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So what is reverse wholesaling real estate and why is it almost a worst idea than "FORWARD" wholesaling?
Before I tell you that, wholesaling basically involved finding and identify a distressed property with a motivated seller.
After locking it under contracts at a set price with a minimum of 30%-35% equity less all liens and repair cost, you then find a buyer who is able and qualify to buy the contract from you for a fee.
Reverse wholesaling is basically reversing which one of the entities you find first.
Instead of finding the motivated seller first, it involves finding a buyer first, knowing their criteria and then finding them a motivated seller that fits it with a distressed property.
This is the worst idea ever when you finally discover a better business model; S.M.A.R.T WHOLESALING.
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ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and father to their 2 Boys. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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