How To Get Started With Wholesaling
Hi I am a newbie and found out recently that wholesaling is a good way to raise up capital needed for real estate business. I do plan on going into rentals and leases later on, but for now I need to find out what it takes to get involved in full force with wholesaling.
I need experienced investors in this field to give me help on pointers on how to get myself started.
Hello,
The best way to get started is to have an entrance and exit plan. Offer/Option to buy single family homes at 70% of ARV. ARV SHOULD include repairs, legal fees, a small profit for yourself. Call on some licensed contractors and get a certified appraisal for the ARV.
Run some ads in your local paper reading "Handy Man Special" ...... Find you a good lawyer to draft your paperwork.[ Edited by theregisterfiles on Date 11/08/2006 ]
Thank you very much for your reply, I see that you are a seasoned investor and you have been doing this probably for quite sometime. Please can you work me through a situation you have had in the past? From how you do you marketing to the closing process. I will appreciate it if you can answer my questions
owen
from my limited knowledge of wholesaling - the KEY element is making sure you have enough equity and potential for increased monetary benefits for the actual assignee who will purchase the property.
we bought from a wholesaler and the biggest, greatest attraction was "knowing" that we were buying something that would return 100% of original investment.
u as the assignor must then be good at marketing and SELLING.
u are the rainmaker - not the property.
u make it happen.
Thanks for your reply. Does anybody know a good wholesaling manual or book?