Wholesale Real Estate Pro

When you remodel a house, it is easy to get sidetracked and loose focus. There is a simple way to attack this and make the project easier and more timely.

First step is to walk the house and make mental notes in each room of what needs to be fixed or redone. Then, leave the house and collect your thoughts. Get a cup of coffee.

Next, go back to the house with a notepad and walk the house again. This time, make a list, by room, at to all of the items that need to be fixed. Do not forget to look up! Often times, you will be done with a project, only to realize you missed something on the ceiling.

Once you have your list and have purchased the necessary items, start your project. It does not matter if you start in the front or the back of the house, but focus on just one room at a time. Work from the ceiling to the floor. That way, if something gets on the floor, it will not matter when you replace the carpet.

Last, repeat this step with the exterior of the house. Start at the front and walk to the back. Make you list as you go and do not forget to look up. Also, very important step is to go across the street and look at the house. If the trees are covering the house, cut them back so the house can be seen. Sometimes, you might even have to remove a tree. Try not to do this as this can quickly decrease your property value.

Add flowers. It is amazing how much $100.00 worth of flowers can brighten up a house and improve its curb appeal. It can even mean the difference between a few thousand dollars on the sales price or even getting the right buyer to come inside and fall in love with the home.

Okay, so if you’ve followed my instructions in step one and really put the time and energy in to educating yourself on your target areas and understanding the value of the property in those areas, then we are ready to move on to learning how much you can pay.

Wholesale Real Estate means buying and selling real estate at a discount. Think of other wholesale companies and what they do, exactly that. They don’t over pay for products and turn around and sell them for retail value. So, it’s the same with Wholesale Real Estate, you buy at a discount and then resell at a discount. That simple.

You set your profit margin when you purchase the property meaning that “you make your money when you buy”, you will here that over and over. Don’t take this lightly. Too many people over pay for property because they are just so motivated to do a deal that there emotions take over…..don’t let that be you. There’s a saying that goes something like this…..”when emotions are up, intellect is down”. This is true. Don’t be the motivated buyer or you will fail right out of the gates. Be patient and find the right deal.

So, how much do you pay…..well, that depends on your negotiating skills. A rule of thumb for wholesale real estate is .50 - .60 on the dollar, but that doesn’t mean you set the bar there. We buy many properties at .20 - .40 on the dollar which yields us larger profits and less holding times. The goal is to buy and resell as quick as possible and the less you pay, the less you charge and the quicker it moves. You want to be the go to person where other investors come for good deals. Once you build a reputation with other investors, then it will make turning profits quick and painless. We will talk more about building your list of investors to sell to in future articles.

A quick summary.

• Wholesale Real Estate means buying and selling real estate at a discount.
• Don’t be a motivated buyer. Be patient and find good deals.
• You make your money when you buy
• Don’t be emotional
• Never pay more than .50 - .60 on the dollar of the retail value of the property
• Buy low, sell medium and quickly
• Build a reputation with other investors as the “guy (or gal) with the good deals”

Remember, Wholesale Real Estate is not easy and you won’t get rich over night. But if you work hard at it, you will make A LOT of money!

Step One, Doing your homework.

This is one of the more crucial elements to becoming a wholesale real estate investor that people miss. There may be some businesses out there that you can just dive in to without doing any research, but I don’t recommend it for this one. I even recommend for those who have a little bit of experience to really think about whether they are educating themselves or not.

As a wholesale real estate investor It’s important to understand some of the aspects of the business and what you are looking for in particular. Although you don’t need to study for months at a time to be successful, you will need to do a little research.

Where to start your research

1. Pick some neighborhoods as your target. One or two will do to start. The more narrow your focus is, the better your results will be. We are looking for median neighborhoods to start our wholesale real estate business. So ideally neighborhoods where middle class folks live. Cookie cutter neighborhoods are a great place to start, you know where all the houses look the same. Depending on your area, will depend on the price points. A good gage is an average of 150,000 priced homes in most areas. Houses built in 1970 or above are best as they usually have less problems. Brick ranch style houses are great!
2. Get to know your target neighborhoods. Drive them daily, twice daily if possible. Look for signs of crime, heavy foot traffic or any other red flags. Remember, you want to buy a house that will sell easily to someone with a family or that will feel safe. Although you will not be retailing the house yourself, the person buying it from you will be and they won’t buy it if it’s in a crime ridden neighborhood. Start looking for vacant or abandon houses, these are your first target properties that you want to focus on. Write down the information such as the address of the house, what it looks like, what kind of condition it’s in, etc. You will need to know all this. In future articles we will get more in to detail about these items, but for now you just need to familiarize yourself with the neighborhoods.
3. Get some comps. Comparables are necessary for you to know how much you can pay for the house or at least get it under contract. So, if you are familiar with Real Estate and feel comfortable doing your own comps you can always go on Realtor.com and pull area specific comps. The only problem here is that you don’t get a lot of the important information. I would recommend talking with an agent or a broker to get some true comps. You need to know: average days on market, price per square foot, % of asking price obtained, etc… Remember to only compare similar houses, for instance you need to have different comps for a one story and a two story house. Make sense? Good!

Okay, now you have someplace to start. Get started on doing your homework and I would suggest not to cut any corners. Spend some quality time on this, after all you are building a brand new business for yourself so give it 100%. If you are not willing to do this step, then you might just as well quit now because you WILL FAIL!  

 Learn more about wholesale real estate simply just keep coming back.

It Takes Money To Make Money…..Or Does It?

Nope, absolutely NOT! Not as a real estate investor anyway. The person who told you this is likely trying to justify why they are broke. What you are going to learn here as you come back is a step by step guide on how to make money in real estate starting with NO MONEY! It doesn’t matter if you have no job, no credit, no friends, negative net worth, bankrupt and you are absolutely broke!

The fact of the matter is that, if you can’t make money with no money, then you can’t make money with money. In the case of real estate investing, it’s likely to hurt you if you have money than if you do not. Too many times do we just throw money at problems to try and fix them. You are better off broke to start this journey.

The key is to leverage your time and your brain. Stay in control, follow the path of what someone successful left for you. There have been many people that succeed ahead of us in areas of our lives and too often we don’t follow them. We try and make our own path because we think it’s better or that we’re smarter. Don’t make this mistake. There is no room for egos in real estate investing.

A few things you need to understand before you move forward.

1. Don’t be a “Flipper”. If you are just starting out in real estate investing the last thing that you want to do is rehab and flip a house. You just don’t simply have the skill set and knowledge to pull this off. There are too many unknowns and variables when it comes to rehabbing a house for a profit. Be a wholesaler. That’s what you will learn here. If you had some big dreams and thoughts of being a flipper, then I apologize for bursting your bubble, but trust me it’s for the best!
2. If you take rejection personally, then this probably isn’t for you! I don’t mean to be a downer, but my purpose of this blog is to give you the truth and not to sugar coat things like some late night TV infomercial! This business is hard and there is a lot of rejection.
3. If you have the work ethic of a slug. FORGET IT!

I’ll leave you with this. Real estate investing and wholesaling properties is for true entrepreneurs. Those who are willing to do what’s hard now so that the rest of their lives will be easy. Those who have the “I’ll do whatever it takes” attitude is who this is for. If you were hoping for some song and dance about how you are going to get rich over night with no money down, then I apologize. However, if you have the right attitude and work ethic then you can do EXTREMELY well with this business. It’s really just a matter of choice.

We own a VERY successful Real Estate Investing Company and will be giving away nearly everything that I know on this blog. We have been successfully investing in Real Estate for over 5 years and have developed systems that anyone can put in to place if they wish to become a Real Estate Investor.

Here is some of what’s to come and what you will learn!

• No Money Down Investing! No this is not a scam. These are proven ethical, honest and real methods used every day by successful investors.
• Everything that you need to know to get started. Step by step tutorials.
• A complete guide on how to borrow money from private lenders
• A complete guide on how to find private lenders
• Successful Marketing secrets
• Leveraging your Real Estate business
• A complete guide on how to find the best deals including where to look and who to talk to.
• A comprehensive guide to negotiating. Negotiating is your number one focus, you make most of your money when you buy.
• The truth about “flipping” houses! Not what you see on tv.
• Video footage of real projects
• Much, much, more……

These are just a handful of things that we will be teaching on this blog. The best part is, that’s it’s all FREE to you! All you have to do is come here, read it and apply what you learn in your market. Pretty simple eh?

Be sure to check back SOON for updates.

What is driving you everyday? What gets you out of bed in the morning? What are some of your short term and long term goals? Or do you even have any? Are you just trying to make enough money to pay all your bills this month  and then be lackadaisical until the pressure of the bills comes on next month? Some people are motivated by pain and associate there bills to pain! Some people are motivated by money, but associate money with pain. I believe that it is extremely important for you to recognize what motivates you. It’s your mindset and your attitude that will predict your future. In order to change the direction in which your life is going and to get more out of life, you MUST HAVE GOALS!!!!

Real Estate Investing can be a VERY lucrative business. Most people who fail because it’s a direct result of what they put in to it. This is a great business, but you will have to work hard at it and someday you won’t have to work again. You need to write down your goals on paper, short and long term! I know…..you’ve heard about all this goal setting stuff before I know, BUT did you set them? Did you take specific action towards achieving your goals? Only you know the answer to that. Your goals must be specific with deadlines and you must take specific actions towards accomplishing those goals every day. A goal without a deadline is just a conversation! When setting your goals you should have different sets of goals like financial, personal, professional, spiritual, physical. Once you have your goals you must be determined to achieving them. You MUST take ACTION!

Obviously now you know you must have goals for your Real Estate Investing Career. If you are just a beginner, it’s even more important. There are going to be different levels of goals for different levels of investors. It is my recommendation if you are new to find yourself a mentor! A mentor in this business is a MUST!!! If you believe anything that I tell you, believe this! Your mentor can help you with your goal setting.

Are you committed to becoming a successful Real Estate Investor? If the answer is yes then you must ask yourself a few questions!

1. Do I have a mentor? Someone with a lot of experience in the industry?
2. What books am I reading? Am I educating myself?
3. How do I feel physically? Do you need to change your exercise habits?
4. Who am I spending my time with and what am I getting out of it?
5. If I get what I want, will I be happy with what I have?

Your success in this or any industry is going to be a direct result of.

1. Your Attitude
2. Your mindset
3. What you read
4. Who you surround yourself with!  

Your complete interactive guide to building wealth with Wholesale Real Estate with little to no money! NO JOKE!

There is A LOT of money in buying and selling Real Estate at a discount. What we will teach you is how to do this at a significant discount so that there is less risk for you and your property moves within 30 days!

This is NOT a money making scheme. This is simply an information source for you to tap if you are interested in making money in Real Estate.

Get ready to quit your day job and start Wholesaling Real Estate SOON!