How To Wholesale Real Estate For Beginners is perfect for anyone interested in wholesaling real estate. Wholesaling real estate is a very easy way to make a lot of money. It requires NO license, and anyone can do it. People try to keep it a secret, but I, Allen Jimenez, certified real estate broker with 15+ years of experience, show everyone how to do it for free.
Wholesaling realestate requires strategy, real estate marketing, real estate scripts, and coaching, but leads you to a BIG pay day! Probably the best part of being a real estate wholesaler is that this is not a commission job.
Your earnings rely on how good the deals you find are and how many of them you can find. So, it’s all about what you can do, it comes down to your performance and your ability stay focused and organized to get the max of these negotiations!
Marketing Plan to Attack
The strategies you use for marketing will help you boost your wholesaling business. You must active a good lead generation campaign to get you started and keep you going. These are the three most common ways to generate wholesale leads:
- Networking: creating solid connections with others in this industry has been the pillar of every branch in real estate since ALWAYS! Never think of this as a waste of time. This can truly boost your results.
- Marketing Campaigns: spread the word about your services or deals available through business cards, postcards, social media posts or email campaigns. Make sure to be present in your leads’ lives. Make sure you reach your target audience.
- Social Media: you must leverage this free, accessible to everyone tool. Possibilities are endless. Nowadays almost everyone has an account on any of these popular networks. Make sure to have a presence on Facebook, Twitter, Instagram, and LinkedIn. Their millions of users mean a goldmine to dig wholesaling leads from. When used right, social media can provide you with endless streams of leads to your buyers’ list.
- Bandit Signs: we have already talked about the importance of this ancient tool that keeps ruling the market until today. You can invest a little money to print some nice signs, but what truly matters about them is where you put them. You want them to be visible, to be allowed to be there, and to have them in a location where they can be for as longest as possible.
Where Do I Find Sellers?
You’re interested in getting started in real estate wholesale, but you keep wondering where do I find these urgent sellers? We’ve been mentioning this a lot in all of our Wholesale Real Estate For Beginners guides. In fact, there are a lot of ways to find them. You can go to your county court and find public documents or records, the super common bandit signs. Click here if you want to go into detail on this point.
Can I Get into Trouble When Wholesaling?
Of course, you can get into trouble! There are several ways you can get yourself into trouble, but I don’t want to put any scares on you because if you get well educated in some critical aspects, there’s nothing to be afraid of.
For instance, one of those ways is making sure there is no loophole in your contract and that every clause used is in your benefit.
Wholesale Real Estate For Beginners: Real Estate Wholesale Contract and Addendums
Initially, a good contract must contain certain information to guarantee the wholesale transaction is performed the right way for all parties involved. It must be crystal clear about its intentions and present all clauses to favor you.
What your Wholesale Real Estate Contract Must Have
Each case has its peculiarities. In this Wholesale Real Estate For Beginners free post, we’re leaving a clear idea. Generally, you can’t miss out on the following info:
- Names and signatures of all parties involved.
- A full description the property along with its type and address.
- Other goods included in the sale price (articles and fixtures other than the building and the land).
- The purchase price, deposit, and financing terms, as well as a description of where deposit money is held, and of the financial terms for the payment (cash payment? Other form?).
- Describe the conditions of the property to be presented to the buyer
- Inspection contingencies: this allows the buyer to perform an inspection in case the afore mentioned conditions are not met and even back out of the deal.
- Risk of loss and damage: Protects the buyer in case any damage occurs to the property while under contract.
- Disclosure about lead-based paint.
- Set the deadline for the closing date.
- Confirm the type of deed to be delivered.
- Marketable title. This allows to reject the purchase and refund the deposits in case the seller is unable to pass title or the buyer is unable to obtain title insurance.
- Adjustments: modifications for taxes, water, or sewage (vary from one state to another).
- Common Addendums. These are other forms that go along with the contract.
- Seller’s and buyer’s default clauses, stating their rights to defaults on the terms agreed on the contract.
This road is not too long, not too hard, and everything you need is right here. After all, it’s all about wishing to success and all the knowledge you need in the screen in front of you. Educate yourself and make of this the time to change your life!