Susan Ormont - RISK VERSUS REWARD: A SIMPLE GUIDE FOR INVESTING IN REAL ESTATE

• Join all related investment and real estate groups you can find, whether it’s online or in person. Whenever you make a new contact, connect with them quickly, learn exactly what they’re looking for, and stay in touch, even if you don’t have a property that fits their needs at the moment. A trusting relationship is just as important as a good deal. Keep in mind that while a good list is important, sometimes all you need are a few investors to make your wholesaling a success. That way, you’ll always have people who want the kind of properties you find. One potential obstacle to overcome is that many investors will want to work only with wholesalers who have experience. If you’ve been doing this a while, be sure to have a portfolio you can show them. This can be a website showing all your deals — both past and present — so it’s immediately clear you’re serious about wholesaling and they can count on you to find good deals.

Cash Buyer Advantages

In an ideal world, you’d always work with cash buyers. Why? Because the process tends to go more smoothly and quickly, which means you get the money in your hands faster and with less stress! But that’s not all. When you get a cash offer, you don’t have to pay closing or realtor fees, and you don’t have to deal with banks’ red tape or refusal to give buyers a loan. In addition, cash buyers, particularly those who are investors themselves, are often willing to buy the property as-is, so you won’t have to spend any money to fix things up. While a buyer’s cash might come from their own bank accounts, they might also have obtained a HELOC (home equity line of credit), used a self-directed IRA, private or hard money from

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