It has been over eight years now since I have been in the real estate business. During this time I have learnt to specialise in the wholesaling field and as a result have been very successful.
My success comes down to various factors. One of the most important is having a large number of contacts of investors that are interested in buying contracts. I have always aimed at shifting properties as quickly as possible within a time frame of about 45 days. This has been the main reason behind my success. As soon as I buy a property I try getting rid of it as soon as possible. This ensures that I end up seeing a good profit.
One of the other factors that play quite a large role in terms of my success is doing adequate research. I make sure that the send a legal letter of intent that does not become active for a couple of days. This allows me to inspect the property fully by getting professionals involved as well. It is important that you consider the property in terms of it self and the current market as well as the neighbourhood. All of these things are known to play a major role when it comes to making a good profit. You need to make sure that you take enough time in terms of research. Also I make sure that I take some realistic views in terms of the expenses that I may incur in the whole process of reselling.
The problem with the current real estate business is that there are not enough professional wholesalers. Most of the students that take courses in this particular field are known to simply drop out after a while. They simply learn a few things, go about trying to whole sale properties and as a result end up finding themselves with no money left. Most of the people that claim to know about wholesaling are more to teach you about marketing rather than anything else. This as a result really does not help you in the practical world.
Before you can develop a list of credible investors, you need to make sure you know what you are doing in the business. Only then will they trust you and your advice. Seeing that there are large payouts, many just want to get down to earning the money. To be honest, you need to take the time and effort on your behalf before you decide to go ahead with anything else. Only this way will you be able to see your self being successful.
The guide to getting investors and rehabbers
Make sure you take this tip into serious consideration.
What you have to do is quite simple. Simply go to your local store and pick up the local newspaper. Fast forward to the real estate section and you will be presented with various houses for sale. 89% of those houses are known to have investors who have previously bought the houses and are now selling it.
Simply contact them telling them what you do. Start of by telling them a bit about your self then talk about how you deal in wholesaling. Make sure you mention that you can get them a good discount as well. This will lead you to make more contacts which later on will result in a long list.
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