| Learning how to wholesale houses is not an easy feat, but a basic understanding of the what’s and how’s would give you a good kick. Wholesaling houses is usually preferred by people who do not want too much fuss in selling houses – that is, unlike house flipping where you have to fix the house before you sell it, wholesaling saves you the trouble of house rehabbing expenses and just go directly to the sell.As easy as it may sound, the catch here is how does one purchase something and sell it right away and profit from it when nothing is done to make what is being sold very competitive in the market? To understand how wholesaling houses works, here are some of the things that happens in house wholesaling.
One – You find a motivated seller (a.k.a somebody who is so willing to let go of their house and would agree to have the house sold for a much lesser price). Let’s say, the owner is relocating and wants to dispose of the old house but got no time to do it. So here you come in and offer to buy the house. Originally, the house can be sold in the market for $150,000. However, you offer to buy it for $70,000 dollars. The owner might try to negotiate for a much bigger price. It’s okay as long as you do not make it too much that you can’t sell it any more to somebody else and that the house is not too much in a bad condition. Two – Now, you got a $150,000 house that you bough for $70, 000. You have something to sell, the next thing that you need is somebody interested to buy it. In this case, you could sell the house for $80,000. A lot of prospect buyers would be very interested to get their hands on this property, even if they have to do some minor repairs to it. Three – When you do this wholesaling houses, be very particular with the the duration between the buy and the sell. Do not keep the property too long or you will end up spending for it. The best way to do this, if you can, is to be able to do the buy and sell in a margin of hours or a day. In this way you will save yourself the trouble of having to worry spending on what you thought to be of a good, expense-free investment and be able to earn much in a course of one day. There are still more tricks of the trade that you need to learn about wholesaling houses but these simple 1-2-3 how to’s can help you get started. Terry Wygal also known as The Quick House Buyer, has been teaching real estate investors how to wholesale and flip houses for several years now. Terry also teaches real estate investors how put your website on the front page of google and crush your competition. |
How To Wholesale Houses: The Basics
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