You hear that? You hear the rumors? Wholesale real estate is DEAD? Have we seen the end of this profitable trend that has taken wannabe investors by storm? It has been the perfect method for the one who is interested in real estate so that they can get started without much risk...but you can't take risks if there isn't opportunity. Correct? Wholesale real estate...are you really dead?
When I first got involved in real estate, it was very feasible to put in 10 to 20 offers on the mls and land one deal where you could put a house under contract and assign it for $30,000-$50,000. I bought inside of a program that taught this and they were getting testimonials every month. Unfortunately it took me 2 years to close my first deal (no thanks to the program) and I never created this type of testimonial, but those deals are still out there!
I know someone who just closed on a $30,000 wholesale deal last week. Is it a needle in the haystack? Yes. But how are you going to find the needle without marketing and making offers!
Many people are focusing on the wrong thing during this market. Since there are a ton of investors out there who need properties and there is a lack of inventory to choose from, the investors who need properties will flock to your deals once you get them since there isn't much to choose from. They will also pay you top dollar because they are drooling to find a profitable deal that they can flip. You now have become the savior of your market if you're able to produce these results.
“Well there aren't any deals in my area” (as you talk out the side of your mouth). I hear ya. See, you didn't know I was psychic did ya:)
I will be honest and tell you that every market is not a good wholesale market. Some areas are best to find deals to do a lease option deal where it can be done in a similar fashion of a wholesale deal, and other markets are strictly a renter's market where investment properties is the best thing to do.
If you're in this scenario, do a quick analysis of areas within 50 miles of your location to see if conditions are better for wholesaling real estate. You can even do virtual wholesaling in other states. The money and PROPERTIES are out there! You just have to find them.
The fact is that the term “wholesale real estate investing” is now a household term. It is no longer a secret that the gurus keep for themselves because all of the gurus who are trying to make money on their programs have been the ones responsible for teaching wholesaling! How do you gain a following? Tell everyone's secrets! This is what the gurus have been doing for the past 5-8 years in this sector.
As the market has been changing, investors have found it a little more difficult find these hot $20,000 wholesale deals, let alone the smaller $5,000 wholesale deals. But does that mean the technique doesn't work? Is wholesaling dead just because there are fewer deals than there were 5 years ago? The answer is NO!
I am still wholesaling homes to this day. Many of you know that one of my claims to fame is that I am a professional real estate coach and wholesale expert. That doesn't mean that I'm a one trick pony because I have a nice piece of investment property of my own and I plan on picking up another here very soon. I've also been successful at putting together other types of real estate deals, but learning how to wholesale houses has been my bread and butter for some time now.
If there is one thing I have learned in my years of living thus far, it is to never dictate your life based on what other people say and predict, especially if they are not involved in doing what you are doing. These individuals are master at nothing but gossip. Take your imaginary scissors ad cut them off! Other gurus and media will tell you the ability to wholesale properties is non-existent. These individuals have to tell you this so that you can continue to purchase there products and watch their news channels as they ravel out a new program that is set to be released in the next 30 days. Don't fall for the trick.
Look, the whole purpose of this blog post is to let you know that you have nothing to fear. Are the deals as abundant as what they used to be 5 years ago? No they are not. The way I see it is that this weeds out all of the tire kickers and leaves the cream of the crop (people like you and I) to make all of the deals and create big profits for our bank accounts. Even if you're not focused on wholesaling real estate, it should still be a method that keep in your pocket. You never know when your money will be tied up as an investor, and you need to make some fast capital to release the strain on your funding and finances.
If you need business funding so that you can consistently close more deals like a mad-man, check out this video so that you can see how this CEO is giving small businesses up to $150,000 in business funding. If funding has been an issue for you, this is the answer. You can thank me later:)
I also have 30min to give o you to answer your questions about anything having to do wit wholesale real estate. Whether it is your business, or you want to get started but you don't know how. We'll draw up a nice gameplan for you to get you started. By the way, this is a free service to help you on your way.
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