Wholesaling Real Estate

Wholesaling Real Estate Guide for Beginners

By: Samuel Gobar

Narrated by: William Bahl

Length: 1 hr and 46 mins

Publisher's summary

If you've heard of flipping houses, but having given it a try because you lack the funds and skills, then real estate wholesaling might be a perfect start to begin your career as an investor. Why? Wholesaling doesn't require a huge amount of money for start-up fees, and you won't have to worry about making repairs. With our guide to wholesaling, you learn how to purchase and assign property in a matter of weeks, and leave the renovation worries to other investors. Wholesaling real estate is a quicker way to earn your fees, and it not near so nail-biting an experience. The risks associated with wholesaling are minimal because you aren't purchasing the home, you're only procuring the property to pass it to another investor who takes on the risks. Listen our guide and learn how to drive sellers and buyers to respond to your marketing. You'll be able to negotiate with the confidence of knowing that your learned communications skills and proven strategies will enable you to build your business successfully. You'll feel the reward of helping homeowners climb out from under the heavy burdens of a home they can no longer maintain or afford. Some of the strategies and skills you'll be learning within these pages are:

• How to market for the highest profits and greatest number of responses
• How to accurately analyze the market for accurate pricing and the most profits
• When and how to work the wholesale process
• What are the most common mistakes and how to avoid them
• How to compete with other investors and "Hunt with the Big Dogs"
• The importance of treating your business like a business

©2017 Samuel Gobar (P)2017 Samuel Gobar

Solid Foundation on Flipping Properties

Be honest with the owners. Don’t try to sugarcoat the appearance or condition of their home. Talk to them about the fact that they obviously know their home is going to need some work, but don’t forget to talk to them about a few things you like as well. When you see that they are relaxing and hear them responding more openly to your questions, ask them what their plans are when they sell their home. Knowing their plans is imperative because this will let you know one of two things: their dreams or nightmares.

If they say they want to buy a boat and travel the coastline, then you’re going to enable them to follow their dreams. If they say they are going to have to live with their parents when they no longer own the house, then that’s a problem. They have no money to pay for the repairs on the house, and the longer they stay, the more they postpone their future. So, you're going to help them dump the house and begin saving for a better tomorrow. Whatever the owners' response is, either their dream or nightmare, you need to be the solution.

Now you want to ask them the second most important question. "SO, WHAT HAS BEEN HOLDING YOU BACK?" Asking this question will help you get to the reasoning behind their problem. It could be that they tried to sell their home, but they couldn't sell it for the price they were asking. Instead of dropping the price, they gave up. It could be that what has held them back was that they had listed the house in the past, but the traditional buyer couldn't get past the mess. You have the solution for that, right? Whatever they say has been holding them back, you be the solution to helping them.

Incredibly helpful for the new real estate invest

Tell them a story here and there about your family and pets, and just talk to the owners as if they were your friends. Don’t make it all about business, be friendly and smile. They are already stressed enough to bring a stranger into their home in the condition it’s in, so put them at ease with casual conversation. If possible, sit down around the kitchen table to discuss the deal. Kitchen tables are a friendly, family location, and you’ll know they trust you when they let you sit down at the table. If they offer anything, accept it. That’s what friends do, right?

Informative , clever, useful

Real estate investing, whether you're buying residential or commercial property, is not a get-rich-quick scenario. You can make some fast cash flipping houses, if that's your thing, but that is a full time business activity, not a passive, long term investment. The word "investment" implies that you are committed to the activity for the long haul. Often, that's just what it takes to make money in real estate.

Overall great content, especially for $6.95

Contact the owners and see if they could use your services. Even if the property has a while to go before the lease option has matured, many investors are willing to purchase property held by another as a lease option.

Step-by-step guide to wholesaling!

You’ll find educational blogs and Podcasts on Bigger Pockets to keep you informed about the latest market trends, innovative investing strategies, and information that will help you to build a profitable business. Bigger Pockets is a community of people who are looking for a wholesalers’ services, and they are all at your fingertips. Of course, like you, other wholesalers visit the site as well, so your marketing materials must be spot on, and your personality needs to be engaging. Browse the site, but before participating in a forum discussion, be ready to speak intelligently and knowledgeably about your skills and offerings.

Business Entities Simplified!

Wholesaling real estate requires consistent and targeted marketing efforts, and the more creative you are, the more money you'll be able to save and still attract business. Remember, wholesaling is all about relationships, about making contacts with people who have problems in need of the solutions you offer. The more you can convince them that you have the best option, the better you will distinguish yourself in your marketing materials and strategies.

Insider Tips worth hundreds alone!

In the US alone, population levels have grown from 180MM in the late '50s to 330MM+ today. And so, the highly competitive pricing increments in real estate have been reflected in the population growth over time. The $20K home of the '50s is now worth $500K or more. That's a 25x increment in value over time.

Gobar takes readers through the dynamics of building a personal financial statement in order to prepare prospective investors for the all important thrust into the world of investing in real estate. Real estate investment isn't just property accumulation. It's also investments in REITS, tax liens and other avenues of making passive income in real estate without the headaches of owning a property.

Overall, the thrust of this Gobar's book is good for the beginning investor in real estate. There are pitfalls in real estate investment like gaining good, knowing the property downsides, the neighborhood quality of life issues and much more.

Read again material

This is a very good book educative on how to become a millionaire through real estate investing when you are still on daytime job.

Laid out how simple wholesaling can be

First, find all the homes that have sold within a half-mile to a mile radius that has the same or similar features as your property. It is always better if you can find ones to compare that were built by the same builder, the same year, and the same model. However, when the house is older, finding these types of comparisons is not always possible. Today's markets are so volatile that comps won't be very useful if they are much older than three to four months—six months at the very most. Hopefully, you can find four or five homes that are similar and located within the designated area.

A must BUY! Even if you don’t think you need it!

You’ll learn how to compose an offer that will give you maximum profits while creating the best chance of seller acceptance. There is a talent in negotiating an offer that makes everybody walk away satisfied. Although the sellers had to compromise, they still got some of what they wanted. That's the beauty of wholesaling real estate in finding that middle ground that everyone can accept and still feel as though they benefited in the exchange.