So is wholesaling this easy?

[Christian Martinez]

http://youtu.be/gsxvM_KWnnM This guy makes it seem so simple, but is it really?

[Doug Minton]

NO! He didn't mention hoding costs, or contignecies. Do yourself a favor and buy the book FLIP. It is a Gary Keller book and shows you how to esitmate repairs and holding cost, and contigencies, etc....

Learn how to be a rehabber, then you will understand how to become a wholesaler. Keep in  mind that you need to find deals, and that means marketing dollars. Sure, you can work craigslist, but learning how to do direct mail, door knocking, and SEO, if you have a website, are key, simple and cost money and time. 

Then you need to know how to negotiate the deal.Not everybody is going to want to sell you their property at at discount no matter what their situation is, because of one simple factor....PRIDE! 

You have to know how to use the art of pursuation to show why they need to sell you their property at a discount.

Also, some buyers do not want to do an assignment, and you may not want that as well. There are different methods to closing on a deal. 1. Assignment 2. Back to back closing 3. Selling the LLC that you bought the property under. NOTE: The LLC must be created before you can purchase the property.

Bottom line is that wholesaling can work, and there is more information you should consider before doing a wholesale deal. If you find the right deal, then you will find a buyer, so a buyers list is not so important. Just become a member of your local REIA's and network, and find your buyers. Yes, ask them their criteria and make sure it's realistic. I have met buyers that have unrealistic goals and as my mom said, "they don't have a pot to pee in."

However, if you learn how to estimate repairs, understand holding costs, and do realistic marketing, you can be very successful. So, learn how to be a rehabber first, so you know and understand what a rehabber really needs, and if you can't wholesale the deal, at least you can rehab it yourself for a profit. Learn how to market, and learn how to negotiate.

As Flavor Flav said, "Don't belive the HYPE!" Lastly, find a wholesaler, and rehabber, who is successful in your area and network with them, and partner up with them until you can become established yourself.