You are about to discover the 5 steps that make up a wholesale real estate investing business.
First of all, here is a refresh on exactly what it is....
It is simply the art and science of finding deeply discounted properties for able and willing investors.
It's a very lucrative business model whereby your assignment fee can be as high as $200,000.
My highest check at press time is $82,000.
Here goes the steps.
STEP 1 - Market to distressed homeowners.
Distressed homeowners include tire landlords, absentee owners, vacant properties, preforeclosure, delinquent taxes etc.
STEP 2 - Negotiate a deep discount
The idea is that when you market enough, you will eventually get a call from a seller who wants to entertain an offer.
Find out why they want to sell and use that information to negotiate a 35% or more off what the property is presently worth.
Use DealEstimator.com a free tool to find these numbers and there is a free deal calculator there as well.
STEP 3 - Lock it in an assignable purchase contract
Once you agree to a price that makes sense based on your finding at www.DealEstimator.com
Have the seller sign an assignable purchase agreement with you.
STEP 4 - Find an able and willing investor.
This is another marketing endeavor for those who do this successfully.
The best way is to build and pre-monetize a growing list of potential investors.
Your buyer will come from this list.
That list has the potential of becoming the main asset in your business
As you can leverage it to create joint venture deals with other wholesalers who will love you for it.
STEP 5 - Collect an assignment fee, repeat, and rinse.
The highest fee I have ever collected is $82,000 from one deal.
Below is a question for us to address with this lesson...
“My main buyer just hit me back, after I sent him a gorgeous deal on property I have under contract.
He told me they are not buying any property over $15k, because they have had a flood of 300+ properties sent to them for $15k or less.
Now I know a lot of people are panicking during this pandemic.
Anybody else dealing with this yet?”
Enjoy the video.
BLOG POST - https://myempirepro.com/blog/
ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. 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 a father. 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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myEmpirePRO :|: http://myEmpirePRO.com