So how do you explain to friends and family what you are doing when it comes to wholesaling? A few times I have started out by saying " you know those we buy houses" signs and gone from there about how real estate wholesaling basically works. Is there a better way that wont get the almost always first question of "Is this legal?".
Its not too much different than being a real estate agent to be honest, your just dealing with off the market properties and don't make a commission but instead make a margin on how attractive the deal is to the end buyer.
Really what you are doing is providing a service to people who need to sell their house quickly (or are simply very motivated to sell for some reason) and connecting them to buyers who are looking for undervalued houses and can close on these properties when the seller needs them to.
I think back on what I used to tell people a few years back when they asked
1. Logging timber in the pristine forests of Oregon
2. I was a home developer in Oregon taking farm land and creating housing
3. I was a court house steps foreclosure buyer.
So you can see those are all real popular occupations to those that might have a bent towards being green and or protecting the unfortunate folks that are losing their homes.
I simply say I buy and sell houses. They usually respond with "oh you're an agent?" Then I usually break it down a little bit more and end it with a "let me know if you are someone you know needs to sell there house fast for cash!
Buying and selling houses for profit is adequate.Most people can understand that simplicity.
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