Private Money411 Magazine - The Source for Real Estate Finance Private Money411 Featuring Sarah Montes | Page 27

F
SALE
olks are always
telling me: “I
would love to
make money in real
estate, but I’m just to
broke.” And I respond
every time: “So was I.”
Back in the late ‘80s, I started reading books on
how to make money in real estate. Every time they
kept telling me you fi nd a good deal, then you go get
a loan and buy it, fi x it, sell it, or hold it.
That’s when I would say to myself: “Well it
sounded too good to be true.” Later I learned it is too
good to be true. I learned how to Wholesale Prop-
erties. I learned what I would say to be the greatest
technique in real estate.
How to buy a house without actually buying the
house. Now let me tell you how that works.
I compare it to when I would go garage selling
with my wife on the weekends. We would drive
around looking for SIGNS!
You know, garage sale signs. We would fi nd
a sale and then look for a deal. And we always
seemed to fi nd at least one deal, once we started
making off ers and negotiating. By the way, I have
Realty411Guide.com
WHO IS JIMMY V REED?
Jimmy V. Reed of Fort Worth, Texas has been investing in
real estate since 1987 and by 1991 started doing one day
trainings in Wholesaling. He then began teaching and
mentoring others through out the country. Jimmy also
created several training’s used in the past by Whitney,
Rich Dad, and others. He currently is the founder of
www.1REclub.com & was co-founder of the Fort Worth
club REIO-FW.com for 14 years. Now he trains students
through his company Real Estate Equity Development.
For more info, please visit: www.JimmyReed.net
taught thousands of students whose number one fear is to
make an off er. But the second you put them in a garage sale,
they start making off ers so low it was like kicking the seller
in the knee cap!
Anyway we would fi nally agree upon a price. And many
times realize we didn’t have enough money on us to pur-
chase the item. So we would ask the seller to hold it until we
came back with the money.
And... wahlah... Garage Sale Real Estate! I know you’re
thinking: “WHAT?” Well let me tell you the secret to this.
At the garage sale we would run to the ATM, get the money,
come back and pay. Now take this principal a little deeper as
we teach in our wholesale classes. Tell the seller to hold it,
how? A simple Purchase Contract.
That’s when you tie up the property until you have the
money. I know, I know, you’re broke! That’s ok because
while it is under contract, we contact other investors who are
looking for deals! That’s right, we are deal fi nders fi nding
deals for our customers. These investors have CASH!
Now we just assign the contract to them for a fee. And
now you just got Paid! Sometimes we even use a double
close to close on the property because the profi t margin is so
large. That one is a lot of fun.
Well hopefully by now you at least can see a glimpse as
to how so many investors can make money in real estate
without having money. Did you know when you go to a car
lot, or even Wal-Mart, the items you purchase from them
have most likely not even been paid for by them yet.
That’s right Wholesaling has been going on in most
business forever. Now the question is are you up for some
Garage Selling? Well it’s all up to you, but if you need a
little help look us up, we’ve been teaching Wholesale to
investors since 1991. v
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