likely be discovered somewhere along the way. When that happens, sellers won’t want to sell to you, and investors certainly won’t want to give you money or buy contracts or properties from you. Being upfront about why you’re doing what you’re doing, the process, and what risks exist will give you credibility. People on both sides of the transaction need to feel comfortable and know they can trust you. Further, keep in mind that sometimes, sellers go with emotion when choosing to whom they’d like to sell — if they like you, they might pick you, even if your offer is lower than someone else’s. Honesty, authenticity, and clear communication are everything when it comes to building and maintaining relationships and growing your business.
A HOW-TO GUIDE FOR WHOLESALING
Wholesaling involves an investor putting a contract on a property for below market value, then finding a buyer to buy the contract (called simultaneous closing ) for a higher price and/or a fee. Another option is for the wholesaler to buy the property outright, then quickly sell it. The wholesaler uses a purchase and sale agreement (also known as a purchase contract , sale contract , or agreement of sale ), which states the purchase price and terms of purchase. Wholesaling can often be one of the faster ways to make money in real estate (sometimes it takes just a few hours!), which is why some investors center their business on this strategy (although many still include other types of real estate investments as well).
In order to be successful, you need to learn how to find the
179
Powered by FlippingBook