assignment. You can do this by lease optioning a house from a seller, then assigning the lease option contract to another buyer for a fee. If the deal doesn’t go through or for some reason doesn’t close, you don’t get any of your projected profit, but you don’t own a home you have to go into overdrive to sell either. Ally Invest TradeKing Review Conduct a double escrow… in which the new buyer would assume the note you have in place with the Seller. Have that conversation with the Seller upfront and be sure to include an assumption clause in your note with the Seller. Caption 8 Biggest Mistakes Real Estate Agents Make (Free eBook) Your Real Estate Investment Plan In a Nutshell Feedback Ep. 14: Detroit’s Ruin and Renaissance with Jeremy Burgess45:58 Handpicked Pros program does not need to be challenging. Which means you are far more likely to follow it, Year three to one million dollars with rental properties Do we need a real estate lawyer for buying a house? Another often overlooked way to find distressed properties it by searching probate court documents for recently inherited properties. You can look at divorce court records and public tax records to identify past due homeowners too. Once you compile a recent list you can send them flyers or letters including your contact information and mention that you buy properties in any condition. It is also important to mention you pay cash. 3d ago16:29 Home Selling Tips PROFESSIONAL TOOLS Look for ugly ducklings in upscale neighborhoods where the market has picked up. Before buying a property, research recent sale prices for nearby homes to get an idea of what you can make, and find out how long the homes were on the market. Successful flippers usually sell their properties in 30 to 60 days, says Letitia Patterson, a real estate agent who has invested in properties in the Detroit area. The longer your property sits on the market, the lower your profits will be. Homebuyer Guides check Lead Generating Site (Basic) I cannot say enough about how valuable and helpful this book has been for me in starting my Real Estate business. I would also recommend Than's site for additional tips!! Than is an amazing person with what he has built and the help he provides to those out there trying to get into the business. This is a great way to build capital for you biz!! Scott Costello says: Funding Your Reverse Wholesale Deals When they ask how much are you making 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! Ask your broker what she specializes in. If she tells you that she is in expert in the short sale department (they all think they are) ask her: Wholesalers get out there, find distressed homes and distressed sellers, they lock up the deals, and then they market them to everyone else. Lifestyles Unlimited League City, TX (1) Maintenance hassles: Clogged toilets. Broken garage doors. Rodents. The fix-it list can be endless, and many rental property owners are tasked with handyman duties, as well as collecting rents (and don't underestimate the challenge of finding and keeping quality tenants). If you're not cut out for all that work, you can hire a property manager, but it comes at a cost, approximately 6% to 12% of the monthly rent payment. Inside Sales / Real Estate However, the truth is there are many, many ways to make money in real estate without needing to “play plumber.” Today I want to talk about them. Ideally you want to have a list of buyers ready to go that you have met and networked with. You’ll contact your buyers and let them know about the property hoping one will spark interest in purchasing it. Then you would add $5,000 to the $70,000 and request a purchase price of $75,000 from them. Have a stipulation in your contract that states the buyer will need to buy with cash within 5 days. After the fixer agrees to purchase, then you go to the final and most important step. wholesale real estate 2015|real estate yard signs wholesale wholesale real estate 2015|real techniques wholesale wholesale real estate 2015|successful real estate wholesalers
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