subject: Making A Living From Wholesaling Houses [print this page] There are various modes of investing today that can give you quick returns for your money. However, not all of them can be conducted without a huge capital. That is where wholesaling houses stands out. This kind of real estate investing does not require you to have hundreds of thousands of dollars because you dont actually have to buy houses. You just have to sell them.
You might have been a bit confused with that. How can one sell a property without buying it first. Contrary to what most people know, wholesalers dont use their own money to buy houses. What they do is place a property under contract for a small amount. They then find a buyer for that property. The buyer will be the one to buy the property, using the contract signed by the wholesaler. You will then get an assignment fee for your effort.
If you think wholesaling houses is a good way to make huge money today, without the risks and the capital required, you must know more about it. Read the following pointers.
First is building a buyers list. This is a list of buyers who are ready to purchase properties in a certain area. Let us take note that wholesaling houses is selling the property fast. Therefore, it will help if you already have buyers even before you find a property. Learn how you can build a list by visiting websites REIwired.com, which also has videos about wholesaling houses.
Second is finding the right sellers. Have you ever heard of the term motivated sellers? These are home owners who need to sell their properties fast. Price is not their major concern. When you are negotiating with a motivated seller, you will be able to dictate the price of the property. Remember, these owners just want their property to be sold. This is an opportunity for you to purchase their property for bargain costs.
Third is learning how to listen to your sellers. Motivated sellers have various reasons for selling their property. Some of them are moving to another area because of a job relocation. Others have already bought a new property. Many of them are selling homes because they are struggling financially. Recent divorcees who need cash to start anew can also be considered motivated sellers. Whatever their reason, you must be able to listen to these people. Don not be too aggressive when negotiating. The last person they want to talk to is someone who wants to take away their home amid a tough time.
