myEmpirePROYou are about to discover the 5 steps that make up a wholesale real estate investing business.
But first of all, here is a refresher on exactly what it is.
Wholesale real estate is simply the art and science of finding deeply discounted properties for able and willing investors.
Therefore, it’s a very lucrative business model whereby your assignment fee can be as high as $200,000.
My highest check at press time is $82,000.
Here goes the steps...
Did you check out my take on…
“Zillow Prospecting for Wholesale Real Estate Investing?”
Marketing to distressed homeowners is the 1st Step of Wholesale Real Estate Investing
Distressed homeowners include tire landlords, absentee owners, vacant properties, pre-foreclosure, delinquent taxes etc.
STEP 2 – Negotiate a deep discount
The idea is that when you market enough, you will eventually get a call from a seller who wants to entertain an offer.
After that, you will find out why they want to sell and use that information to negotiate a 35% or more off what the property is presently worth.
Use www.DealEstimator.com a free tool to find these numbers and there is a free deal calculator there as well.
STEP 3 – Lock it in an assignable purchase contract
Once you agree to a price that makes sense based on your finding at www.DealEstimator.com
You can also find free comps at www.EmpireBIGData.com
Have the seller sign an assignable purchase agreement with you.
STEP 4 – Finding an able and willing investor is the Source of BIG payday in wholesale real estate.
This is another marketing endeavor for those who do this successfully.
The best way is to build and pre-monetize a growing list of potential investors.
In Wholesale Real Estate Investing, Your buyers will come from this list.
Therefore that list has the potential of becoming the main asset in your business
Because you can leverage it to create joint venture deals with other wholesalers who will love you for it.
STEP 5 – Collect an assignment fee, repeat, and rinse.
The highest fee I have ever collected is $82,000 from one deal.
Below is a question for us to address with this lesson…
“My main buyer just hit me back, after I sent him a gorgeous deal on property I have under contract.
So he told me they are not buying any property over $15k, because they have had a flood of 300+ properties sent to them for $15k or less.
Now I know a lot of people are panicking during this pandemic.
So my question is if Anybody else dealing with this yet?”
So watch this video below to see how the question links to today’s lesson.
Enjoy the video.
