i have wholesaled (or bought/sold on the same day) 8 properties this year, grossing about 75k. and i’m only in q3 right now. if you’re interested in learning about what i do or how i do it, ask me. i have been doing this for a little over 2 years. this has been my best year so far. let the questions begin. edit: part of the reason i’m doing this is that i made 20k this week wholesaling 2 houses. i can’t really call up my friends and family and say “hey guys! i made 20k this week in about 5 hours of work!” without sounding like a total asshole. that’s more than most people make in 3-6 months. but i figured i could share it with you guys anonymously without sounding like a braggart. and maybe i can help you do it, too. edit 3: this has been pretty popular. if you have a question, ask it on here. don’t pm me. that way the answers might help everyone who has the same question.
in fact, it can be tricky to navigate and often comes with a hefty price tag. if you really want to make money in real estate, but just can’t fathom the idea of saving up all that money and dealing with the purchase process, you still have several options. in retail wholesaling, the wholesaler sells a large quantity of goods to a retailer, who repackages and sells it to consumers at a much higher price. in this strategy, the wholesaler contracts a home—usually one that is distressed—with a seller, shops that home around to potential buyers, and then assigns the contract to one of them. one of the best things is that you don’t need to take a course, pass an exam, or get a real estate license to become a wholesaler.
he assigns the contract to this investor, who then has a profitable fixer-upper project. he agreed to contract the house out for the homeowner to an interested party. and it doesn’t hurt if you have a network of investors at your disposal who may be interested in buying the properties you wholesale. real estate wholesaling is similar to flipping in a lot of ways. and the wholesaler does not make any repairs or modifications to the home. success depends on the wholesaler’s knowledge of the market and connection to investors for quick sales.
typically, wholesaling real estate (as well as flipping houses) is considered buying and selling inventory (not investing), so you’ll pay ordinary income taxes i lock them up for great discounts, and then assign my rights to the contract to another real estate investor for between $15-20k. try the house hack route. buy a 2-4 unit property with an owner-occupant mortgage. rent out the other units. rent out a bedroom in your unit if, wholesaling 2021 reddit, wholesaling 2021 reddit, wholesaling success stories reddit, is wholesaling worth it 2022 reddit, real estate wholesale contract reddit.
in theory, it’s a great idea. in the real world, not so much. your success depends upon your ability to locate desperate homeowners and then they get your house tied up under contract, then find someone to buy it for a higher price and the so both closings at the same time. first off, congrats. make sure you have a smart title company, sound contract, and don’t let a buyer try and “nibble” on your profit margins., virtual wholesaling real estate reddit, wholesale real estate script reddit, best wholesaling course reddit, wholesaling real estate horror stories, wholesaling stories reddit, how to wholesale a house reddit, first wholesale deal reddit, reddit is wholesaling ethical, wholesaling real estate 2020 reddit, is wholesale real estate legit.
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