A real estate wholesaler is a lot like a matchmaker. Instead of pairing a boy with a girl a real estate wholesaler pairs a property seller with a property buyer. You are the middleman facilitating the contract between 2 parties. A wholesaler often gets paid a finder’s fee and can even make a percentage at the closing depending on the deal you broker. This is called a wholesaling fee. Wholesaling deals may be the way you enter in to the property investing market.
Benefits:
- You don’t need any money to get started.
- You can make quick money.
- Low financial risk, time is your biggest requirement.
- You can start wholesaling while still working somewhere else.
Drawbacks:
- You must know the legal way to do this.
- Income can be irregular. You only get paid when you get a contract closed.
- It is not necessarily easy.
- It can be tough finding buyers and sellers.
A wholesaler finds under market value properties, negotiates deals with the sellers and then looks for cash buyers. You must be good at networking if you want to make it in the wholesale business. Since you never really buy a property you don’t need a good credit score. You just need to be organized and have a list of potential buyers.
Have you always been interested in Real Estate but wanted to know more information before diving in. #Ironclad
Key Points:
- 1Real estate wholesaling is a process through which an investor assigns a property contract from a seller to an end buyer.
- 2An advantage to wholesaling is you get to be your own boss.
- 3It is important to know the preferences of your buyers. Do they want a turnkey property or are they willing to rehab.
See the original at: https://www.fortunebuilders.com/the-pros-and-cons-of-real-estate-wholesaling/
