You 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.
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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.
What is a wholesale real estate investor?
This is a person who uses the art and science of finding a deeply discounted property using mass media marketing, locks it under a purchase contract and optionally sell or assign the equitable interest in the contract to an end buyer who will execute the contract for an assignment fee.
Can you make money wholesaling real estate?
Yes you can make money.
Successful wholesalers can make up to $1.5 million per year strictly from running an wholesale but scaled marketing operation.
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.
How do I find a real estate investor for wholesaling?
Most traditional methods will tell you to go to a local meetup to kiss up cash buyers or people who claim to be a cash buyer with no way to verify.
I am happy to tell you that you can learn the simple skill of digital marketing to build a massive list of potential buyers and investors and make money in that process even long before you close a deal.
You can then turn around and use that money to market for seller leads if you choose and make even more money.