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How to Wholesale Real Estate for Fast Cash
by Lesley Wilson

There are about as many ways to make money in Real Estate as there are investors. Of course, there are those methods we always hear about, but don't always believe. Is it the late night infomercial stuff, is it flipping houses? Can you really make money without even owning a property, or only owning it for a very short time? Of course you can! You need some education, but can start this type of business without being a total real estate expert. If you have read any of my other articles, you know I believe holding investment property is a great way to build wealth, and if done right, can bring in a good income, while building equity. Many investors live in areas where it is not as easy to cash flow their rental or lease option properties at a rate that is sufficient to pay the expenses on the property, or need more income to supplement rental income while getting started. Wholesaling is a great way to quickly increase your income. You can easily make $3-5,000. or more, on each property, depending on the quality of the deal. Your income is only limited by the deal you make. If you get a good enough deal, you may be able to sell it for $20,000, $30,000, even $40,000 or more, over the price you paid, or contracted to pay.

How do you start the wholesale business?

1. The list: Find your customers. In any business, a list is very important. You need a list of potential customers, investors looking for a deal. You can find these investors in a number of ways. * Go to your local Real Estate Investment meetings. There will be many investors there looking for their next deal, and many new investors looking for their first deal. Find out what areas and types of properties these investors are looking for. * If possible, join a networking group. This will help you find deals and customers. * Call the investors who place signs out. You know the ones you see everywhere: "I Buy Houses". Find out what they want, and if they buy wholesale deals. They may even have a deal you may want to buy. * In my area we have a lender with a great list. If we have a property to sell, or are looking for a property, we can send an email, and he will send it out to his very large list. Find out about lists in your area by asking at the real estate investors meetings. Sometimes the Investment groups have great email lists you can use, once you become a member.

2. Find the Deals: Marketing the area- To find motivated sellers, you need to market to them. There are many ways to do this, and using multiple avenues is the best way. Pick an area, and then try some of these ideas to market to sellers. : * Signs- Use the "I Buy Houses" signs. They work. * Ads in newspapers. There is a lot of competition in the large papers, but try local papers. I have found good results with these and little competition. * Church, or association newsletters * Flyers-have these delivered door to door, or use direct mail. * Postcards-use good marketing pieces, and keep hitting the same area over and over. You will be looked at like the expert in your area. * Call the other investors with the I Buy Houses" signs. See what kind of deals they have. Some may be what your customers are looking for. Make a deal . . . . * Talk to agents that specialize in your area. Make sure they know you can close fast and buy the homes in "as is" condition. Learn to pre-screen the callers before you go running all over town to look at homes. Many callers are not motivated enough to really make you a deal, they want to sell you a home at a regular retail price. Remember: you can buy homes at full price all day, any day. You only want the deals!

3. Make Offers: You won't buy any homes if you don't make offers, so make sure you make many every week. Don't be afraid of offering very low. Use contracts that are designed to keep you safe. When you find the deal, go back to your list and find the right buyer. If your deal is good, it shouldn't be hard to find someone who wants it.

Of course there is a little more to it than I can put in a small article, but it really is this easy, and almost anyone can learn to do it in a relatively short time.

4. Study: Like I said before, you can do this business without much real estate education, but I would suggest you learn everything you can while you start working it. It will make you a better investor, and much more confident.

Have Fun. Life is Short . . . . . .

Lesley Wilson is a Real Estate investor, a licensed Real Estate agent, and has also worked in the Title Insurance industry for many years. She has been investing, and helping others invest for over 30 years. She is dedicated to helping others find financial freedom through Real Estate investing, and providing them with all the Real Estate Resources they need to be successful.


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