Before we jump into the content for today\u2019s post, I just want to give you a little background on who I am so you can get a general feel for what I\u2019m about and ultimately what kind of content you can expect to come from me.<\/p>\n
I\u2019m from the Indianapolis area and I am married with three incredible children whom I always try to put before my business.\u00a0I have been a full-time real estate investor for 8 years and I specialize as a wholesaler, which is simply \u201cmatchmaking\u201d experienced investors with properties that turn a profit for them.<\/p>\n
I can\u2019t even begin to tell you how much I love what I do!\u00a0In essence, every day I make money simply helping other people make money.\u00a0It\u2019s so awesome, and it\u2019s ultimately what I want to do for you, the reader (though I won\u2019t be getting paid this time ’round)!<\/p>\n
My heart in becoming a contributor to the BiggerPockets blog is to simply give back.\u00a0I became successful in this business through a lot of trial and error, and if I can help other inspiring investors reach success with a lot less heartache and hassle than I had, then I\u2019ll feel like my goal has been reached.<\/p>\n
So with that, let\u2019s get into today\u2019s post!<\/p>\n
Like I said earlier, wholesaling is in essence \u201cmatchmaking\u201d investors with properties that those investors can either hold as income property or fix-and-flip for a profit.<\/p>\n
The wholesaler finds a steeply discounted property (meaning it\u2019s selling significantly under market value due typically to a distress situation, like a foreclosure, divorce, probate etc.), and they get it under contract and either assign the contract or sell the property to another investor for slightly more than what they purchased it for.<\/p>\n
For example, let\u2019s say I got an offer accepted on a property for $20,000, but I know a flipper could purchase this same property at $25,000 and still make a great return after they rehabbed it.<\/p>\n
Related:<\/strong> Day in the Life of a Wholesaler: How to Find Sellers, Negotiate Deals & Assign Contracts<\/a><\/em><\/p>\n So I go through with it and get it under contract for $20,000 and then assign the contract to an investor at $25,000, thus profiting the additional $5,000.<\/p>\n Make sense? Great!<\/p>\n In this type of investing, there are pretty much only two things you need to focus on in order to make it work. If you do these two things and you do them well, it\u2019s only a matter of time before success will be knocking at your door.<\/p>\n So obviously, in order to purchase a good deal, you actually need to find one!<\/p>\n But how do you do it exactly?<\/p>\nThe Only Two Principles You\u2019ll Ever Need to Know in Wholesaling<\/h2>\n
1. Find Deals to Buy<\/h3>\n