|Cash Flow And Wholesaling Houses|
|By : James Klobasa |
Submitted 2007-01-18 13:55:01
|The best thing about wholesaling houses is that there is no risk involved and you can proceed with the same with little or no-money down. This is because in the wholesaling real estate, you do not have to take ownership of that property. All you have to do is to take the property under contract, and simply assign this contract to another buyer who will close on the property in your place. |
Finding The Property
Finding the right real estate investing property for wholesaling houses primarily depends on your advertising strategies. Once you finalize the price with the homeowner or buyer, you have to prepare a sales contract between you (buyer) and the homeowner (seller). It is better if you use the contracts from the Board of Realtors because they are quite easy to use and people are familiar with them. However, in many areas, the Board of realtors does not sell contracts to the public. Check with your local Board of realtors first and if they do not sell the same, you can find a real estate contract from major office supply stores. Now, while you are filling out the contract, make sure that you put your name properly in the buyers name with the words and/or assign after that. Only then you will be able to assign the contract to the rehabber.
Building The Buyers List
Buyers list in wholesaling houses is the list of the rehabbers who buy wholesale real estate investing properties. In order to prepare a potential list, you can start with running an ad in the paper. This ad must convey a typical message, which is to the point. For example, you may use phrases like a great deal for rehabbers. After you have run an ad, investors will start calling you. Keep records of each call, and note down the contact information in a database, such as their name, number, fax, and email. Keep the ad running at least for sixty to ninety days.
Negotiating The Deal With The Rehabber
Negotiation is very important in both the cases. First, when you buy the real estate investing property from the homeowner under a contract, and the second, when you sell the property to the rehabbers. Obviously, the first time, the motive of your negotiation must be to finalize the deal at as low a price as possible, while the second time, the motive must be to finalize the deal at as high a price as possible. You need to be at your best in negotiating the deal in both the places. After all, this will substantially affect your overall profit.
Once you agree on a final price, you can move towards a closing, using your investor-friendly title company. Why title companies? Well, they are the ones who take on all your worries and do all the work for you. Your task is limited to finding a good deal, wholesaling the same to your rehabber, and going to the closing. After that, title companies will take charge and will do the rest.
Thus, here we see how simple it is to make a successful real estate investing deal and earn money in wholesaling houses.
|Author Resource:- James Klobasa, once broke with no job and $20,000 in debt made a choice that changed his life forever. That choice was investing in Real Estate. With the founder of, The Little Building Co. you too, can learn at Real-Real Estate Investing|
|Article From Daytona Beach Business News|
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