How To Be Successful In Real Estate Investing As A Wholesaler

By Author: Simon Macharia
Total Articles: 7
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Flipping houses (also known as wholesaling houses) is the quickest business model to make profits in real estate investing. It is also the business model that needs little to no money capital.

- You can get your check in as little as two to three weeks. - Even though the profits are lower that other real estate investing business models, you can make earn some good money flipping houses. - You can make an average of $5000 to $10000 per deal, with very little effort and work. - Is possible to do 3 to 5 wholesale deals part time each month.

- Generally, you have to identify great deals at below market value and buyers with cash, usually other real estate investors.

- I never rehab my wholesale houses, I leave this to the real estate investor buyer.

- To be successful in wholesale real estate investing, here are a few tips to follow.

1) Buy at a price range comfortable to you
You can find most rehab deals in the medium price range. - In my area, this is around $150,000 or lower. - Some lenders demand you stay within a certain price range before they can lend their money. - By going too ...
... low, you could end up buying in the wrong neighborhoods. - Going too high can mean few potential buyers to sell to. Speed and high frequency are a must for successful wholesale real estate investing.

2) Avoid poor neighborhoods
- Most real estate investors target nice fairly-priced neighborhoods. - Lower prices are always attractive, but ability to rent out the houses they buy is important to most real estate investors. It is therefore necessary to target good neighborhoods for successful wholesale real estate investing.

3) Accurately estimate market value and rehab estimates fast
Repair estimates are a mandatory part of wholesale real estate investing. - Most need repairs, and you must take this into consideration when making your offer. - I buy my houses for wholesale real estate below 65% of fair market value less repair costs. A lower offer leaves more money on the table when I flip to other real estate investors.

4) Make educated offers that get accepted and leave a profit
- Making an offer is a crucial part of real estate investing, probably the most important. When wholesaling houses, you must allow a profit for the wholesale real estate investor and for you.

Certainly, as long as you know the estimated rehab costs and the after repair value after it is renovated, you will be able to make an offer that both gets accepted and leaves enough cash on the table for both you and the wholesale real estate investor you flip the house to.

5) - Identify rehabbers with cash, mainly other real estate investors
- Once you have a contract to buy, you must get a wholesale buyer with cash who will fix it and sell, or rent it out. - It is necessary to verify the source of money before wholesaling your houses. - Hard cash in the bank or line of credit is always preferable. - This way, you avoid lending red tape and sell your houses fast.

- Most importantly, I must get a reasonable non-refundable earnest money before I flip my houses.

6) Close your deals quickly
- As long as you have a cleared source of cash, you can close your deals in 2 to 3 weeks. - Speed and volume will then be easy, making you more profits.

For more information ..... Wholesaling houses | flipping houses