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Real Estate Investing: The General View Of Wholesaling

Feb 23, 2008
Real Estate is one of the most profitable markets out there, but many have the idea that you cannot go into this business without having a lot of money to start with. Wholesaling is a fast and easy way to make money in Real Estate without having worry about getting financing.

Here is what to do. Start prospecting for wholesale buyers and sellers. Don't wait until you have found a property to wholesale before you start locating a buyer. Talk to people. Talk to your friends, business associates, your competitors. Do networking and meet new people. If they are not buying or selling, they can lead you to people who are, and they will know who to go to when they will be buying or selling in the future. It is always good to build relationships with people you might do business with later.

Join your local Real Estate Investment Club (REI). You will meet other investors in the business and you can get some information you might need about the market. Your REI club is truly one of your better resources that you should take advantage of.

Put up "We buy houses" signs in some key areas. Put up as many as you can. It is a sure way to get people to call you and be careful not to break the law. In other words the calls you might be getting are ones that you do not want.

You can also do most commonly used forms of advertising. In the newspaper run an ad in your local paper and put in a buy houses ad. It is also a great tool to use to reach investors.

Once you find a good deal, secure the property with a Contract to Purchase or Option to purchase. You may file a Memorandum or Affidavit which states that you have a Contract to Purchase or Option to Purchase, with a legal description of the property to make known to the public your interest of the property, so as to avoid the seller selling the property to someone else while under contract.

Once you're ready to close, you may:

* If you already have a buyer:

> Have the Buyer close on the contract > Close with the Seller first, and then close with the Buyer > Do the reverse and close with the Buyer first, then close with the seller > Do the direct deeding approach, where the seller deeds the property over to the buyer directly

* If you are having a timing problem with your buyer, you may close on the contract and keep the property until your buyer is ready to close. However, you have to be able to finance property.

You will need an Escrow Agent or a Closing Attorney to close on your transaction.

If you haven't been involved in the Wholesaling market, look into it and give it a try. It's a great way to earn income quickly and is fairly easy!

Good luck!
About the Author
Real Estate Investing Is an excellent way to push for the future!! Great Real Estate Investing Tips Inside!! There is ALWAYS money to be made in Real Esatate
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