How do I start real estate wholesaling?

[Susan06]

As someone who is a newbie looking into the whole space of the real estate world i was wondering how does the wholesaling of real estate really work out and how would one want to start in this whole endeavor.?

 

[Walikirito]

Well if you're new it would be best if you'd go for an apprenticeship with someone who has been in the business for at least 10 years and understands some trends this whole field can accompany with it.
But here are a few steps you can take for it.

Research your local market before getting started.
Curate a buyers list for your area.
Secure a financing source that works best for you.
Begin searching for potential wholesaling properties.
Decide whether to sell the contract or work on a double closing.

 

[Andrew]

Find a motivated seller! The best way to find motivated sellers is through networking, the more people you know, the more likely it is that you will be able to find a motivated seller.

Send them a letter. It's time to start writing letters. You can approach the seller directly (either on the phone or in person) if they seem like someone who would be likely to work with you on a transaction but for most people, you will want to try a letter.

Set up an appointment. This will not only allow you to speak with them in person, but it will also give you more time to ask questions and help ease their concerns about selling their home quickly.

Now show the home to an investor, negotiate price, close on the property, and repeat!

Try this calculator: House Flipping Calculator & Rehab Analysis