Author: Dennis Hurt
Source: ezinearticles.com

How to make money Wholesaling for beginners

Hello All,

Thanks for taking the time to check out how to make money in Real Estate for beginners. Let me start by saying this is not some get rich quick plan. If you want to get rich quick buy a lottery ticket. The majority of the wealth in this country has been created through Real Estate.

I am sure you are thinking but, I don’t have any cash or credit. Although having cash and good credit helps you get started in Real Estate, it is not a necessity. We all have the same 24 hours in a day, yet some people seem to always get so much more done in the same 24 hours than other. If you don’t have credit or cash you do have the two most important items needed to get started in real Estate. They are Time and Information.

That’s right all you need is Time and Information. Let me explain, since you don’t have credit or cash to just go out and buy your first property, you will have to be a little more creative.

One of the easiest ways to get started in Real Estate is wholesaling. Wholesaling is when you go out and you take the TIME to find deals that would be appealing for investors to buy. The best way to get started is to go out and look for vacant houses. Although this is very time consuming it is the easiest way. There are many tools you can use to find these deals. I will get a little more detail on how to specifically find deals in a future post. But, for now lets just say you have found a great deal that you think an investor would want to buy. How do you go about finding investors to buy your property?

There are many ways to do this but, here are a few I recommend. First go to www.nationalreia.com and find the nearest Reia (Real Estate Investors Association) in your area. When you go to these meetings introduce yourself and let everyone know you want to get started in Real Estate and you have decided to get started by wholesaling. Bring with you a sign up sheet for your buyers list. You will want to get names and numbers of as many Investors as possible. It would also be beneficial to take the time to meet with them for lunch some time. There are several reasons for this. You can define exactly what style property they are looking for. You can use them as a resource to answer questions and make suggestions on how to get your wholesaling business started.

Just to review, first you go out and you find great deals and get them under contract (I will cover contracts in a future post). Then you go build your buyers list.

After you have done this it is time to make the sale. This is where detail is important. You want to be able to give your Investor as many details about the property as possible, for example, location, price, bedrooms, baths, ARV (After repair Value), repair list, etc.

This is the time when you want to be the most aggressive. You need to market this to every possible outlet (Reia, Print, Online, Etc.) In future post I will give some examples of the best marketing techniques that have proven effective.

So there you go. This is an outline of how to get started in real estate with no cash or credit. Feel free to comment or email and questions or topic suggestions you may have. I wish you all tremendous success and remember don’t give up. If you want it bad enough you will figure out a way.

“Necessity is the mother of all invention”

I hope you enjoy my articles. Please keep in mind that I am new to writing articles. I am using years of experience in Real Estate Investing and The Automotive Industry to help other people with less experience benefit from my knowledge.

To Our Success!

Dennis