What is Wholesale Real Estate
February 19th, 2021
Breaking into the real estate game can be intimidating (and just a bit scary) but if you use wholesaling to get your feet wet, it makes it less risky and you can do it with little or no money out of pocket!!
What exactly is wholesale real estate?
Let’s break down the 4 ways that wholesale real estate can be described.
- Wholesaling is the process of acquiring distressed properties at a discount and then passing those deals off to another investor for a fee.
- Wholesaling is buying low and selling low.
- Wholesaling is getting paid for finding good deals for rehabbers and buy-andhold investors for a fee.
- Wholesaling is getting a deal under contract and then assigning the contract to another investor for a fee.
All of these definitions are correct but the biggest distinction to understand is that with wholesaling, you do NOT make any improvements to the property (this is called rehabbing or “fix and flip”). Wholesaling is passing the deal off to someone else who will do the improvements.
Essentially, wholesaling is taking less profit now with no work (not doing any improvements) instead of more profit later with a lot of work (doing improvements and flipping it or renting it).
Not only is wholesaling the best strategy for getting started in real estate but it’s also the best way to make extra money, period. Here’s why... when done correctly, wholesaling doesn’t require any cash or credit. There is virtually no risk on your part, and it’s an easy way to make a quick $5,000 to $10,000. Regardless of your financial goals and whether or not you decide to pursue other strategies, such as rentals, rehabs, lease options, new construction, notes, or even commercial, there will always be an opportunity to quickly wholesale a property, make a fast profit, and move on to another deal.
You can find all the tried-and-true steps for wholesaling in Jerry Norton’s ebook Making Money in Real Estate. Click HERE to get your free copy today!
Is Wholesaling for You?
There are so many reasons why wholesaling can be a blessing in your life and here are just a few.
- You want to make some extra money part-time in your spare time
- You want to do real estate full-time and fire your boss
- You want to work from home, be your own boss and create your own schedule
- You want more time and freedom to do what you want, when you want to do it
- You’re tired of scrimping and barely getting by
- You want more money to travel, eat at nice restaurants and have nice things
- You don’t want to deal with rehabbing houses and babysitting contractors
- You don’t want to deal with tenants, toilets and turnover
- You want to make money in real estate, but you don’t have investment capital or credit to fund deals
- You want to do something fun, exciting and rewarding
- You like the idea of getting paid for your efforts
- You like the idea of not having a ceiling on how much money you can make
- You need extra money to care for your aging parents or put your kids through college
- You’re worried about retirement and want to have a nest egg
- You’re sick and tired of the 9 to 5 rat race, office politics and rush hour traffic
- You just want to provide yourself and your family a better future
- You want to create a legacy for generations to come
If one of these struck a chord with you, check out www.flipstersoftware.com. Flipster is a cloud based software that will help you organize, streamline and automate all the steps to wholesaling houses. It also comes with a Crash Course Wholesaling training to get you started!
Watch this YouTube video to learn more about Flipster then check out some of the other videos on the channel where you can watch Jerry Norton do live wholesale deals.
Ultimately, wholesaling is for you if you want more time and freedom to be, do, have and give what’s really important in your life. Enjoy the journey friends, and don’t forget to check out www.flipstersoftware.com to get started wholesaling today.