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Creative Real Estate

by abelamorales
2 replies
  • OFF TOPIC
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So I met someone a few years ago that purchases foreclosed homes, rehabs them, and then resells them for a decent profit.

I am a firm believer that real estate is where the 'money is at'. He mentioned a method called, 'Wholesaling'. Basically, it's when buyer A negotiates a property (in this example) for $30K with an After Repair Value of $100k. Buyer A has the right to assign the property so he sells the contract to investor A and is out of the deal.

Does anyone have much knowledge about this? Does anyone on this forum invest in Real Estate? I'm interested in learning more about it.
  • Profile picture of the author bearthreads
    Wholesaling is a real investing technique. It involves driving alot of traffic to you and digging through it to find the desperate sellers. You have to find AMAZING deals to make money while the actual investor actually makes money too. The deals exist but they are typically in the bad part of town. People use bandit signs to find both sellers and buyers. My experience is that your typical seller does not really use the internet and would not be searching for a buyer so your seo skills may not make a difference in finding the sellers. You have to hit the streets. There are several good youtube videos on it. If you are just getting started with it then I would consider "bird dogging". Where you find the properties that may work, give the info to a wholesaler or investor who actually negotiates the deal. It is the least stressful way to get your feet wet in real estate.
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