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Side Hustle
: Wholesaling Real Estate
Wholesaling is the gateway to get into Real Estate by having little to no money $$ to get started
And how much can you make doing it?
Let me show you
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: Wholesaling Real EstateWholesaling is the gateway to get into Real Estate by having little to no money $$ to get started
And how much can you make doing it?
Let me show you
1/15
In wholesaling you are neither the end buyer nor the seller of a property. You are the middle man.
Think of yourself as a treasure hunter
Instead of searching for gold, you are searching for properties that can be purchased for CHEAP!
That’s one of my ads
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Think of yourself as a treasure hunter
Instead of searching for gold, you are searching for properties that can be purchased for CHEAP!
That’s one of my ads
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Where do you find these properties?
A motivated seller is a person who is behind on their mortgage, inherited a property they do not want, live out of state, can't manage the property anymore, etc
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A motivated seller is a person who is behind on their mortgage, inherited a property they do not want, live out of state, can't manage the property anymore, etc
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There is reason they don't want the property
That's where you come in
You contact these people and make an offer
"Hey, Mr. Seller. I can take this property off your hands. I will take it as is, pay in cash, and close quickly. How does that sound?"
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That's where you come in
You contact these people and make an offer
"Hey, Mr. Seller. I can take this property off your hands. I will take it as is, pay in cash, and close quickly. How does that sound?"
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For a truly motivated seller this is music to their ears
They won't have to mess with repairs or a long closing process, and really all they want is their money ASAP
Here's the kicker though, you are offering much less than more conventional buyers would
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They won't have to mess with repairs or a long closing process, and really all they want is their money ASAP
Here's the kicker though, you are offering much less than more conventional buyers would
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This is something you should be open about in conversations with the seller and whoever else you discuss business with.
"I buy properties at a discount from motivated sellers."
Getting these properties under contract at a discount is the key to the whole process.
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"I buy properties at a discount from motivated sellers."
Getting these properties under contract at a discount is the key to the whole process.
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Now, i am not going to go into all of the strategy behind this, but to make it easy let's say the motivated seller you found owns a house that would be worth $200K all fixed up.
However... there's holes in every wall, the roof is leaking, and the kitchen is from 1942.
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However... there's holes in every wall, the roof is leaking, and the kitchen is from 1942.
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The seller just wants this thing gone, so you say, "Mr. Seller, i will offer you $110K for the house."
Since the house needs SO much work and the seller just wants the money, he agrees.
Now, you may be saying, "I can't do this!! I dont have $110K?!?!"
BUT YOU CAN!
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Since the house needs SO much work and the seller just wants the money, he agrees.
Now, you may be saying, "I can't do this!! I dont have $110K?!?!"
BUT YOU CAN!
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All you pay is a small sum of money to hold the contract with the seller, often no more than $100.
Now this is where you make your money...
You turn around and find a real estate investor to assign the contract to.
Like someone who flips houses.
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Now this is where you make your money...
You turn around and find a real estate investor to assign the contract to.
Like someone who flips houses.
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The home flipper will be interested because if they fix the holes in the wall, the roof, and update the kitchen they know they can sell this house for $200K.
You publicize the property you have under contract to as many investors as possible.
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You publicize the property you have under contract to as many investors as possible.
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When you find an interested investor you offer to sell the property for $140K.
When you go to the closing table you will be ASSIGNING the contract over to the investor.
Now remember you were buying for $110K and selling for $140K.
The $30K spread leftover is YOURS!
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When you go to the closing table you will be ASSIGNING the contract over to the investor.
Now remember you were buying for $110K and selling for $140K.
The $30K spread leftover is YOURS!
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The $30K is called an assignment fee and your reward for finding the deal for the investor.
All three parties win in this scenario:
1. The motivated seller got rid of their home and got paid
2. The investor got a new house to flip below market value
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All three parties win in this scenario:
1. The motivated seller got rid of their home and got paid
2. The investor got a new house to flip below market value
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3. You made an assignment fee for working hard and finding that deal
Assignment fees range on the quality of the deal, but it is typical for them to be over $10K and I've heard of some over $50K!
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Assignment fees range on the quality of the deal, but it is typical for them to be over $10K and I've heard of some over $50K!
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The Keys to wholesaling: 
1. Quality lists to find motivated sellers
2. Quality list of real estate investors that can buy in cash
3. Dedication, Persistence, and Resilience
Dm me for a list of homeowners!!! or @Top_REI_Data
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1. Quality lists to find motivated sellers
2. Quality list of real estate investors that can buy in cash
3. Dedication, Persistence, and Resilience
Dm me for a list of homeowners!!! or @Top_REI_Data
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The laws and regulations regarding wholesaling differ from state to state, but in many no real estate license is required.
Thanks for reading, and I hope you now have an understanding of a possible side hustle
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Thanks for reading, and I hope you now have an understanding of a possible side hustle
15/15
Start your Real Estate journey only $150 https://twitter.com/timthorne_/status/1312159758619557888
https://twitter.com/timthorne_/status/1312159758619557888
