Wholesaling for Quick Cash: Real Estate Investment Tips
Wholesaling for quick cash is becoming one of the most popular types of real estate investments. Wholesaling real estate involves purchasing properties below market value and reselling them for profit.
In a sense, wholesaling for quick cash is similar to house flipping. The primary difference is investors do not make repairs to the property. Instead, they sell the home in ?as-is? condition to another buyer. Wholesaling is a relatively risk-free investment opportunity. However, investors must be astute about the process of wholesaling real estate properties.
Multiple options exist to develop wholesale deals that benefit all parties involved. Nearly anyone can become involved with this type of real estate investing practice. In many instances, wholesaling can be accomplished without investors ever spending a dime of their own money. The secret to success in this investment niche is networking with other investors and real estate professionals.
Before venturing into the world of wholesale real estate, investors should become educated about the strategies involved; develop an investment plan; and begin networking with prospective clients and partners.
Investors who participate in wholesaling for quick cash are essentially real estate matchmakers. First, investors locate homeowners who are motivated to sell their property for less than it is worth. Current economics have made this a relatively task.
Many people need to sell their home quickly to avoid foreclosure or satisfy a short sale option. Others own second homes they can no longer afford. Real estate held in probate can oftentimes be purchased below market value to relieve financial burdens from a decedent?s estate.
Scope out properties listed as ?For Sale by Owner?. Homeowners often engage in FSBO to avoid paying real estate agent commissions. This allows property owners to reduce the purchase price. Some FSBO homes are in pre-foreclosure and investors can attempt to purchase the property under a short sale agreement. These are just a few of the possibilities of wholesaling for quick cash.
After locating sellers, real estate investors need to place the property under contract. The most common option is to utilize seller carry back financing. The property owner acts as the lender and carries the financing until the buyer is able to obtain necessary funds. Seller carry back mortgages generally extend three to five years. With wholesaling, transactions occur more quickly.
Wholesale real estate eliminates the costly expenses associated with house flipping. Investors do not have to invest additional money into the property for repairs and renovations. They simply need to locate a seller and a buyer who have properties and interests that match or purchase properties which can be sold quickly.
A variety of real estate wholesaling courses and information are available online. Realize much of what you need to know can be located at no charge. Don?t fall into the trap of buying multiple wholesaling real estate courses.
Take time to learn who is credible and who to avoid. This can be accomplished by visiting real estate investor forums and networking sites. By becoming educated about wholesaling for quick cash, you can create a successful real estate investment business.
Interested in wholesaling for quick cash? Successful California real estate investor and author, Simon Volkov, offers a wealth of investment opportunities and information via his website at www.SimonVolkov.com. Subscribe to Simon?s complimentary Investor?s List and be the first to receive hot investment opportunities.
Source: http://eboden.org/?p=5606
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