CHAPTER 5 A Quick Guide for Wholesaling or Wholesaling
For those curious about wholesaling, I've dedicated this chapter to you. Wholesaling involves an investor putting a contract on a property for below market value then finding a buyer to buy the contract for a higher price and/or a fee. Another option is for the wholesaler to buy the property outright then quickly sell it. The wholesaler uses a purchase and sale agreement (also known as a purchase contract , sale contract , or agreement of sale ),which states the purchase price and terms of purchase. Wholesaling can often be one of the faster ways to make money in real estate (sometimes it takes just a few hours!), which is why some investors center their business on this strategy (although many still include other types of real estate investments as well). In order to be successful, you need to learn how to find the great deals before the general public knows about them, which is where a professional like me can be helpful. Real estate agents and brokers can search the MLS for properties although most investors that purchase wholesales would rather purchase an off- market property. I consider myself a wholesale expert. I've personally used wholesaling as a stepping stone to gather funds to purchase other real estate investments and I've made hundreds of thousands of dollars doing so. Many wholesalers make a living out of the process. Experts in wholesaling can also help you throughout the process, which varies from a typical real estate transaction. Of course, this process won’t work if you don’t have the buyers, so 35
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