Realty411 Magazine A Spotlight on Charles and Lena Sells | Page 38
Real Estate Investing
With No Money Or Credit
By Laura Alamery
S
o, you want to be your own boss and
do not want to put a lot of startup
capital into your venture. You have
been researching which business
options might be best for you and
keep reading about real estate
wholesaling and other strategies that
allow you to make a profit in real estate investing
without putting any money down or having credit checks
performed.
It is not too good to be true! There are a number of
different directions that real estate can take, and the no
money, no credit path has many options.
● Wholesaling
● Cowholesaling
● Subject To Sales
● Seller Financing
● Transactional
MANY
OPTIONS
Excelling in each of these areas requires the proper
knowledge, as well as the people skills necessary to grow
your real estate investing business. Regardless of the real
estate direction that is chosen, building solid connections
with others in your community will grow your business
faster than any other sales or marketing campaigns that
exist.
What is Wholesaling?
Let’s start with the most important players involved in
a real estate transaction. The seller, the buyer, and the
person who facilitates the sale. Most commonly, the
facilitator is a real estate agent. They list the property for
the seller, or scout available properties for the buyer, and
they most definitely need to be licensed by the state the
transaction is taking place.
Real estate wholesalers act similarly, to an extent. Like
agents, wholesalers are always on the lookout for sellers.
Unlike agents, most wholesalers are looking for properties
that are selling at a very serious discount, in order to resell
it at a higher price and make a sizeable profit.
Wholesaling requires dedication and the people skills to
build a comprehensive database of both sellers and buyers.
And is a common niche for new (and veteran) real estate
investors. The wholesaler finds the contract and either
assigns the contract to a buyer at a higher price or has a
double closing, meaning the wholesaler technically buys
the property but then immediately resells it the same day.
CoWholesaling
Connecting with other wholesalers can expand both
your customer list and your bank account. If you have a
buyer looking for a specific property, a fellow wholesaler
may have the perfect place. Generally, the wholesale fee is
split between the two and both can profit from the sale.
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