One great thing about wholesaling real estate is that you don't have to take ownership of the particular property. Once you located the property and have it under contract, you assign the contract to another buyer who will then close on the property in your place. Generally there are no risk, and you can do it with little or no money down. That of course depends on how the deal is structured.
Some investors use the term 'wholesaling' while others refer to it as 'flipping'. Regardless of the term you use, the bottom line is the same - you can make big bucks from property you don't own.
Buy Real Estate: Getting Started
First, you need to understand the basics of real estate. Everyone knows something of this industry and may have preconceived notions about what it is all about. Real Estate investing can be a very rewarding business but it can also be very frustrating. It is not for everyone and whatever the level of expertise you bring to the table, make sure you do your due diligence along the way.
Surf the net using keywords such as 'beginning real estate', wholesale real estate, etc. Read what the experts have to say about getting started. Be aware that not all of the sites you hit concerning this subject are actually about our topic - but that's not bad. You get to see what you are about to jump into. Some sites are about getting you to sell property or buying their properties. If you prefer a book in your hands to read over lunch in the park, or at the hockey rink, wherever, go to your favorite bargain book store and grab a copy of 'Real Estate for Dummies
', or 'Real Estate Principles'
. Again you could cruise out to Amazon.com or Barnes & Noble (bn.com), they will have these two and many other opportunities. Just make sure you get a good foundation of understanding under your belt.
A strong suggestion here is to connect with an experienced investor. Reading is great for understanding the layers - but hands on knowledge from someone already working that beat can make it smoother. Right, wrong, what to say, what not to say. That individual has already done all of that and more. I have a partner that is such a person, mentoring me along the way.
Surf the net using keywords such as 'beginning real estate', wholesale real estate, etc. Read what the experts have to say about getting started. Be aware that not all of the sites you hit concerning this subject are actually about our topic - but that's not bad. You get to see what you are about to jump into. Some sites are about getting you to sell property or buying their properties. If you prefer a book in your hands to read over lunch in the park, or at the hockey rink, wherever, go to your favorite bargain book store and grab a copy of 'Real Estate for Dummies
', or 'Real Estate Principles'. Again you could cruise out to Amazon.com or Barnes & Noble (bn.com), they will have these two and many other opportunities. Just make sure you get a good foundation of understanding under your belt. A strong suggestion here is to connect with an experienced investor. Reading is great for understanding the layers - but hands on knowledge from someone already working that beat can make it smoother. Right, wrong, what to say, what not to say. That individual has already done all of that and more. I have a partner that is such a person, mentoring me along the way.
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