I've been interested in real estate for a long time, but more recently I've been doing my research and trying to learn as much as I can while I'm young. I've researched different ways to get money to start investing, and I've come across the idea of wholesaling? What exactly is wholesaling? I've looked it up on multiple different websites, but I don't really understand it. And, is wholesaling as hard as some people make it? I've seen very mixed reviews. Some think it's easy, some say otherwise ...
TONS of stuff right here about it......you'll find it. Download the BP free ebook "Ultimate beginners guide to REI"
Simple but not easy. The wholesaling process involves coming to an agreement to purchase a property for a specific price (getting a property under contract). You then sell that contract for a fee or do a double close, typically to an investor who is looking to improve the property and either rent it out or resell for a profit.
For example: a seller agrees to sell me their property for $100k and I make arrangements to resell the property for $110k. All fixed up maybe the property is worth $185k so I'm buying low and selling low.
You should study and understand at least assignment of contract and then double closings (dry & wet) and then maybe transactional funding.
The cornerstone of the wholesaling business is marketing for motivated sellers, sellers who for one reason or another are willing to sell at a discount. We offer a service that allows a seller to sell their property quickly and avoid the typical hassles associated with a traditional transaction.
Dry and wet closings? That's a new term to me. What is that? I haven't come across that on BP. Thanks!
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