Benefits from Wholesaling Real Estate
Wholesaling real estate is a great vehicle for the person looking to get a career started in the world of real estate. You don’t need any experience to get started just drive and determination.
Wholesaling real estate allows you to get your foot in the door with very little risk. Some of the methods I teach you don’t have to purchase and sell these properties with your own money.
This is how the process works:
Step 1 – You make an offer on a distressed property the owner of that property agrees to your offer and you put it in writing.
Step 2 – You assign your equitable interest you now have in that property for a fee via the contract that was signed between yourself and the motivated seller in step one to another real estate investor who has a end goal of purchasing the property to rehab to sell on the retail market or rehab the house and rent it out for an equity and monthly cash flow position. The benefit is you can generate large sums of cash generally quickly and you never have to worry about paying a monthly mortgage payment, property taxes, property insurance, deal with tenants, fix leaky toilets, or manage contractors!
No Money or Credit Required
Now having money and decent credit can propel you to success faster if you have the right tools, resources and someone to teach and guide you on how to leverage them both. However the only money required when wholesaling real estate deals is the earnest money deposit that can be as little as one dollar. A monetary consideration must be given to make the deal legally binding.
There is no credit score required when wholesaling a piece of property. You will never have your credit checked, because when you’re wholesaling houses you don’t need to borrow money from the bank. This is a perfect way to start investing in real estate with bad credit… once you start cashing in those big checks from your wholesale deals you can start paying off those creditors that were chasing you down every month at the same time building your credit score and cash reserve back up.
You Get Paid Fast
When people start investing in real estate, they often don’t have time to properly manage their real estate investing businesses. Our company has rehabbed over 65 houses during my real estate investing career waiting sometimes six to twelve months for a check. Wholesaling doesn’t require any of this, in fact the average time it takes to get to a check is 14 to 60 days tops, once you have built a healthy and active cash buyers list it will be just a matter of matching a property up with a buyer on your list. How’s that sound? Easy Right. Real Estate Wholesalers are the cream of the crop. We’re a group of winners making quick cash with no liabilities and headaches.
Financial Gain
Of course, one of the biggest advantages of wholesaling properties is the financial gain. Just doing one wholesale deal per month could add anywhere from 1,000 – $10,000+ dollars extra to your current income. Think about what you can use this income for to reduce debt, help out a family member, give to charity, start another business, save for retirement and leave a legacy behind. Think about it for a minute. When I was working in corporate America I would hear and see my co-workers getting excited about a five to eight thousand dollar a year pay raise. This can easily be obtained wholesaling real estate on a part-time basis each and every month.
Wholesaling is a very easy way to make money in real estate, heck make money period, but the simplicity often convinces people that it’s too good to be true and for the folks that believe that to bad for them but great for us! You and I can continue to help our communities and profit at the same time. Fortunately, now that you know why you need to wholesale real estate, you’ll be able to build a huge financial fortress, while others are wondering if wholesaling real estate really works. The best way to get started is to TAKE ACTION!
I”ll see you at the closing table,
Marcel Umphery the “R.E.I. Successmaker”