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Wholesaling Real Estate Is One Of The Safer Ways To Start Investing In Real Estate. Here’s Why Beginner Investors Should Wholesale Real Estate…
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Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I’ve got quick video on why Wholesaling / Flipping Real Estate is good for beginner investors
Qualifications: Wholesaling Property “Ease of Entry”
Not a lot of…
– Time
– Experience
– Money or credit
– Resources
– Looking to make Quick Cash with low risk
Investment: Typical Wholesaling Properties Work Day
– Time — Typically 1-3 Hours a day
– Looking through ads/posting ads
– Calling realtors
– Drive-through neighborhoods
– Attending REIA meetings/networking
– Building a Buyers list
– Market Analysis
– pulling comps
– Creating a Plan –
– Money
– Earnest money — as little as $1 – $1000 — get it back rather quickly
Financial/Experience Gain from wholesaling houses:
– Typically $1,000 – $10,000 / transaction (5-10 total hours of work per transaction)
– Build relations — realtors, investors, title companies,
– Learn the market
– Assessing profit margins based on Repair costs
– Familiarize yourself with purchase and sales agreements
– Start building financial strength
– Move on to other areas of real estate — rehabs, short sales, reo’s
Wholesaling Property Risks:
– Money in Deal – If using private mortgage lender, none of your own money is in the wholesale real estate deal
– End buyer backs out
– Buyers list setup
– pre-sell properties – no holding time when you flip properties
– replace buyers
If you always wondered how or what niche of real estate investing was a good place to start, wholesaling properties is it. It’s low risk, doesn’t require credit, very little capital is needed, and the time investment is very manageable especially if you have a full-time job. Flipping real estate allows you to learn the business safely, and helps you to start build financial strength so you are able to pursue bigger and better investments.
Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you’ll be automatically notified when we upload more quick video tips for you. Take care and good investing.
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