Wholesaling

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What is Wholesaling

Wholesale real estate is a vibrant industry and controls a large percentage of all, real estate transactions. The stimulus for generating wholesale real estate opportunities is finding motivated sellers, fixer-uppers, pre-defaults, and REOs. Despite what mass-media advertisers say, researching distressed properties takes work. Oftentimes, knowledge about regional and local market areas coupled with the desire to perform footwork in specific neighborhoods can mean modest success for most. A motivated person who is versed in real estate finance, laws, history and trends, can profit from selling and/or marketing rehabilitated properties ethically and legally.

The real estate wholesaler may be doing the motivated or distressed seller a favor by purchasing his or her property. Several personal scenarios may cue the seller to aggressively sell his house. The seller may be motivated because of a job transfer. Or, the seller may have missed a couple of house payments and needs to sell the house fast before the lender or bank sends him a notice of default. The seller may not be interested in making an optimal profit. Most wholesalers know happy to accommodate the seller and work through a mutually satisfied agreement.

The realistic wholesaler is willing to make modest profits from turning multiple properties to investors/ buyers. He realizes that a 6% profit on a property sale, which is the difference between what he paid for the house and what he wholesaled it for, is just fine.