Making Big Profits With Wholesale Real Estate
- Date: 2007-07-04 - Word Count: 477
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The beautiful thing about being a real estate investor is that there are unlimited ways to make BIG cash all the time in any type of economy. Real Estate is one of those things that everybody needs. It is not quite water, but it is something that everybody needs. Even the homeless guy has established his piece of real estate under the bridge or in the alley, etc. So you can see how you can take advantage of this wonderful resource and make lots of money.
Creativity is the key to making lots of money in real estate. After all, we want to be able to make money no matter what, so we need to come up with many options to make this happen in any economy and environment. This is where I like to look at one of the easier techniques known as "wholesaling." Wholesaling is the art of finding a seller who is in a bit of a state of emergency. The state of emergency or distress can be many different things. It can be foreclosure, divorce, death, military move, and there are many others out there. The challenge here is to find them, or in fact make them find you.
The basics of wholesaling are fairly simple. You simply find a good deal from a distressed seller who needs to get out of the home as soon as possible. When you find this deal, you have many options to choose from. You can rent it out and make a couple extra bucks a month, rehab the property and resell it, lease options, etc. You can also do what I like to do and wholesale the property. You simply get the rights to the property and sell it to another investor for a more than you have rights to the property for. This does a couple of things. This insures that you will be paid on the front end of the deal at the closing table and you do not have to do any of the rehab work on the property. The investor that you sold it to will be the one that is taking on that responsibility. So, you do not have to deal with any of the contractors involved or any rehab period, all you have to do is get your check at closing and move on to the next one.
Wholesaling is great and fun and some even call it addictive, however I will add this word of caution. Make sure you protect yourself in your deal. The last thing you want is to find a good deal, and show other investors and they go behind your back and cut you out of the deal. So make sure you protect yourself. Get out there and get those deals and make lots of money. Anybody can do this. The only thing stopping you is YOU!
Creativity is the key to making lots of money in real estate. After all, we want to be able to make money no matter what, so we need to come up with many options to make this happen in any economy and environment. This is where I like to look at one of the easier techniques known as "wholesaling." Wholesaling is the art of finding a seller who is in a bit of a state of emergency. The state of emergency or distress can be many different things. It can be foreclosure, divorce, death, military move, and there are many others out there. The challenge here is to find them, or in fact make them find you.
The basics of wholesaling are fairly simple. You simply find a good deal from a distressed seller who needs to get out of the home as soon as possible. When you find this deal, you have many options to choose from. You can rent it out and make a couple extra bucks a month, rehab the property and resell it, lease options, etc. You can also do what I like to do and wholesale the property. You simply get the rights to the property and sell it to another investor for a more than you have rights to the property for. This does a couple of things. This insures that you will be paid on the front end of the deal at the closing table and you do not have to do any of the rehab work on the property. The investor that you sold it to will be the one that is taking on that responsibility. So, you do not have to deal with any of the contractors involved or any rehab period, all you have to do is get your check at closing and move on to the next one.
Wholesaling is great and fun and some even call it addictive, however I will add this word of caution. Make sure you protect yourself in your deal. The last thing you want is to find a good deal, and show other investors and they go behind your back and cut you out of the deal. So make sure you protect yourself. Get out there and get those deals and make lots of money. Anybody can do this. The only thing stopping you is YOU!
Related Tags: money, real estate investing, opportunity, foreclosure, cash, investor, no money down, preforeclosure
Terry Burchett is known for his real estate savvy and has shown many people how to make loads of CASH in real estate. To find out more, check out his website at www.twholesaleproperties.com Your Article Search Directory : Find in Articles
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