Why is wholesale real estate the vehicle of choice for making quick money in real estate? There are so many reasons to consider wholesale as the absolute best way for new investors to make an absolute fortune in real estate!
The most compelling reasons are:
1.) Zero Risk
2.) The investor does not need money
3.) No rehabs or repairs or contractor nightmares to deal with
4.) NO TANNINS TO DESTROY YOUR PROPERTY AND YOUR HEALTH
5.) No real estate ownership (no taxes, no utility bills, no maintenance bill, etc.)
6.) You don’t need good credit
7.) You don’t need a job
8.) And there are several more… But you get the idea!
I started wholesale homes in 2001 and to date I have wholesaled over 450 homes, all within a 20 mile radius of my home. I consider myself an expert on the subject. I absolutely love this business and I can’t see myself wanting to do anything else for a living ever again!
Here is a quick overview of the wholesale system:
1.) Find a motivated seller who will sell at a deep discount
2.) Put your home under an assignable contract of sale between the two of you
3.) Find a motivated investor/buyer who wants to buy the house from the motivated seller
4.) Assign your contract of sale between you and the original motivated seller to your new investor/motivated buyer for a fee (assignment fee).
5.) Go to closed and collect your fee (assignment fee)
6.) Repeat often!
That is all! Anyone can easily learn this overly simplistic, but real chain of events! I COULD have completed the above deal with no money, no credit, even a job! The deal had no risk to speak of! I never took possession of the house, the interest passed from the original owner directly to my investor/buyer and circled me!
If the house needed repair, guess what! My investor/buyer will be the one to do the repair, not me! If the house is to be rented out to tenants, that burden is also the owners’ new baggage and not mine!
What I probably like the most is the fact that I didn’t need any of my own money to structure this deal! Now, you may need a small deposit to keep the house when you write the sales contract with the motivated seller. I usually put down a deposit of $100.00 or less (security deposit) to make the contract of sale legally binding, and that’s it! That’s all the money I’ll be working to put this deal on toggle! I have many times where we could only put a $1.00 down payment to secure a dirty deal! Motivated sellers are not looking for large deposits!
These are not conventional agreements, in which we are the end users of the real estate that we are contracting. We don’t go to the bank and try to get a mortgage on these houses. So we will need the traditional 10-20% initial deposits that conventional buyers need to deposit! The guy doing that in this sample deal is our investor/buyer! Does this start to make sense?
Look, I’ve done this over 450 times in 7 years! I have an exact science that I adhere to as well! I’ve built a “flipping/white machine” that keeps churning out deal after deal for me.
How much do these assignment fees pay? Well I average $7,500.00 per deal! NOW Let’s put this dollar amount per inch perspective: 1 deal per month @ $7,500.00 = 12 deals per year = $90,000.00 per year 2 deals per month @ 7,500.00 = 24 deals per year = $180,000.00 per year 3 deals per month @ 7,500.00 = 36 Per Year = $270,000.00 PER YEAR 4 DELOS PER MONTH @ 7,500.00 = 48 Offers per YEAR = $360,000.00 PER YEAR.
A professional wholesaler can easily do 50 to 75 in a year. Aside from Time Wholesaler, he can easily do 6 deals a year with no problem (1 deal every 2 months!) That’s still an extra $45,000.00 PER YEAR! What would that do for the lifestyle of the average American every year?
I don’t know of any other business that has zero risk involved in the learning curve period, that has the ability to get rid of this guy! Is incredible!
I finished high school with a “C” average and never got a college degree. So I’m just your average guy, with average intelligence. If I can do this, the best you can too! Some days I still can’t believe how profitable this business is! I personally know several other wholesalers in my market earning over $500,000.00 dollars per year full time wholesale houses! That’s more than most surgeons and the president of the United States make! Amazing, right!
Who must wholesale houses for a living? Well, ask yourself the following questions and see how fair it is:
* Am I the kind of person who likes to carve out my own path in life?
* Am I a leader and not a follower?
* Am I the type of person who likes a personal challenge?
* Do I usually finish with the start or do I give up when I hit the first hurdle?
* Can you imagine having and doing the best things that life has offered you?
* Do you want to withdraw before your head?
* Do you want more time to enjoy family, friends and life?
If you answered Yes to most of these questions, you are a strong candidate for the white real estate business model! If this is the first time you have heard of “wholesale real estate”, then you should learn more about how you can start using this investment system to change your Immodery financial outlook.
Wholesale real estate, wholesale real estate, wholesale real estate, say it over and over until it burns into your subconscious mind! It’s the lowest risk, fastest payout style of real estate investing any new investor could ask for!
Visit: Wholesalersmarts.com for more information on wholesale houses.
“Life is changing great!”