Best-kept secrets in wholesaling houses

By shaye • July 18th, 2010

One of the most recommendable types of real estate investing is wholesaling houses. It is the easiest, most pocket-friendly investment you could get into. You could start making profit without having to shell out a huge amount of capital. As you go along this article, you will see the best-kept secrets veteran wholesalers swear by. Basically, a wholesaler’s job is to act as a middleman between the home seller and the end buyer. By bringing the two parties together, the wholesaler gets a profit for every deal he closes.  Also, since a wholesaler does not exactly buy houses for profit, there is very little risk involved that may not put a dent on your career as a real estate investor.

By making a sellers list, you have a consistent source of properties you can wholesale even when days are slow. A lot of wholesalers give up on wholesaling because they run out of houses to sell. Do not make the same mistake. To avoid this, create close ties with motivated sellers and keep their contact numbers so that they could provide you a steady flow of income. Give out business cards so that they could easily pick up the phone and give you a call immediately if they want to put their properties for sale. Or, they could recommend you to their friends or relatives in case some of them are interested in selling their homes.

After making a sellers list, you should also have a list of consistent buyers. Those people who rehab houses for a living are easily the motivated buyers around so make sure to build a good professional relationship with them. For you to have a strong buyers list, you could join a local real estate investing club that allows you to meet fellow investors and potential clients. You could also get more ideas what wholesaling is about by visiting REIWired.com.

Once you have the two lists on hand, it is time to work out your marketing strategy. Having a good and effective marketing plan is a sure-fire way to attract potential clients on a regular basis. Be creative as possible—you don’t want to advertise your business as something that is so-so. An effective and inexpensive way to let people know you wholesale houses is by putting up bandit signs on places that people frequently pass or drive by. Wholesaling houses is a very lucrative business but you also need to be aggressive while you are at it.

REI Wired is the ultimate real estate investor network on the planet. The sole purpose of this site is to arm you with the cutting-edge real estate investing tactics being used by the hottest investors in the industry…so you can dominate your competition and close more deals… FAST.

 

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