myEmpirePRODiscover top 3% wholesaling houses and finding distressed properties secrets in this episode.
You’ve heard that wholesaling houses requires your to find distressed deals but you don’t know how. In this video, we touch some details on this.
How does wholesaling houses work?
Wholesaling houses is the process of putting a real estate property under contract for purchase and then turning around to sell the equity interest for a profit.
It’s often done with no requirement of capital, downpayment or even credit as the goal is not for you to purchase the profit for long term holding.
What you are doing is essentially finding good under-priced deals for real estate investors who wants to fix it up and sell back to the market for profit.
You make your money from the spread in between and that money can go anywhere from $1,000 to even $200,000.
The key is your marketing ability and learning how to use it to find distressed properties one by distressed owners.
Ultimately, you want to voluntarily or involuntarily get them to sell you the property at 65% of the After repair value (A.R.V) minus cost of repair.
Wholesaling houses step by step
Traditionally, all you had to do was to download a list of distressed owners such as pre foreclosures, divorces, probates, tax defaults from online services and mail them.
However due to the evolution of technology and cheap online marketing, direct mailing is an overprices form of marketing without proper creative leverage of the internet.
Even dummies can do this business. It’s not easy but it’s very simple. With the right mentorship, you too can be on your way to start wholesaling houses to $30,000 per deal per month.
There are contracts involved but that’s no big deal.
Wholesaling houses 101
Your success is highly dependent on marketing skills. These days, it’s even easier and cheaper with online marketing.
That’s what I cover in this video. Enjoy
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ABOUT YOUR HOST ::::|
Ola “Tux” Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers
#myEmpirePRO #OLATuxAbitogun #WholesalingHouses
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