Introduction
Wholesaling is one of the most lucrative ways to get started in real estate and here ’ s why : Most of what an individual needs to get started is organic ; little money is required , finding buyers is relatively easy , and the knowledge is readily available in the right real estate circles . The basic knowledge to successfully wholesale is having knowledge of the market and knowing the ARV ( after repair value ), repair cost , and right purchase price . The next step is to build a reputable buyers list , so here is the fastest and most reliable methods to find qualified buyers immediately :
1 . Auctions : By attending auctions you can find a great number of buyers to add to your list .
Let ’ s understand that wholesaling is different than actually buying a property . You in essence are purchasing and selling the rights to a contract and not a property . You purchase the property writing the contract representing you are a buyer and you have the right to assign the contract to another buyer . During a short contingency period you immediately contact your buyers . It usually takes one to three days to assign a contract with a
Hot Tip : Learn how to market to these types of buyers . Sometimes it ’ s just running a simple Craigslist ad , but the most effective method is building your list and emailing them as soon as you secure a contract . ( Gary ’ s wholesalers actually call him directly .)
good buyers ' list , so let ’ s concentrate now on building a good qualified buyers ' list !
Types of Buyers
For a wholesaler , or any seller , there are altogether four types of buyers , as follows :
1 . Fix & Flip (“ Rehabbers ”) will pay the lowest amount for your contract
2 . Buy and Hold ( Landlords ) will pay more than rehabbers
3 . “ Retail ” ( Homebuyers ) will pay the most for your contract
4 . Other Wholesalers , and Co Wholesalers ( by agreement )
2 . Real Estate Investor meetings : Rehabbers hang out at these meetings so come early and stay late to network .
3 . Craigslist ( a goldmine ): Download Gary ’ s free book on this website https :// reifortunes . com How to Make $ 10,000 a Month on Craigslist
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