This software provides unmatched access to detailed property records nationwide. More data, more features, and investor toolsthan any other service.
Unlimited searches let you evaluate specific properties or search our database of over 160 million records, both on and off market, that meet your exact investment criteria.Target motivated sellers, find cash buyers, accurate COMPS, and much more with our precise filtering system.
Motivated sellers do not search “real estate wholesalers near me” online, offline or anywhere.
If your marketing is targeted at people looking for real estate wholesalers, that’s a grave mistake that will cost you even more than money.
Even worse… It will cost you time.
I notice that wholesale rookies and newbies are tagging “WE BUY HOUSES” marketing message with hashtags such as:
#wholesalerealestate #wholesalingrealestate #realestatewholesaling #realestatewholesale
No matter what market condition you find yourself, someone is always buying something.
In a confident market, you can expect that people (the core pillar of a recession proof business) are buying lots of luxury products.
Real estate purchase is luxury for most people and they tend slow down on purchase of it in a slow market or market crisis.
But people are still buying necessities even from Smart Real Estate Wholesalers.
So the real question is if your business is positioned to be open in any market.
In March 2020, the whole world got hit with a terrible pandemic that killed 10’s of thousands of people.
Lots of governments locked down their economy and you guess it right, people and especially investors slowed down on buying real estate.
When there is uncertainty, market crashes.
So it’s only wise in the middle of that pandemic to re-adjust and approach prospecting with wisdom.
Sure, business continues but may be not as usual… especially traditional real estate wholesalers.
In fact, wholesalers can potentially continue to acquire contracts in the middle of a recession or bad market condition,
But only to find out later that the contracts could not be disposed.
Therefore signed contracts that used to be 80% of the work is now 20% of the work due to market uncertainties.
So it’s easy for me to know these things because I survived the 2008 real estate recession and I can comprehend the idea of a market shift.
Subsequently, the same mindset is what you need when approaching our marketing and sales language.
So no one is clicking through real estate wholesale hashtags to find someone to sell house to…
They are people looking to learn virtual wholesaling.
Likewise, no one is searching for real estate wholesalers near them to find a person to sell a discounted house to.
It’s your job as a marketer to understand these nuances and apply them appropriately into your marketing language as a wholesaler.
You are not a wholesaler outside of the click of wholesaler; you are an investor and you have a marketer to do that successfully and profitably.
Get Your After Repair Value – ARV Calculator
Below is a question for us to address with this lesson…
“Use wisdom people!
People are dying or hospitalized.
Is this the right time?
ANSWER – It must be the right time. I got 2 deals today and have a business my man i don’t do this for hobby or to see what happens. I don’t have regular job….
It is not the time for wholesaling you will get a lot of that.
Plus the government offices are pretty much shut down.
Good luck to you.”
Enjoy the video.
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Padilla5.0 out of 5 stars⭐⭐⭐⭐⭐Awesome book!!
Cliff R.4.0 out of 5 stars⭐⭐⭐⭐Full of actionable, useful information for sure.
The author does an excellent job of cutting through much of the real estate wholesaling BS that is prevalent in the market. That is to say while most gurus are teaching what they DO NOT DO, Ola outlines steps of creating value at the center of your marketing. His down to earth delivery just makes sense. He speaks of leveraging technology, the importance of multiple income streams, and an overview of the real estate wholesaling business in the new age of business marketing. For example, he mentions that many people don't even like their family members stopping by unannounced, so how can you expect them to be ultra receptive to a stranger popping up looking to capitalize on a misfortune. Of course that's not how the "Door Knocking" conversation would be framed, but that's exactly what it is.All in all I enjoyed the read and if you plan on making action your focus, you will too.
Brian Ellwood5.0 out of 5 stars⭐⭐⭐⭐⭐Solid Advice From Someone Who's Been There
Ola is a legit real estate investor and marketer. He's a real student of wholesaling and marketing - his approach to marketing for wholesale deals - ADD VALUE - is recession proof and feels right. Don't pass up this book!
Melton Thomas5.0 out of 5 stars⭐⭐⭐⭐⭐A true mindset shift!
As a virtual real estate wholesaler and investor, it makes sense to me to optimize my approach and use technology to drive. This book gave me a clear, concise framework that I could leverage and implement!
stacy5.0 out of 5 stars⭐⭐⭐⭐⭐Amazing
This book is amazing and very beneficial. The author is very knowledgeable on the concepts at hand. Definitely a great book to read.
How do I find wholesale real estate?
You can find wholesale properties by target marketing at potentially distressed property owners such as pre-foreclosures, tax delinquency, unwanted inheritances, tired landlord and etc.
How much do real estate wholesalers make?
It depends but particularly on how much of marketing and how skillful the wholesaler is as a marketer in a digital age.
A skillful wholesaler should be making no less than double 6 figures income once up and running with momentum.
Keep in mind; it is entrepreneurship. There is probably not going to be any paycheck next Friday as of yet.
What is a real estate wholesale deal?
It’s a deal generated from the art and science of finding a deeply discounted property using mass media marketing, locking it under a purchase contract and optionally selling or assigning the equitable interest in the contract to an end buyer who will execute the contract for an assignment fee.
How do you sell a house wholesale?
The first step is to lock the house under contract at a deep discount.
That enables you to assign the equitable rights in the contract to an able and willing buyer or investor who wants to fix and sell it.
- A Motivated Seller.
- Relatively High After Repair Value (ARV)
- A Large Amount of Wholesale Real Estate Equity.
- Property Information from the Seller That Matches the Home's Property Card Information.
- Start Wholesaling with Confidence Today!
- Find A Distressed Property Or Motivated Seller. To make real estate wholesaling work, you must find motivated sellers of distressed properties. ...
- Negotiate With The Seller. ...
- Sign The Contract. ...
- Search For An End Buyer. ...
- Negotiate With The Buyer. ...
- Assign The Contract. ...
- Close The Deal.
- Mistake #1: Not Understanding Your Market.
- Mistake #2: Not Understanding Your Buyers.
- Mistake #3: Poor End-to-End Due Diligence.
- Mistake #4: Complacency When It Comes to Your Buyer(s)
- Mistake #5: Getting Too Reliant Upon One Contractor in Fix & Flip.
Wholesaling real estate can be profitable, and it has the benefit of requiring little upfront capital. But you must also consider whether it's something that interests you. Real estate wholesaling requires marketing and networking. You'll also likely need a deep understanding of real estate and the local market.How do I know if my property is worth wholesaling? ›
Seller motivation, property information, equity, and ARV are four of the most critical aspects of a wholesale deal to keep an eye on. The amount of value you get out of a deal is proportionate to that which you put into it, so perform your due diligence, and you will be well on your way to financial independence.What is the 70% rule in wholesaling real estate? ›
The 70% rule can help flippers when they're scouring real estate listings for potential investment opportunities. Basically, the rule says real estate investors should pay no more than 70% of a property's after-repair value (ARV) minus the cost of the repairs necessary to renovate the home.How to wholesale houses for beginners? ›
- Research your local market before getting started.
- Curate a buyers list for your area.
- Secure a financing source that works best for you.
- Begin searching for potential wholesaling properties.
- Decide whether to sell the contract or work on a double closing.
It depends on the contract and the situation, but in most cases, sellers can find legal justification to back out of a deal if they have included clauses in their contract and are motivated to void the agreement.How risky is wholesaling real estate? ›
Since the wholesaler never actually purchases a home, real estate wholesaling is much less risky than flipping. Flipping also often involves renovation and carrying costs such as a mortgage, property taxes, and insurance. Real estate wholesaling requires much less capital than flipping.What is the downside of wholesaling? ›
Disadvantages. Insecure income: Wholesaling is not a usual 9 to 5, and you cannot rely on consistent paychecks. While there are upsides to being your own boss, and this may be preferred for some real estate investors, you do have to keep in mind that you will not have work benefits.
The first step to any wholesale deal involves researching and strategizing. Spend time educating yourself on the overall process so you know what to expect before you start searching for properties.What is the average wholesale assignment fee? ›
New wholesalers typically aren't sure what they should charge. But it's going to vary from deal-to-deal, and market to market. A decent wholesaling fee can range from $10,000 to $30,000. There are occasions when you hear about $100,000 assignment fees.How do wholesalers make money? ›
Wholesalers operate as middlemen between product manufacturers and retailers or other businesses. They make a profit by buying products in bulk at a discount and reselling them in smaller quantities at a higher price to individual retailers.What's the difference between wholesaler and real estate agent? ›
Although a real estate agent and a real estate wholesaler both never own the home being sold and make a profit off of connecting a home seller to a home buyer, a wholesaler doesn't need a formal education or license. They can usually close a sale faster than a real estate agent.How do you know if a home has good resale value? ›
- The home is situated in a sought-after location. ...
- The schools are well-regarded. ...
- The curb appeal is there. ...
- The floor plan works for a broad pool of buyers. ...
- The neighborhood is considered safe and quiet.
Pros: A good wholesaler will be transparent and tell you upfront what they are doing. Wholesalers that have been doing it for a long time have a robust network of investors and can make good on their promise. They are able to find a buyer for your house when no one else could have.What is the golden formula in real estate? ›
In case you haven't heard of the so-called Golden Rule in house flipping, the 70% Rule states that your offer on a property should be no greater than 70% of the After Repair Value (ARV) minus the estimated repairs.How much does it cost to flip a 2000 sq ft house? ›
When trying to estimate the cost to flip a house by size alone, investors can expect to pay between $10 and $60 per square foot for renovations. However, investors who choose high-end materials or top-of-the-line appliances can expect this number to shoot up closer to $150 per square foot.How much money do you need to start flipping houses? ›
Flipping a house could require several hundred thousand dollars or almost no upfront money of your own at all. Everything from location, to condition, to your credit score can impact how much money is needed to flip a house. And no two flips are exactly alike, which means the cost changes from project to project.Do you need proof of funds to wholesale? ›
When wholesaling houses & real estate, a Proof of Funds (POF) is needed with every offer. One way to get a Proof of Funds is from one of your Cash Buyers. A Cash Buyer is the real estate investor that is in the business of buying wholesale homes from you to renovate & sell at a profit.
Is Wholesaling In California Easy? No, it's not easy because wholesalers need to understand the state and local contracts and real estate laws. However, reading our informative articles here and taking courses will teach you everything you need to know about the wholesaling profession.Is wholesaling really that easy? ›
Running a wholesaling business can be challenging because you must be able to identify properties being sold for well under market value, negotiate deals with sellers, and target cash buyers who are willing to purchase those properties.Can a beginner do wholesaling real estate? ›
It's especially attractive to new investors since you can get started with very little upfront capital. However, it will take time to make money as a wholesaler, and you may make some mistakes in the beginning. It may be helpful to connect with a mentor who has already been successful as a real estate wholesaler.What do you need to start flipping houses? ›
- Research your local real estate market. ...
- Set a budget. ...
- Get funding for flipping. ...
- Find a realtor with flipping experience. ...
- Purchase a property. ...
- Hire the right renovation team or do it yourself. ...
- Source your own materials. ...
- Relist and sell.
A double closing enables a wholesale investor to protect the profit by keeping the purchase and subsequent sale to an end buyer as separate transactions. This prevents either the initial seller or the final buyer from knowing the profit margin and feeling in any way ripped off.Can a seller back out of a contract if they get a better offer? ›
Share: Yes. A seller can back out of an accepted offer or before closing, as long as there are no specific clauses that state otherwise. That being said, whether or not a seller can back out of a contingent offer depends on the contract that was written and what is mentioned in it.Can a seller back out after accepting an offer? ›
Yes, a seller can back out of a contract under certain circumstances. But you must show that you've upheld the conditions in the purchase agreement or face consequences.What reasons can a seller back out of a contract? ›
Can a seller pull out after accepting an offer? If there is an available contingency in the contract, the buyer can't secure funding, or there is fraud on the part of the buyer, the seller may usually cancel the contract. You may also cancel the sale during the attorney review period.Can you lose money wholesaling real estate? ›
The real estate industry is a serious place filled with risk. While wholesaling is one of the lowest-risk ways to get started, it still takes some money, and you can lose it if you're not serious. One of the most common ways this happens is when wholesalers don't follow up on their leads.Is wholesaling better than flipping? ›
Wholesaling real estate is a low-risk investment strategy where you can also learn how the industry works as a beginner. While flipping houses may take a while before you can see your return on investment you can still definitely expect to earn much higher profits than wholesaling.
- Doing the job correctly (no errors)
- Doing the job effectively (maximum service)
- Doing the job efficiently (low costs)
Wholesalers are able to sell their products for a lower price as they are selling in bulk, which reduces the handling time and costs involved. They usually provide large quantities of goods, but can take on orders for smaller quantities as well.What are the pros of wholesaling? ›
- It delivers a sufficient number of goods for resale by consumers.
- This allows for more geographical access and a greater variety of items to be obtained.
- Maintaining and improving product quality in order to increase sales.
Wholesaling Is Lucrative
On average, real estate wholesalers can expect to make between $5,000-$10,000 in commission per property. Once you have a property, a contract, and an interested buyer, this process can move quickly and you can start your business.
(Recommended) Retail price
The retail price is normally around 2 to 3 x the trade or wholesale price, depending on the mark up of the retailer. It's best practice to charge around 2.5 and this has been the case for many decades.
Assignment fee: the amount of money the assignor will make for finding an end buyer. The assignment fee should be clearly set forth in the assignment contract.Is selling on assignment worth it? ›
An Assignment Sale can be an incredible opportunity to purchase a unit that you may have missed during the pre-construction sale phase. Even if an assignment is selling for double its original price, the unit could still be worth more upon completion.What percentage do wholesalers take? ›
Set your wholesale price
Apparel retail brands typically aim for a 30% to 50% wholesale profit margin, while direct-to-consumer retailers aim for a profit margin of 55% to 65%. (A margin is sometimes also referred to as “markup percentage.”)
With an average wholesale assignment fee of around $10,000 per transaction, it doesn't take many deals to quickly earn a respectable income as a wholesaler. Even just closing one deal every two months, an amateur wholesale investor could make around $50,000 in their first year.What is the average income of a wholesaler? ›
How much does a Wholesaler make? As of Mar 7, 2023, the average annual pay for a Wholesaler in the United States is $41,719 a year. Just in case you need a simple salary calculator, that works out to be approximately $20.06 an hour.
Wholesale real estate is a way to buy and sell real estate contracts. Wholesalers act as intermediaries between sellers and buyers, who are usually investors. A wholesaler will usually contact owners of distressed properties and convince them to open a wholesale contract with them.What is the difference between a wholesaler and a broker? ›
They both act as middleman in a deal right for a fee. The main difference between a broker and a wholesaler is that the broker never is a principal of the transaction. As a wholesaler you take title to the property or note for a period of time and then you sell it to another buyer and receive a profit.What type of properties should I wholesale? ›
Usually, wholesalers look for a distressed property that the owner doesn't want to spend time or money on. The owner is usually motivated to sell and often doesn't want to work with a real estate agent.How difficult is wholesaling houses? ›
Running a wholesaling business can be challenging because you must be able to identify properties being sold for well under market value, negotiate deals with sellers, and target cash buyers who are willing to purchase those properties.Do wholesalers have to buy the home? ›
Real estate wholesaling is a legal practice you can use to make a profit by conducting real estate deals without ever purchasing a property. If you're a new investor who's looking to give wholesale real estate a try, this article will outline the basics of what you need to know to get started.Do you need any money to do wholesaling? ›
Many investors find it appealing because you can get started with no money. At the same time, many will say wholesaling is a waste of time. This is because it can take a lot of effort, networking, and research to assign your first contract.What are the disadvantages of selling to a wholesaler? ›
Disadvantage. Wholesalers need to make money, as do retailers. So the disadvantage of selling to wholesalers is your customers have to foot the bill for all the price markups added by the middlemen. For example, suppose a factory sells shoes to a wholesaler for $5 a pair.What is the problem of wholesalers? ›
One of the top challenges a wholesaler has to deal with is inventory management. It is an unending cycle that starts from acquiring products to storing and selling them to retailers in bulk. Two extreme sides of the supply chain of most businesses are shortage and overabundance of products.What is one disadvantage of the wholesaler? ›
While wholesaling can offer lower prices to customers who are buying in bulk, the company who is producing the goods may not be able to obtain profit margins that are equal or greater than the margins seen by selling the goods individually or in a retail environment.How to wholesale a house step by step? ›
- Step 1: Identify motivated sellers. ...
- Step 2: Make an offer. ...
- Step 3: Enter a contract. ...
- Step 4: Find a buyer and assign the contract. ...
- Step 5: The buyer closes on the property.
Wholesaling real estate is a low-risk investment strategy where you can also learn how the industry works as a beginner. While flipping houses may take a while before you can see your return on investment you can still definitely expect to earn much higher profits than wholesaling.Why sell your home to a wholesaler? ›
Pros: A good wholesaler will be transparent and tell you upfront what they are doing. Wholesalers that have been doing it for a long time have a robust network of investors and can make good on their promise. They are able to find a buyer for your house when no one else could have.