Wholesale Real Estate Investing For Beginners
I wanted to give a brief overview today on real estate wholesaling and how you can start wholesaling houses in less than two weeks. Some people might refer to this blog post as a “beginner’s guide to wholesale real estate investing,” although it’s meant to be more of a question and answer type forum.
What Is Real Estate Wholesaling?
Real estate wholesaling is nearly identical to flipping houses, except you (real estate wholesaler) will be flipping a legally binding contract instead of a physical piece of real estate property. Here is how it works: a real estate wholesaler agrees to purchase a piece of property from a seller. Once the buyer and seller have mutually agreed upon a sales price, the buyer (wholesaler) and seller enter into a legally binding purchase contract. At this point, the real estate wholesaler reaches out to other investors and assigns the contract for more money than the original agreed-upon sales price.
Where Do I Find A Wholesale Real Estate Contract?
First and foremost, I am not an Attorney! I am a full-time real estate investor and licensed real estate agent in the state of Ohio that happens to make a good amount of money by wholesaling real estate & flipping houses. Moving on, one of the most discussed topics pertaining to real estate wholesaling is, without a doubt, “Wholesale Real Estate Contracts.”
Two of the most often asked questions I get from new real estate wholesalers include:
- Where can I find a wholesale real estate contract?
- Can you send me a copy of your wholesale real estate contract?
If you’re new to wholesale real estate investing, you’ve either asked yourself or someone else one of the two questions above. Here is my answer to both.
- You can find a wholesale real estate contract almost anywhere online by performing a simple Google Search. With that being said, with the amount of wholesale real estate deals I do every year, I would never risk my business by using a generic wholesale real estate contract. My recommendation is to do the same thing I did, which is contact a real estate attorney in your area and spend $200-$300 to have an attorney draft a legal contract that coincides with your state laws.
- Generally, I only share my wholesale real estate contract with my students, business partners and those I mentor.
How Much Money Can I Make Per Year Wholesaling Real Estate?
This is also a question I get asked a lot and I always answer the same way, “You will get out of wholesaling real estate what you put into wholesaling real estate.” Let me put it to you like this, if you work two hours a day trying to find and sell wholesale real estate deals, you’ll never make it in this business. The people I see making over six figures wholesaling houses are grinding everyday. I work with young men and women 18, 19, 20 years old that easily make $100,000 – $175,000 per year wholesaling real estate. Not to mention, once a person starts successfully wholesaling real estate, you’ll notice they generally move into other niche real estate investing avenues and start to generate multiple streams of income.
I’m Interested in Wholesaling Real Estate, Where Do I Go From Here?
If you have aspirations of learning how to wholesale real estate step by step and eventually becoming a full-time real estate investor, please start by entering your email HERE. Once you’ve entered your email address, you will receive an invitation via email to my Five Day Crash Course. Once you’ve successfully completed the “Five Day Crash Course,” you’ll be ready to complete your first wholesale deal. If you’ve already completed one or more wholesale real estate deals and feel you’re ready to take it to the next level, you may want to take a look at my coaching/mentor program.