Friend, What is Wholesaling Houses?
Kim and Charles Petty
Friend,
Wholesaling houses can make you $5,000-$30,000 or more per deal.
Let's define what exactly wholesaling is.
Wholesaling
is "Deal Making." Wholesaling is purchasing a property at a deep discount
and selling that property to another investor that will either sell to an owner occupant or hold for rental property.
An example of a typical wholesale deal:
We put a property under contract
for $65,000, it was worth $130,000 and needed $10,000 in repairs. We sold
that property within 14 days for $77,000 and recieved a check for $12,000!
The four basic steps are the following:
1) Find a deal
2) Get that deal under contract
3) Find an investor who will pay more
4) Sell it to that investor
You may close on the deal between steps 2 & 3, which will require financing and incur costs. Most wholesalers, however, never close on deals themselves, unless simultaneously selling it, thereby never requiring their own financing.
Base on a Return on Investment perspective, wholesaling is great! You put minimal money down (only an earnest money deposit). Sign a few papers when you get it under contract. Wholesale the property to another investor and sign a few more papers. And then you get your check at closing.
But what skills are involved? And what are the real costs? And do all deals close?
GOOD WHOLESALERS FIND GOOD DEALS
The key to making money wholesaling is finding deals below MAO.
You have to know your repair estimates, and ARV.
You have to be able to negotiate.
And more.....
We will talk about all this and more in the upcoming electronic Issues of Secrets of Successful Real Estate Investors. Stay tuned.....
Sharing your vision for success,
Kim and Charles Petty
www.KimandCharlesPetty.com
P.P.S. Download a FREE MP3 of Kim and Charles being interviewed
on 1010AM by Mary Ann Pine on the awesome world of wholesaling houses for fast cash by clicking on this link:
http://visionary.audioacrobat.com/download/7776187d-2786-cd75-9564-ae8d5d41adaa.mp3
P.S. For more information on the best most complete system to wholesale deals go to: http://www.VirtualRealEstateSystem.com
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