Discounted Cash Flow Techniques Answer Which Of The Following Questions Wholesaling Real Estate – Getting Started in Real Estate Investing-Try Wholesaling

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Wholesaling Real Estate – Getting Started in Real Estate Investing-Try Wholesaling

“How should I get started with real estate investing?” The question varies slightly, but its core is always the same. And for a new real estate investor, I think that’s an important question.

Years ago, when I started speaking at our local real estate group, I used to sit down with each person, usually over lunch, and try to determine their level of knowledge about real estate markets, financing techniques, sales skills, and other critical areas of knowledge before making a recommendation. how they should start investing in real estate.

After doing a dozen such meetings, it occurred to me that the answer I gave was the same regardless of their experience, skills and knowledge.

Without fail, I encouraged them to start wholesaling.

What is wholesale?

Wholesaling is about finding great real estate deals. Then putting the home under contract and finding another investor or retail buyer to buy the home contract from you for a profit above what you agreed to pay the seller.

For example, you have a big discount and you sell that discount to someone else for a fee.

Why wholesale?

I recommend wholesaling to novice real estate investors for several reasons.

First, it’s a very low-risk way to get involved in real estate investing. When you put a house under contract, you only put up $10, ideally no more than $100. Aside from your time and some marketing costs, that’s all you had to invest in your business when you started.

Second, it’s an extremely excellent way to learn your market. As a new investor, you might think that $10,000 below the refinanced appraisal value is a good deal for a house. Your market will probably teach you otherwise and it’s better to learn that lesson by trying to get through this type of deal with just $10 down on your registration deposit instead of trying to sell this house while paying the mortgage, utilities, taxes and insurance on the house you actually bought.

Third, you will meet other investors and be able to learn from them. As a wholesaler, you should find what other investors want and look for in deals. Some will be helpful and willing to share information and time with you. Many will not; don’t take it personally. There are good and bad people in this industry just like there are good and bad lawyers, doctors and accountants.

Fourth, you can generate quick cash. A challenge common to many real estate investors is cash flow. Learning to wholesale is learning how to generate money fast. Master the ability to generate money quickly and you have solved many problems.

And finally, you can find great buys and holds for your portfolio. It’s inevitable that as you search for wholesale deals, you’ll find exceptionally good properties for long-term buying, renting and holding for your own portfolio. I strongly suggest that you close six or more wholesale deals before you consider buying a long-term lease. By then, you should have a much better idea of ​​what a really good deal is than you did on your first day as a real estate investor.

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