Make $10,000 In 30 Days | Wholesale Real Estate

Summary

This video outlines a step-by-step approach to making $10,000 in 30 days through wholesaling real estate. It explains the advantages of wholesaling over flipping, emphasizing less risk and quicker cash flow. Key strategies include finding undervalued properties via the MLS, collaborating with other wholesalers, and utilizing direct-to-seller marketing. The video also highlights effective methods for securing buyers through online platforms and networking. Ultimately, it encourages viewers to take action, leveraging available resources and support to succeed in wholesaling without the complexities of traditional real estate transactions.

Takeaways

• 😀 Wholesaling real estate involves securing a property under contract and assigning that contract to an end buyer, allowing you to earn a wholesale fee without purchasing the property yourself.
• 😀 The average assignment fee in wholesaling can be substantial, often around $10,000 or more, depending on the market and deal.
• 😀 Unlike flipping houses, wholesaling is less risky and requires no need for capital to buy or renovate properties.
• 😀 To find deals, utilize the Multiple Listing Service (MLS) by setting up auto searches for properties listed below market value.
• 😀 Co-wholesaling is a valuable strategy where you partner with other wholesalers, potentially splitting the profits from a deal.
• 😀 Direct to seller marketing is a highly effective method for finding deals, involving strategies such as cold calling, direct mail, and online ads.
• 😀 Outbound marketing methods, like cold calling, are cost-effective and allow for reaching many potential sellers, even if they are not actively looking to sell.
• 😀 Inbound marketing techniques, such as TV ads and direct mail, tend to attract more motivated sellers but can be more costly.
• 😀 Networking is crucial for finding buyers; consider using social media platforms, attending meetups, and joining real estate investor groups to connect with potential clients.
• 😀 To succeed in wholesaling, focus on mastering one method of finding deals and gradually expand your strategies as you gain experience.

Q & A

What is wholesaling in real estate?

Wholesaling in real estate involves securing a property under contract and then selling that contract to an end buyer, allowing the wholesaler to earn a fee without buying or renovating the property.

How does wholesaling differ from flipping houses?

Wholesaling is less risky and quicker than flipping houses because it doesn't involve purchasing the property, managing renovations, or waiting for a sale.

What are the potential earnings from wholesaling?

While the average assignment fee for wholesaling can be around $10,000, many wholesalers achieve assignment fees over $25,000, depending on the deal.

What is the first step to start wholesaling?

The first step is to find a good deal by securing a property under contract, typically at a price below market value.

How can one find good deals in the market?

Good deals can be found through the MLS by setting up auto searches, networking with other wholesalers, or using direct-to-seller marketing strategies.

What is the MLS, and how is it used in wholesaling?

The MLS (Multiple Listing Service) is a database of properties for sale. Wholesalers can set up auto searches to receive notifications for properties priced below a certain threshold, allowing them to make offers quickly.

What are some effective marketing strategies for finding sellers?

Effective strategies include cold calling, text messaging, direct mail, and digital marketing like Facebook ads and SEO, focusing on both outbound and inbound marketing methods.

What should one do after securing a property under contract?

After securing a property under contract, the next step is to find an end buyer for that property, utilizing networking and marketing strategies.

How can wholesalers connect with potential buyers?

Wholesalers can connect with potential buyers by joining local real estate investment groups on social media, attending meetups, and utilizing online platforms to market their deals.

Why is wholesaling considered a good option in today's market?

Wholesaling is seen as a favorable option due to its lower risk compared to flipping houses, particularly in a fluctuating market where managing renovations and financing can be challenging.