Can You Flip a House Legally?
Did you know that it is possible for anyone to make a massive amount of money in almost no time at all in the real estate investment arena? One of the quickest ways to do this can be wholesaling real estate. Wholesaling real estate is the implementation of a specialized knowledge of identifying a property or house that is distressed or being sold below the market value, controlling the property with a real estate sales contract and then transferring your equitable interest in the property to an investor cash buyer for a fee, thus making a profit. This is commonly referred to in the United States as flipping houses or wholesaling houses.
The real estate investing business in itself is one of the most profitable industries in the United States, and the flipping/wholesaling houses niche is one of the most profitable strategies in the real estate investing industry even in a down or declining market. This method is 100% recession and depression proof.
Wondering how to flip a house?
Those reality T.V. shows make it look so easy.
If you want to start wholesaling real estate, first look for a property that meets your investor cash buyers purchasing criteria and get a real estate purchase and sales agreement signed by a motivated seller that allows you to assign your equitable interest in that property to an end buyer that will close on your wholesale deal with cash. You don’t even have to make any repairs or updates to the property before settlement.
Think you can’t flip a house because you don’t have any money?
Having access to financial resources are not a requirement in the wholesaling real estate business since the entire deal can be structured with minimal or no money down. The main challenge you may face just starting out is finding a motivated seller that wants to get rid of their property, and this can be done several different ways. I started out placing ads in the classified section in my local newspaper here in Baltimore, MD.
Having a cash buyers list is the most important aspect in your real estate wholesaling business. Without having a end buyer in place to buy your future or current wholesale deals there will be no way for you to get paid. To make this easier, you should begin to make and build a list of real estate investors and other real estate professionals in your market place building your list over time, keeping details such as each real estate investor’s buying criteria and the amount of money they are willing to invest, types of property and the neighborhoods that interest them. This way, you can contact your buyer’s in the future when you come across a property that fits his or her buying criteria.
Wholesaling real estate can generate quick cash because it usually takes only 14 to 45 days to settle on a deal. Now is the best time to get your foot in the real estate door. Wholesaling is the easiest way to get your real estate career off the ground, one of the fastest ways to get cash in your pocket. If you have any investment knowledge or experience at all you already know the rule of thumb is to BUY low and SELL high. The entire United States of America is on SALE our country is experiencing one of the best real estate markets ever that’s creating unprecedented investment opportunities for people like you and I to take advantage of.
Want to make some quick cash? Maybe you should give wholesaling a try. Or in other words, CAN YOU FLIP A HOUSE? Yes You Can!
I”ll See you at the closing table,
Marcel Umphery the “R.E.I. Successmaker”