etc.), so it doesn’t have to come out of your pocket. Also, if you use the "Buyer pays all closing costs" method, you won't have to incur those costs.
You can make money pretty quickly.
Of all the real estate investment options, wholesaling helps you turn a profit the fastest overall — usually in three to six weeks for residential properties, some transactions can happen even faster! My wholesale contracts are typically 30 days, cash only, 10-day inspection period, no financing contingencies, buyer pays all closing costs and under $100 in escrow. Of course, things could take a little longer in the beginning, but as you solidify your processes for finding and evaluating deals, marketing, and understanding the ins and outs of these types of transactions, the process will speed up.
You can get into wholesaling even if you have bad credit.
Since you don’t need to obtain bank financing, your credit score doesn’t matter as much. That said, your score does still matter to a degree, in that you won’t have as many exit-strategy options to close on the property, if necessary. But when you’re selling contracts, credit scores don’t really matter.
You get to be your own boss.
You make your decisions, set your schedule, and decide with whom you’d like to work. Of course, you’ll answer to your investors if you have any, but you’re the person in charge.
It’s less risky than other kinds of real estate investments.
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