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Wholesale Real Estate

How to Wholesale to Millions in Real Estate

Today we talk about setting our business plan up to Wholesale To Millions. Our goal is that our students can learn the art of wholesaling using our strategy and technique. This will set the foundations to let us make a 6-figure income. The sky is the limit, so let’s get started!

There are a couple of things you must do to keep your wholesaling career running smoothly. Also, these basic steps will help you get protection against any bad scenario you may think of. Having an organization is key to protect your personal assets. Make sure you follow the next steps to build a shielded, champ business.

1.      Set up LLC Entity

An LLC, or Limited Liability Corporation is the initial shield to protect you against any sue, claim or legal issue that may arise along the way. First you have legal protection, so you never take a deed in your name. This LLC becomes your “corporate umbrella” and your liability – assets at risk – is limited to what the LLC owns.

This is also a great tool for wholesaling on non-assignable. These legal claims could easily harm anyone with no veil. In your case, they will have to penetrate the corporate umbrella when they try to get you. Having and LLC will also help discourage needless lawsuits, as they can anticipate the results (in your favor).

Where do you get a legal LLC?

  • Come up with a name and check for similar names or restrictions.
  • You can hire a lawyer, a tax CPA, visit websites like legalzoom.com, or simply hire one of our professionals to get it done for you!
  • Your state will have an LLC that has a filing fee. It is commonly around $400-$500.
  • Then, get your EIN. This is like a Social Security number for your business. This is free, takes around 10 minutes to be done, and you can even it do from your phone.
  • Open a business checking account.
  • Get a team to help you keep it all legal: Get a bookkeeper, an accountant, a tax adviser, a CPA, an attorney, or this one handy person that can do it all for you in a few hours a month.

2.      Set up DBA under LLC

Now you must make a presence. This starts by visiting your county court offices and get your DBA under the LLC. DBA, the acronym of Doing Business As, will allow you to perform business activities under your LLC name. it only costs $13 and will save you  good money on taxes when you buy any supply for business activities.

You must select a DBA name that also works for your future domain. Make sure it is built with 3-4 words that are short and easy to remember, check some domains available, take them to court with you and select the one you can (not taken). Also ensure you invest in a reliable .com domain.

3.      Set up your Website

Wholesale to Millions in Real Estate - Wholesale Real Estate

Having a website will do two important things for your business. First, it will give you credibility. And mostly, it will help you generate leads. A good website will help you find candidates to cover the first layer in lead generation. Those leads you will then include in your email campaigns or contact and filter until getting your clients.

4.      Set up Vanity Phone

A vanity phone number is a custom-made set of digits that either spell out a word or are memorable in some way. In this case, you want to make sure it is simple, and something related to buying homes. You can hire this service for as little as $10 a month. Any call directed to your vanity phone number will be redirected to any personal/office number you select.

This will allow people to remember your number and increase you lead generation tools. It also helps your business have a more professional look. In this trust game, where people get involved in one of the biggest transaction of their lives, you must do anything you can to gain you client’s trust.

5.      Set up your brand

Start creating all your brand image. You need a logo for your social media, your website, your business cards, and everything. Use letters, images and even a professional picture of yourself. My recommendation to help you find a high-quality logo is opening a contest on freelancer platform. You will have tons of options to choose from. Make sure they show integrity, are clear and trust-worthy, describe well what you do.

After all this, you’ll be ready to go and start your professional path in real estate wholesale.

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Wholesale Real Estate

Wholesaling Real Estate For Beginners – Virtual Wholesaling & Lead Generation

Today we talk about Wholesaling Real Estate For Beginners.  Wholesale real estate flipping houses will earn you a 6-Figure income and the best part is you do not need any money to get started. Learn from a real estate broker with 15 years of experience in Wholesale real estate flipping houses.

What Is Wholesaling Properties?

In a nutshell, wholesaling means we put a property under contract, and we sell the rights to an investor for profit.

How To Find Super Cheap Homes to Sell?

Just because a home is in the market for a price, it doesn’t mean that is its real worth. It can be more or less. You should master your farm area; you have to know the market prices of the area you’re working on so you may know what truly a right value for every property for sale is. Commonly, your proposal to the seller will go from 50-70% of the real market value for that home.

Why can you place such a low offer? Because the property is being sold as is, repairs or renovations are often needed, and sellers are motivated to sell fast. So your job as a middleman is to find a property, analyze it, and propose a selling price that allows you to offer it for a higher value and thus you and the end buyer will make profit.

How Much Money Can We Make On A Wholesale Deal?

Wholesaling Real Estate For Beginners make money

There is no one unique answer for this question. This will depend on each person’s performance, abilities, and dedication to wholesaling. But in order to give you an idea, I calculated an average of earnings from 2015-2020 from my students and myself. Here is how it turned out:

  • Minimum profit: $2,887
  • Median profit: $8,922
  • Average profit: $12,383
  • Maximum profit: $26,991

All these numbers are great! Who would love to at least start making the minimum? This is what you could be doing, this is what you can expect in this business. My recommendation is: if a deal won’t get you at least this minimum profit, don’t take it. There are tons of homes, tons of sellers and tons of buyer, and there’s a lot of time and effort behind each transaction so make it worth!

I can also tell a fabulous story about a commercial land deal with a giant profit (not included in the previous calculations) of $127,323. This fantastic deal is a living proof that in wholesaling, sky is the limit!

Wholesaling Real Estate For Beginners Requires Money?

Not really. You can start with just time and hard work. It may be a little rough but never impossible. And after your first couple of closed deals, you can invest in advertising, office  supplies, marketing, signs, and stuff like that to improve your presence and thus your profits.

Do You Need A Real Estate License To Wholesale?

No!

Wait! Are you waiting for a longer answer? You could instead start your way into wholesaling but ok, here it is.

It is not necessary to be a licensed realtor to wholesale properties. In fact, being a realtor can be seen as a drawback in wholesaling because you:

  • will have a higher level of fiduciary responsibility
  • must be extra careful and disclose any license information clearly.
  • should get your broker’s approval
  • must split your earnings with your broker.

It would be helpful to be familiar with the home buying/selling process and contracts, but this is something anyone can learn, and no assessment is required.

Is Wholesaling Real Estate For Beginners Difficult?

Absolutely not! Focus on staying out of trouble and making a lot of money. There are risks! Of course! A bad contract can get you sued; can make you lose money. You’re dealing with real  people’s money and lives as well. And that’s why training is a need. Make your decision of becoming a real estate wholesaler an informed decision. Don’t simply jump out to the market and start the process.

Make sure to find and grasp quality and relevant information about wholesaling in your location. You should feel confident of every step you take, knowing what you’re doing is right for every party. The rest of the process is not too different from any other real estate transaction.

The Right Mindset Will Take To From Zero To Millions

Again, when you have the confidence of what you’re doing is right, that you’re doing a great job, that you’re acting with integrity, when you put your time and effort in the right place, the universe will respond with its best answers.

There is no reason to fail. You have everything you need to start making money in front of you!

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Wholesale Real Estate

Getting Started in Wholesale Real Estate – Training Courses

In this lesson, we will talk about How to get started, and what is Wholesaling Real Estate, how to find wholesale deals, where to find sellers, and how to work with investors. In this lesson, we will be also talking about closing the deal now and making sure the contract is written for your benefit. We will eliminate all loopholes so that you can close the deal down.

What is Wholesale Real Estate?

Wholesale real estate, it’s such an easy way to make a lot of money without any money at all. But you can get yourself into a lot of trouble as well. So, you better make sure to learn from the best coaches out there. In brief, real estate wholesaling is the process of finding a deal and passing it along to an end investor.

How is Real Estate Wholesale done?

Well, your job is finding a distressed property with a below market value, get it under contract to then sell it to the end buyer for a higher price. This way, you can make a profit investing little to zero money!

Wholesale real estate both in houses, residential and Commercial can be done in Most states without a license.

How To Find Wholesale Deals?

getting started wholesale real estate how to find deals

Here I’ll show you some of the best tactics I’ve used to find great deals and personally recommend when Getting Started in Wholesale Real Estate:

  • Navigate your market area looking for distressed properties. Why? Easy! A home says a lot about the owner. A distressed home may imply economic issues or lack of interest in the property. They’re quite likely needing to get rid of that property and the conditions will secure a below market price.
  • You can also go online and check real estate websites like Craigslist, Zillow or Realtor.com to check some of the good properties listed there.
  • Are you part of a local real estate network? Leverage from that and exchange some great information
  • Searching for public records in your area is also a good method. Cases like recently inherited properties or homeowners behind on payments make good candidates for deals.

How To Work With Real Estate Wholesale Investors?

Finding your end buyers is just as important as finding the deal. Maybe a little more significant, as they are the ones who put the money in the deal and where your profit comes from. Investors or contractors are the right target for this. Build a strong buyers’ list and you’ll know where to take and close any deal you find.

There are several methods to build a good buyers list, including:

  • Build strong, relevant relationships. How? By getting into your network, you can whether attend real estate events or get involved in social media groups.
  • Use email marketing campaigns and social media to spread the word about your offers.
  • Use bandit signs. This old school method is still reliable these days. Many successful wholesalers love to use them. Share your contact info throughout your area.

Making Sure The Contract Is Written In Your Benefit

There are legally two ways to perform a real estate wholesale. You can either sell a contract or execute a double closing. It is my recommendation to stick to the most common option, selling the contract. This way, your name, your financial status, your credit score, none of this will matter or get in the way of closing the deal.

It is the perfect method for those starting from scratch in this business. When you get a property under contract, you then sell the end buyer the possibility to buy that property. Make sure this is stated in the contract, as well as your way out the deal without having the obligation to put any money from your pocket in case the buyer backs out!!!

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Wholesale Real Estate

How To Wholesale Real Estate For Beginners

How To Wholesale Real Estate For Beginners is perfect for anyone interested in wholesaling real estate.  Wholesaling real estate is a very easy way to make a lot of money.  It requires NO license, and anyone can do it.  People try to keep it a secret,  but I, Allen Jimenez, certified real estate broker with 15+ years of experience, show everyone how to do it for free.

Stay Organized

Wholesaling realestate requires strategy, real estate marketing, real estate scripts, and coaching, but leads you to a BIG pay day! Probably the best part of being a real estate wholesaler is that this is not a commission job.

Your earnings rely on how good the deals you find are and how many of them you can find. So, it’s all about what you can do, it comes down to your performance and your ability stay focused and organized to get the max of these negotiations!

Marketing Plan to Attack

The strategies you use for marketing will help you boost your wholesaling business. You must active a good lead generation campaign to get you started and keep you going. These are the three most common ways to generate wholesale leads:

  • Networking: creating solid connections with others in this industry has been the pillar of every branch in real estate since ALWAYS! Never think of this as a waste of time. This can truly boost your results.
  • Marketing Campaigns: spread the word about your services or deals available through business cards, postcards, social media posts or email campaigns. Make sure to be present in your leads’ lives. Make sure you reach your target audience.
  • Social Media: you must leverage this free, accessible to everyone tool. Possibilities are endless. Nowadays almost everyone has an account on any of these popular networks. Make sure to have a presence on Facebook, Twitter, Instagram, and LinkedIn. Their millions of users mean a goldmine to dig wholesaling leads from. When used right, social media can provide you with endless streams of leads to your buyers’ list.
  • Bandit Signs: we have already talked about the importance of this ancient tool that keeps ruling the market until today. You can invest a little money to print some nice signs, but what truly matters about them is where you put them. You want them to be visible, to be allowed to be there, and to have them in a location where they can be for as longest as possible.

Where Do I Find Sellers?

You’re interested in getting started in real estate wholesale, but you keep wondering where do I find these urgent sellers? We’ve been mentioning this a lot in all of our Wholesale Real Estate For Beginners guides. In fact, there are a lot of ways to find them. You can go to your county court and find public documents or records, the super common bandit signs. Click here if you want to go into detail on this point.

Can I Get into Trouble When Wholesaling?

Of course, you can get into trouble! There are several ways you can get yourself into trouble, but I don’t want to put any scares on you because if you get well educated in some critical aspects, there’s nothing to be afraid of.

For instance, one of those ways is making sure there is no loophole in your contract and that every clause used is in your benefit.  

Wholesale Real Estate For Beginners: Real Estate Wholesale Contract and Addendums

How To Wholesale Real Estate For Beginners

Initially, a good contract must contain certain information to guarantee the wholesale transaction is performed the right way for all parties involved. It must be crystal clear about its intentions and present all clauses to favor you.

What your Wholesale Real Estate Contract Must Have

Each case has its peculiarities. In this Wholesale Real Estate For Beginners free post, we’re leaving a clear idea. Generally, you can’t miss out on the following info:

  • Names and signatures of all parties involved.
  • A full description the property along with its type and address.
  • Other goods included in the sale price (articles and fixtures other than the building and the land).
  • The purchase price, deposit, and financing terms, as well as a description of where deposit money is held, and of the  financial terms for the payment (cash payment? Other form?).
  • Describe the conditions of the property to be presented to the buyer
  • Inspection contingencies: this allows the buyer to perform an inspection in case the afore mentioned conditions are not met and even back out of the deal.
  • Risk of loss and damage: Protects the buyer in case any damage occurs to the property while under contract.
  • Disclosure about lead-based paint.
  • Set the deadline for the closing date.
  • Confirm the type of deed to be delivered.
  • Marketable title. This allows to reject the purchase and refund the deposits in case the seller is unable to pass title or the buyer is unable to obtain title insurance.
  • Adjustments: modifications for taxes, water, or sewage (vary from one state to another).
  • Common Addendums. These are other forms that go along with the contract.
  • Seller’s and buyer’s default clauses, stating their rights to defaults on the terms agreed on the contract.

This road is not too long, not too hard, and everything you need is right here. After all, it’s all about wishing to success and all the knowledge you need in the screen in front of you. Educate yourself and make of this the time to change your life!

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Wholesale Real Estate

Digital Nomad – How to Make Money & Travel

Digital Nomads can Travel the World and make money. I’m a real estate broker and been traveling the world for nearly 5 years now. I love it, been to Thailand, Bali, Colombia, and now in Dominican Republic (Punta Cana). – One way you can become a Digital Nomad is Wholesaling Properties.

What Does It Mean To Be A Digital Nomad?

In basic words, it means you can work wherever you are. If you want to travel the world you need to keep working on something you can do from anywhere and make enough money to support the lifestyle you want to have. Most of these jobs are not rocket science and are very easy to start.

What You Need To Do Before Choosing Your Destination

It takes more than simply blind pointing a place in a map! Well, that’s a start, but I advise to do some research before you leave your home country. For instance, you can:

  • Start reading the local news to get an idea about how day to day life is there.
  • Read about weather and climatic phenomena going on there. Do you like the seasons that country has? Is it dangerous to live there due to frequent earthquakes, storms, or something?
  • Find out about the relationships your home country and destination have. You want to make sure you can come and go whenever you want.
  • Find out about the costs you’ll face. What type of lifestyle you want to have? How much money will it take? Do costs allow you to do more than just working? Can you enjoy your time there?

How Do You Make Money As A Digital Nomad?

digital nomad make money

Currently, internet allows a several different activities to be performed from anywhere in the world and make money. For example, bloggers, translators, online sellers, course creators, they can all take their jobs from home to a digital nomad level. In my case, working in the real estate industry for 15+ years, I wanted to keep doing what I do, but also start enjoying life.

My concern was how to make around $10,000 a month by working only a few hours a day? And real estate wholesale was the right answer to my question.

Wholesale Real Estate Meaning

Wholesaling is basically putting a home under contract that is at 60% or less of its value. Then we resale the rights to the contract to an investor for a profit. Usually $5,000-$50,000 profit, although my highest was $130,000 re-assignment (YES!!!).

Benefits Of Wholesale Realestate

ONCE YOU LEARN THE ART OF wholesaling, there’s almost zero disadvantages. For real! If you get well educated, you will:

  • Make money from your brain, your time, and your negotiation abilities. You won’t be using your money to start or to keep doing in this business.
  • You’ll be selling the right to buy a property, a piece of paper!!!
  • Every negotiation will bring good money.

If you want a better life, financial freedom, without having to work countless hours, you should really think about getting into real estate. Now if you are looking for a GET RICH QUICK SCHEME… this is NOT it! This is me telling you what I have learned in real estate over the last 15 years as a Real Estate Broker. I’m licensed to train, mentor, and supervise realtors – TX-0549644. So, know that you are in good hands. Learn More here.