Wholesale Like A Pro With These Five Pointers

If you want to know How To Wholesale, make sure you learn these clever tips.

When people think of real estate investing, they usually imagine something along the lines of house flipping or long term buying and holding. However, a crucial part of the real estate world that is often overlooked is wholesaling.

As you might know, wholesaling is the act of finding a property and then, instead of buying it, putting it under contract and finding a buyer to close in your place.

Wholesaling bares much less risk than standard house flipping and can be appealing to people that have not yet built up a sum of expendable income.

Below are a few critical ways to improve your mindset and execution when wholesaling.

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How To Make The Right Offer When Flipping

Knowing the steps to making the right offer with help teach you How To Purchase Real Estate.

Imagine for a second that you are looking to purchase a house to invest in. You search through listings on MLS, in the newspaper, on Craigslist and even drive around town looking for “for sale” signs.

Finally you find it: the perfect house for your flip. The asking price is even below 70% of the ARV. Everything is working out great.

Except that you aren’t the only one looking at this house. There are more than a few other investors taking the same bait as you, and you are on the brink of a bidding war.

When you are the only one making an offer on the house, you can influence the seller to meet your needs. However, if there are multiple bidders, you don’t have time to play hard to get.

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How To Purchase Real Estate | Making The Right Offer

Knowing the steps to making the right offer with help teach you How To Purchase Real Estate.

Imagine for a second that you are looking to purchase a house to invest in. You search through listings on MLS, in the newspaper, on Craigslist and even drive around town looking for “for sale” signs.

Finally you find it: the perfect house for your flip. The asking price is even below 70% of the ARV. Everything is working out great…

Except that you aren’t the only one looking at this house. There are more than a few other investors taking the same bait as you, and you are on the brink of a bidding war.

When you are the only one making an offer on the house, you can influence the seller to meet your needs. However, if there are multiple bidders, you don’t have time to play hard to get.

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House Flipping Business Plan | How To Eliminate Risk

When assembling your House Flipping Business Plan, make sure you take the necessary steps to eliminate as much risk as possible.

“The best laid schemes of mice and men often go astray” – Robert Burns, “To A Mouse”

Real estate investing can have an enormous amount of unpredictability. You never know which way the market is going to turn, or what problems could arise when buying, rehabbing or selling a property. To eliminate this unpredictability, you should do the proper research and get rid of as many variables as possible. If you fail to do this, you will be at risk of sinking your venture.

One of the most common reasons that newcomers are scared away from the idea of house flipping is the risk. Many people believe the old saying “the bigger the risk the bigger the reward” is the be-all and end-all of real estate.

For most regular folk, especially beginners in house flipping, risk is a dangerous word, that could mean the loss of your life’s savings, or falling into a deep pit of debt.

Don’t roll the dice on a project. Instead, lay out a house flipping business plan, outlining your risk-free strategy. Leave the risk to the hedge funds and the wealthy that can afford to take a loss on a property.

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The Red Flags Of Foreclosure Investing | Part 2

If you want to learn How To Buy Foreclosures, make sure you know the red flags that could sink your project.

As you already know, buying foreclosures is a great way to get a house for well under market value. And, since the economic crash of 2008, purchasing foreclosures has never been more popular in the real estate community.

However, not every foreclosed home is a worthwhile buy. Some properties will cost so much in rehab that you will end up losing money on the venture. Even if you break even, you will have essentially spent a great deal of time and energy fixing up a house for someone else for free.

To find out if a particular foreclosure is a bad buy, make sure you know the red flags that will sink your project.

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How To Buy Foreclosures | Red Flags To Look Out For | Part 2

If you want to learn How To Buy Foreclosures, make sure you know the red flags that could sink your project!

As you already know, buying foreclosures is a great way to get a house for well under market value. Additionally, since the economic crash of 2008, purchasing foreclosures has never been more popular in the real estate community.

However, not every foreclosed home is a worthwhile buy. Some properties will cost so much in rehab that you will end up losing money on the venture. Even if you break even, you will have essentially spent a great deal of time and energy fixing up a house for someone else for free.

To find out if a particular foreclosure is a bad buy, make sure you know the red flags that will sink your project.

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The Red Flags of Foreclosure Investing | Part 1

Make sure you keep an eye out for these red flags when foreclosure investing.

Purchasing foreclosed properties is often great for house flippers. You can buy the house for well under market value, and in turn, get a great deal. Generally speaking, there are three types of foreclosures: Short sales, foreclosures bought from an auction, and REOs.

While these properties are generally much cheaper than houses bought in a traditional way, they also come with a great deal of risk.

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Foreclosure Investing | The Red Flags To Look Out For | Part 1

Make sure you keep an eye out for these red flags when foreclosure investing.

Purchasing foreclosed properties is often great for house flippers. You can buy the house for well under market value, and in turn, get a great deal. Generally speaking, there are three types of foreclosures: Short sales, foreclosures bought from an auction, and REOs.

While these properties are generally much cheaper than houses bought in a traditional way, they also come with a great deal of risk. When foreclosure investing, make sure you learn the risks so you can reap the rewards.

The Red Flags of Foreclosure Investing: #1-5

If you are buying a property from an auction, you’ll almost never be able to see the interior of the house. This means that there is no real way to assess any problems.

However, if you are thinking about purchasing a short sale or an REO property, you will be allowed to look inside and get the home inspected. For these latter two cases, make sure you avoid purchasing a property with any of the following problems.

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