One of the most commonly asked questions I get is “what is wholesale real estate investing?”
Wholesale Real estate investing involves the investment of time and marketing skills in finding deeply discounted properties…
In place of an actual traditional investment capital in real estate for the purpose of quick profits.
On the previous post, we dived through 3 irrefutable ways to fail in wholesale real estate investing, so be sure to check it out.
Maybe I should break that down a little further right?
Real estate is a necessity in every society and…
Because of that, investing in it can be a very long term lucrative model.
In fact …
“Over the last two centuries, about 90 percent of the world’s millionaires have been created by investing in real estate.”thecollegeinvestor.com
But to invest in real estate for an average person can be a very expensive fit.
Also, people who invest in real estate on a regular basis need to find good deals and that can be time consuming.
In addition to that, it takes marketing skills to create a pipeline in order to have options that funnels into the best deals.
Every investor wants to have a portfolio of the best deals in town right?
That takes marketing skills to find.
Because of this, you don’t have to have the capital for a down payment to purchase a property in order to capitalize on real estate investment.
If you have time and can master marketing skills, you can invest it in finding deeply discounted deals for people who have the capital.
The highest fee I have ever collected is $82,000 from one wholesale real estate investing deal.
Below is a question for us to address with this lesson…
“Here, I found a property on Zillow.
Manage to text the seller to get details on the property she’s currently selling for $25k.
Couldn’t negotiate any lower than $20K.
She mentions it is MOVE IN READY so it only needs a little TLC.
—Text from the seller—
Ok. Would you like to see the house?
Ok. Well, Whenever you want to schedule a walk though just let me know.
I have 2 people scheduled to see it tomorrow.
—End Text from the seller—
My question is how to bring up in a conversation with the seller the purchase and sell agreement?”
Enjoy the video.
Can you Generate Leads or Deals for Wholesale Real Estate Investing on Zillow?
Absolutely but there is a but.
As a wholesaler, your primary duty is actually marketing and how fast you can get through leads.
There are tools that many successful people use to scrape properties for sale by owner on Zillow.
If that’s what you are using to generate properties that are potentially available for sale, that’s fine.
But the idea of just going on to that site and having unnecessary long conversations with non-motivated sellers is what you should avoid.
When you are dealing with a prospect, as marketer you should always imagine what’s in it for them?
Whats the value for them in listing their property on Zillow?
Do they need to sell fast or they just want to avoid paying a sales commission?
So when a seller says the property is move-in ready, that’s just one data point but not necessarily the end.
There is ONE THING you need to know.
Are they motivated or not?
If a seller insists that you have to see the house, the answer is “sure, I want to see the house.”
But more importantly, does that signal low or high motivation to sell?
Here is 2nd Secret about Making Wholesale Real Estate Investing Offers on Zillow…
When a seller tells you that they have other options outside of you, that’s okay and always okay.
If that’s not okay with you, it means you do not have options of leads coming into your business pipeline daily.
At that point, you should be worried about running a dead business.
Check out the brand new www.EmpireBIGData.com for unlimited data for your real estate business… free of charge.
If you want to learn how to build a pipeline of leads generation for your business, download Smart Real Estate Wholesaling for FREE NOW!
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Padilla 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Awesome book!!
Cliff R. 4.0 out of 5 stars ⭐⭐⭐⭐ Full of actionable, useful information for sure.
The author does an excellent job of cutting through much of the real estate wholesaling BS that is prevalent in the market. That is to say while most gurus are teaching what they DO NOT DO, Ola outlines steps of creating value at the center of your marketing. His down to earth delivery just makes sense. He speaks of leveraging technology, the importance of multiple income streams, and an overview of the real estate wholesaling business in the new age of business marketing. For example, he mentions that many people don't even like their family members stopping by unannounced, so how can you expect them to be ultra receptive to a stranger popping up looking to capitalize on a misfortune. Of course that's not how the "Door Knocking" conversation would be framed, but that's exactly what it is. All in all I enjoyed the read and if you plan on making action your focus, you will too.
Brian Ellwood 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Solid Advice From Someone Who's Been There
Ola is a legit real estate investor and marketer. He's a real student of wholesaling and marketing - his approach to marketing for wholesale deals - ADD VALUE - is recession proof and feels right. Don't pass up this book!
Melton Thomas 5.0 out of 5 stars ⭐⭐⭐⭐⭐ A true mindset shift!
As a virtual real estate wholesaler and investor, it makes sense to me to optimize my approach and use technology to drive. This book gave me a clear, concise framework that I could leverage and implement!
stacy 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Amazing
This book is amazing and very beneficial. The author is very knowledgeable on the concepts at hand. Definitely a great book to read.
Is wholesaling real estate worth it?
If you understand that wholesaling real estate is about your marketing skills and ability, it is worth every effort you apply to it.
How do I become a real estate wholesale investor?
To become a real estate wholesale investor, all you need is the willingness to master the art and science of marketing for wholesale deals in real estate.
Do you need a license to wholesale real estate?
It depends on the state you are operate in and the volume of wholesale real estate deals that you are doing. Once you close your first deal, it is highly recommended to check with your local real estate laws. But at least at that point, you know it will be worth investing time and resource in getting licensed or at least partnering with a licensed agent.
How much money do you need to start wholesaling real estate?
Using the smart wholesaling formula, all you need is $300 but it can take a lot less if you don’t value time and have time to invest in manual marketing methods.