My name is Dined pronounced(DEE-NA-OH)im situated in South Africa , i discovered the site while i was goggling ways of investing in property without money and must say that it has been of great help . i have been reading the ultimate guide to real estate investing, and Chapter 3 focus of different real estate investments and how you make money from them.
although the book states that there a number of ways of real estate investment i was just wondering as to how does one go into student accommodations? what ways can you invest in them and is it advisable to go into them , what are the cons of student accommodations? .
Second question here is , about the wholesaling properties . is this the same as property sourcing ?
I'm not sure how different it is investing in S. Africa vs. here in the states, but student accommodations probably refers to purchasing real estate in college and university areas. I think the pros are high demand and low vacancies, but the cons are that you have high turnover and risk party animals who might trash the house! You can mitigate that risk by having a strict screening process and eliminating those who you think will not take care of the property.
As for wholesaling - you basically have to be a master marketer to make it profitable. You need to be able to find great deals (that aren't listed publicly), then get them under contract and sell them to an investor or other buyer at a higher price. The difference in price is basically your "finders fee." It works by making the offer, getting it accepted, then assigning the contract to another buyer at a higher price. You shouldn't have to actually purchase the property, you're just assigning the contract.
I hope that helps! Best of luck
Thank you so much for response i appreciate it please help me with the below question as well .
as advised by Brandon before staring read a lot of books , which i am, im currently reading the ultimate guide to real estate investing .
I'm not sure if reading correctly or not understanding wholesaling at all . i understand the contract part and so forth i just want to know if you assign the contract then who really owns the property ?. i also read that you don't need any money or maybe little money to go into it , here is my problem ,when you go looking for properties below market value these properties already have owners right ?so the property belongs to someone and i approach them and ask to sell that the property for them ,i then get the buyer and they buy the property and i get paid the fee .
Who pays the fee ? the seller or the buyer?.
Please help me understand here is this much like being a real estate agent?.
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