I always am looking for comformation of the principles that we teach. This outside article conferms that Wholesaling is used by more people than us.
Killer Real Estate Investing Tips For Newbies
Start wholesaling houses. If you’re a newbie in the world of investing, you can try flipping houses. Also known as wholesaling, this trade is getting earnings from the sale of contracts. Before you freak out and procrastinate on where you’ll get the funding for it, you better learn what the requirements of this business are. And to relieve your worries, a huge start-up capital is not one of the requirements.
You can make thousands of dollars in this trade without investing as much. That’s because you only deal with contracts. As a house flipper, you sell contracts to purchase properties. You do not have to own the house before you sell it so you do not need to seek financing for it. Whoever said investing in real estate requires a massive capital surely forgot consider wholesaling houses.
In this method of investing, all you’ll need is convincing skills. Many house flippers are able to convince home owners to place their properties under contract for a very small amount, sometimes even for free. A lot of home owners agree to sign contracts and accept earnest money deposits as little as $10. These are the home owners you must look for and negotiate with. They are better known in the real estate investing world as motivated sellers.
What is advantage of dealing with motivated sellers? These are people who are desperate to sell their house, for various reasons. Some of them could no longer pay mortgage, other need to relocate to other areas. When a seller is in these situations, his main concern is to dispose of the property fast. You will be in a good position to dictate the price of the property in this case.
Here’s another killer tip when investing in real estate through flipping houses: Create your own buyers list. This literally is a list of possible buyers of properties in your area of operation. Get the names and contact details of other wholesalers, rehabbers, and investors in your county. If you found a property you can flip, you can easily sell it if you have a list of ready buyers in hand. Real estate investing doesn’t have to be difficult for newbie’s. Simply educate yourself with necessary information and start making better investing decisions.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125