Eddie Case asked:


You’re all excited and fired up about getting started in real estate investing! You have chosen to specialize in real estate wholesaling, CONGRATULATIONS! You have chosen the absolute BEST real estate investing vehicle available to new investors!

 

Why is it the best? Its best for a lot of reasons but the 3 best reasons to wholesale real estate are:

 

1.) There is Zero Risk involved with this type of investing. 2.) You need none of your own money to get started as a wholesaler 3.) Your credit rating is NOT a factor, it NEVER even comes into play!

 

And if that’s not enough to get you totally excited about real estate wholesaling then the potential of earning a realistic high 6 and 7 figure income should push you right over top!

 

Now for some sobering news. Although real estate wholesaling can make you fabulously wealthy as an investor, it’s “no free lunch”. What I mean is, there is a good deal to learn about real estate wholesaling first. You must first do your homework and prepare yourself for the wholesaling road ahead.

 

You must first familiarize yourself with the “business model” of wholesaling real estate. There are a few key areas that surrounds a typical real estate wholesale deal that you MUST understand thoroughly and then implement successfully to make this wholesaling machine work properly and profitably.

 

At the very least you should understand the following wholesale deal related procedures:

 

- Learning your market – Finding Investors so you can wholesale your properties – How to “talk to your investors” intelligently – How to find Great deals on wholesale priced property – How to make purchase offers on property – How to structure the wholesale deal between the buyers and the sellers – How to write a wholesale deal sales contract – How to use private money and Hard money to your advantage – How to calculate Repair cost to distressed property – How to use assignment contracts – How to build a “killer” investor buyers list – How and where to market your wholesaling business for the world to see!

 

These are just a few of the many different facets that make up a completed real estate wholesale deal! There really are few things that you must thoroughly understand and then be implementing to make this business work right fro m the gate.

 

I get really upset, no that’s not strong enough, I get fuming pissed-off when I see all of the pretend experts and fake gurus out there pumping false information to unassuming victims who buy-in to these crooks lies!

 

I remember when I first got into the wholesale business, I spent a lot of money chasing a few of these individuals to the ends of the earth only to find out that I had been scammed! Only to wake up one day and realize that my money had been stolen from me, and that I was right back where I had originally started. With no real direction on which way to go as a real estate investor want-to-be, and not knowing who to trust to get me where I wanted to go.

 

It wasn’t until I met the one person who was true a practicing real estate wholesaler that the “light-bulb” finally came on for me. It took me finding an “honest to god” real wholesaler to show me the ropes to make real sense of this business we call wholesaling. And then within a very short time I was wholesaling my **** off banking BIG money, and having the time of my life in the process! All it took was some Real direction from someone who was an expert and from someone who truly cared about my success as much as I did!

 

Real estate wholesaling is no different than any other business that you get into. You must understand how it really works first! Or, its never going to make you any money. I have started and operated 13 different companies over the last 25 years and I am speaking from pure experience when I’m telling you this! I learned the hard way, but you do not have too!

 

You can learn a lot from avoiding the same mistakes that other before you have made. You can save so much time and money learning from other peoples mistakes. By listening to what other successful investors have to tell you about their learning experiences, you can avoid 90% or more of the typical mistakes that most “Newbies will make. And you will make mistakes!

 

Wholesaling real estate is an awesome vehicle to FAST CASH! A successful wholesaler can make $ 250,000.00 to $ 1,000,000.00 %2B per year! A “Luke warm” wholesaler can easily make $ 75,000.00 to $ 100,000.00 a year. The money is there if you know how to wholesale correctly. But its a business, not a hobby. And to do it right you need to know how to setup the business correctly, and then run the business correctly, or it ain’t going to work, meaning, you ain’t going to make much money! Sorry, but that’s a fact jack!

 

I specialize in helping new and some seasoned investors break into the real estate wholesaling business “hardcore and full time”, and do it the right way the first time.

 

Visit: www.FAQMentor.com for 20 FREE Real estate wholesaling FAQ’S!

 

Eddie Case asked:


You need not worry about your credit rating when wholesaling because it NEVER enters into the picture for this type of real estate deal! As a wholesaler you are never going to need to qualify for a mortgage.

Wholesalers either \”double close\” on their wholesale deals or they \”assign\” their contracts to their investor/buyers eliminating the need to ever fill out a credit application!

Since the majority of wholesale deals are funded with Private Money and not conventional funding, traditional credit based borrowing goes right out the window!

When \”Double closing a Wholesale deal only one loan package is used to close both sides of the deal. Your Buying from a motivated seller and then your selling back to your Investor/Buyer with the same money, (using it twice!). So the ONLY person who needs to give credit info is your Investor/Buyer, because he is ultimately one the one who is on the \”hook\” for the financing with the private lender, NOT YOU!

SO YOU DON\”T HAVE TO GET YOUR CREDIT PULLED! YOUR CREDIT DOES NOT MATTER ONE BIT because your not the one repaying the loan!

What other style of real estate investing allows you to control hundreds of thousands of dollars of real estate deals even if you have \”Bad Credit\”?! NONE that I know of!

Also, because most wholesale deals revolve around Private Funding, there is NO CREDIT AGENCY REPORTING! This is  because the \”Private Lenders do not report to the agencies. So your buyers credit rating NEVER shows any new loans on their credit report!

This helps your Investor Buyers credit rating because their debt to income ratio never changes even though they may have placed several hundred thousand dollars worth of mortgages with the Private Lenders.

This means your investor buyer never looks like his credit limit is over extended! Your buyer can still borrow more money from other hard money lenders anytime he wants, in turn, he can still buy more deals from you!

But, if YOU have  blemished credit, YOU can still invest heavily in real estate as a real estate wholesaler. You can start TODAY!

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Eddie Case asked:


A typical Real Estate wholesaler who is wholesaling single family homes can expect to make (on Average) $5,000.00 to $7,500.00+ per deal!

Lets take a moment and talk about what the wholesaler actually does to make this 5K to 7.5K on each wholesale deal.

1.)The wholesaler tracked down another great wholesale priced property by applying the techniques he has learned about real estate wholesaling:

* He has a marketing advertising program going

* He\’s got a real estate website up and running

* He\’s networking with other local and national real estate investors

* etc.!

2.) The wholesaler has found a buyer who wants to purchase this excellent priced investment property from him (the Investor/Buyer is also called the \”end user\” of the wholesale deal.

* He\’s built a list of hungry Motivated Buyers who are literally standing in line to buy his available inventory of wholesale priced deals

* He\’s also staying in constant Contact with his Investor/Buyers list and updating them on his available inventory through emails, post cards, websites, Blogs, faxes and phone calls.

So what has the wholesaler really done here? He\’s done 2 things:

1.) He\’s built a buyers list of motivated buyers who are constantly looking to purchase new properties from him.

2.) He\’s built his property locating system, which continually brings him a fresh supply of wholesale priced properties. Property that is typically going to be priced at 40 to 60% of the Fair Market Value (FMV).

Once these 2 systems are built and solidly in place, the wholesaler\’s business is completely automated to find properties and sell properties.

Once these 2 systems are in place, the time that is involved in structuring a wholesale deal is only a few hours at best! Now the wholesaler can comfortably do 2-5 deals a month and make $10,000 to $ 25,000.00 per month, or more, and have more than enough time to live life on his own terms.

So again, a typical wholesale deal profit margin is between $ 5,000.00 and $ 7,500.00. As you can see, the money is fantastic and the terms for running your own wholesale business could not be any better!

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Brian Ducharme asked:


A wholesale is a very useful strategy in real estate investing. It may be the single fastest way to earn a profit in this business. Although it is a simple concept, it requires diligence if you want to make a lucrative living flipping houses, or for the sake of wholesale terminology, “flipping contracts.” A wholesale can be described as the selling of a contract for a fee. As an investor, there is nothing more important than fast cash. Here is how I perform an average wholesale deal. When I find a property in disrepair for a bargain price I am presented with a couple options. It is evident that the house is a good deal and once the repairs are completed the house will increase in value. The two options I am presented with are to either purchase the house myself and renovate it or to wholesale it. In most cases, I prefer to wholesale it and here are a few reasons why. Many rehab projects can take months to complete between the acquisition, renovation, and selling stages. Not to mention you will have to come up with thousands of dollars to complete the project. The average investor who is just getting started in real estate is not capable of executing this task.

On the other hand, a wholesale can be completed very quickly. It takes me approximately one month to perform a wholesale. Once I have found a good property that meets the criteria of a wholesale, I start contacting other investors I am networked with. I explain that I have found them a great rehab project and I am willing to assign them my contract to purchase the house for a fee. I typically call the same few investors every time so they understand my stipulations and are aware of the fees I charge. I usually charge an assignment fee within the range of five to ten thousand dollars.

 In order to successfully wholesale a property, a few things have to happen. First you have to find a property for a bargain price. Secondly you have to find someone (typically another investor) to purchase the property. You have to fill out a document known as an “assignment of contract” in order to be able to be paid from this transaction. There are many generic versions of this document available on the internet. I also provide a copy of the exact document I use in my manual that is available on my website. Lastly, the investor has to successfully purchase the property in order for you to receive a paycheck for structuring this deal. Your payment comes directly from the investor you wholesaled the house to. The investor is now paying ten thousand dollars more for the house if you charged a ten thousand dollar fee. When this deal is complete you have successfully been paid a large sum of money without putting forward any risk. You acted as a third party negotiator to the deal.

As you can see, there are many reasons why I love wholesaling properties. It is risk-free and it can be very lucrative. If I find several good deals at once, I am incapable of renovating every property at the same time. By using the technique of wholesaling I can continue to profit from every deal I encounter.

Karen Roberts asked:


5 Figure Assignment Fees may be hard for some people to believe in today’s Real Estate Market. Believe it or not, they are still out there for the active, persistent and methodical real estate investors, even the first-timers!

Wholesaling

Wholesaling is the art of finding and assigning properties.  It can be so appealing to new investors because there is very little cash required to support these types of deals and credit is not an issue. A new investor requires only a small amount of cash to cover earnest money deposits, advertising, etc.things like this.

Discover your mission, vision, or purpose in life.

Spend some time envisioning the type of lifestyle that fits your family and personality traits. Then begin to realistically set your goals based upon the vision.

Remember the basics about goals – they should be SMART GOALS.

S-pecific

M-easurable

A-ttainable

R- ealistic

T-imely

Aim for what really matters to you.  Discover your mission/vision/purpose.  and teach yourself how to set and persist to achieve your goals. To manage time effectively track your tasks consistently, so that  you don’t waste time on non income producing activities. Visualize and focus on your goals daily to ensure that your actions reflect that which pertains to your goals.

What tools do you need?

The basic tools that you will need as a new wholesale investor are these:

Cell phone -  (preferably a PDA) with unlimited minutes, you’ll need them!  This will help you to organize your tasks, records, phone numbers and synchronize with your computer. Computer - researching data comps and for marketing your wholesale deals Printer -  print out contracts, contracts and any documents Camera - this is an absolute must have for creating your e-flyers to mail our to your database to sell your deal Contracts / Agreements Fax Machine Filing Cabinet – you’ll need this too.

As your business evolves, you’ll reach a point where you will find other tools and gadgets that increase your productivity and your profits.

How to find deals:

There are many places to you can locate deals and here is a list a few of them:

Vacant Houses Title Companies Home Inspectors REIA Clubs FSBO’s Bankruptcy Attorneys Homeowners Associations Burned out Landlords Bail Bondsmen Code Enforcers Hard Money Lenders Meter Readers Waste Management Divorce Attorneys Probate/Trustees Tax Offices Garage Sales Estate Sales

** Every time you go for a ride, take a different route to get to know your neighborhood, the properties, comps, vacants and utility workers.

Once you’ve made contact with a truly motivated seller- you’ll make them an offer on that property based on the comps, repairs and your desired profit.

Quick Calculation of the Maximum Acceptable Offer: (MAO)

MAO = (ARV x .65) – RC – CC – AF

ARV  = After Repair Value

RC = Repair Cost

CC = Carrying Costs

AF = Assignment Fee

Assigning The Contract

The most important thing to do here….in the money step is to be very clear that you’ve contracted to purchase the property as “your name….and/or assigns”:  By placing and/or assigns after your name, you’ve ensured your ability to assign the deal to an end buyer.  Although a contract is usually assignable unless otherwise stated, I would **** for you to fall down on the money step by leaving it to happenstance.   Once you have an executed purchase agreement with the motivated seller that contacted you and you’ve negotiated a hot, smoking deal with your and/or assigns on that top line…you are ready to find your buyer.

Note: In my contracts, “and / or assigns” is a part of the agreement along with the following clause.

Buyer shall receive a key within 48 hours and be granted access to the property to allow partners and contractors to evaluate it as needed. If the seller is still living in the house, I request access on pre-arranged days and times.  When they won’t be there and this allows me to get my investors in to see the property.

How to help your buyers see the value in your deal

I try to make it as easy as possible for my buyers to access, evaluate and purchase my wholesale deal by doing the following.  By having my contractor to come out and submit an estimate on the needed repairs (on his professional letterhead) can save my buyer/investor a great deal of time and guesswork and I also ask my real estate agent for some accurate comps on the subject property. Even though I encourage every buyer/investor to pull their own comps, perform their own due diligence, I’ve found that by doing these things, they are steps that aid in the process of assigning the deal.

So at this point, you’re so close to that meeting with your bank teller right? …hang on!

At this stage, you have the property under contract,  you’ve got your estimate(s) for the repairs, comparables, photos, and you’ve got access to the property and your blank assignment of contact in your hot little hands. You’ve done a lot and you’re close.

How to Find a Buyer for your Deal

During this point, time is certainly of the essence and you’ve got to get your e-flyer made and sent out to your database, your craigslist ads, your for-sale-by-owner posts, directional arrows and a hard copy to bring to your local real estate investor club.

In my experience, they are many, many “wanna-be” investors that read book after book, attend seminars and invest within the confines of their minds. My advice to my students is to weed out the tire kickers from the decision makers, early on before they have a deal. Create a performing database. It doesn’t have to include many, many names…. just the ones that know a hot, smoking deal when they see one and that will perform when the times comes to do so.

What day is it? Now it’s payday!

Your end buyer / investor will be exchanging a signed assignment of contract with you for a fee. They are paying for the right to step into your place and fulfill the obligations that you and the seller have set forth.

Collect a deposit from your buyer as you hand over the purchase agreement and obtain a signed assignment of contract .  This will help you to separate the decisive, action taking investors from those that have a case of paralysis of analysis. If your buyer is serious about moving forward, they will have the wherewithal to hand over a deposit in good faith thereof.

Since it’s your deal, you would be using your title company who is most knowledgeable and skilled in the art of wholesaling properties and the manner in which you operate your business. You will provide your title agent with instructions about the remaining funds that will be released to you upon settlement. If your title company is not able to release those funds to you at that time, it’ll be necessary to execute an addendum with your buyer.

An addendum attesting to the fact that you will be both be at the closing and the buyer ( your assignor) must pay you in the lobby immediately following the closing, along with a Notarized Memorandum of Agreement would help to protect your interest.

Assignment fees can be very lucrative in certain markets. On my very first wholesale deal- the assignment fee was $7,000 and I had never done it before….so not bad right? My third wholesale deal allowed for a $40,000 fee because it was a hot, smoking deal. The buyer, a contractor was thrilled to get that property so that he could rehab it and make his profit.

Hot, Smoking deals are out there….if you’re not paying attention, you’ll bump right in to one of them!

So, with that- see your vision, steady yourself, prepare with vigor and head in that direction with renewed energy, confidence and persistence…and remember to enjoy the journey.

Karen Roberts

Eddie Case asked:

Together, my partner and I have wholesaled a combined 450 Deals over the last 7 years. And the majority of these deals were funded either one of two different ways and they are:

1.) CASH ONLY DEALS. Where the Investor/Buyer brought all CASH to the closing to purchase the property. My FAVORITE type of buyer (cash is king:))!

2.) HARD MONEY (Private funding). Hard Money is \”private money\” meaning, there are no traditional institutional banking guidelines associated with the money. The money comes from private individuals who lend their own money directly to the wholesale buyer. The money is termed \”HARD MONEY\” because the point (4-10 points per deal) are high, and the interest rates are High (12- 20 %) and the term averages of ONLY 12 months! Now that\’s some HARD DANG money!

Hard money has some pretty \”harsh\” terms, but also has it\’s benefits! Here are a few of the GREAT benefits of using hard money as a real estate investor:

* Your deal is usually a true \”NO MONY DOWN\” deal! You can\’t beat that! Hard money lenders can lend you your:

a.) purchase price

b.) repairs costs

c.) all of your closing costs

And roll it all into one mortgage. Also, Hard Money Lenders do not require you to put the typical 10% to 20% down on the property you are purchasing (conventional banks do!)

* Hard money lenders will usually lend on any property regardless of its current condition, whereas most conventional lenders (Banks) will not!

* Hard Money Lender do not report to the Credit agencies! So your debt to income ratio is NEVER effected regardless of how many hard money loans you currently have open! This means you can do multiple deals at once using different hard money.

* A lot of hard money lenders will even give you 3-6 months after closing on the property before you need to make your 1st mortgage payment to them. This gives you time to repair the property and rent it or sell it before your 1st payment ever comes due! This really lowers traditional \”holding costs\” tremendously!

So as you can see, Hard Money has been specifically designed to accommodate the special needs of the real estate investor. Even though the money has \”hard\” terms, it works so well for real estate investors. Typically, most investors who borrow hard money only stay in the loan for an average of just 6 months, before either refinancing-out, or reselling the property in question.

We as the Real Estate Wholesaler, NEVER own anything long term. The longest we EVER own is a few hours during a \”double closing\” more on \”double closings\” some other time). And if we are \”assigning contracts\” we NEVER own at all.

So, we never have to \”Qualify for financing\”. When a deal is structured with a Hard Money Lender, and a \”double closing is going to get the deal done, the same Hard Money loan being used for the deal, will close both sides of the transaction (between You and the Original Seller AND You and your Investor/Buyer). So, only your Investor/Buyer needs to qualify with the Hard Money Lender for the deal! This is because your Investor/Buyer is the \”end user\” of the money and is the one guaranteeing the loan, NOT YOU! Case Dismissed!

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Eddie Case asked:

As a Real estate Wholesaler you are looking primarily for two resources to make this business run continually, and they are:

1.) Motivated sellers          2.) Investor/ Buyers

One without the other makes it impossible to Wholesale Real Estate, PERIOD! So how do we find the wholesale priced properties? Ready? We first have to find the MOTIVATED SELLERS. It\’s really just that easy, find motivated sellers and you have found all of the deeply discounted real estate you will ever need.

Motivated sellers are a unique breed of seller of real estate because they HAVE TO SELL their property FAST! There are a lot of different reasons that a seller is Motivated to sell such as:

* Divorce

* Foreclosure

* Illness

* Inherited an unwanted Estate Property (Probate deal)

* Loss of Job

* Sudden Job Transfer

* etc.

And many other reasons that cause an individual to become a motivated seller who needs to sell Immediately! But we ONLY want to deal with Motivated Sellers!

So we are really just looking for motivated sellers and NOT the real estate itself! If seller is NOT Motivated to sell at a deep discount, there is no way that you are going to talk that individual into selling you their property at a 40% to 60% of it\’s current fair market value! NO WAY AT ALL (would you?)! And wholesalers need to be buying at these values to make a TRUE wholesale deal work!

So how do we find MOTIVATED SELLERS is really the question of the day! There are many different ways to locate MOTIVATED SELLERS, and most of the methods of attracting motivated sellers revolves around the each wholesalers marketing strategies and the many different types of advertising campaigns that are implemented and run simultaneously, such as:

* Direct mailing postcard campaigns             * Internet Network Marketing

* Classified Advertising                                   * Bandit Sign Campaigns

*Internet-based classified advertising          * Billboards (advanced marketing technique)

* TV (advanced marketing technique)           * Radio (advanced marketing technique)

There are a lot of different ways to make your phone ring with motivated sellers! The pro\’s know that you do not chase motivated sellers around, you make them come to you and beat on your door! But one thing is for sure, if they don\’t know that you want to buy their property, they will never call you!

So there is no real magic for attracting motivated sellers other than good old fashioned marketing and advertising. I know many wholesalers who do nothing more than postcards and bandit signs, and do 2-4 deals every single month of the year. They are easily making high 5 and 6 Figure incomes each and every year!

So there you have it in a \”nutshell\”! Find the MOTIVATED SELLERS, and you have found the wholesale priced properties that all wholesalers need to be SUPER SUCCESSFUL!

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Eddie Case asked:

Other than a very small \”Earnest Money Deposit\” of $ 100.00 or less, the Wholesale Investor never spends another dime putting profitable wholesale real estate deals together!

Wholesalers are NEVER the \”end-users\” of the real estate that we put under contract with motivated sellers. So, wholesalers avoid ALL of the typical real estate investing costs that the \”end-users\” will have to deal with.

Such as:

1.) Holding Costs

2.) Repair Costs

3.) Closing Costs

Successful Wholesalers NEVER pull a dime out of there pocket after the sales contract is finalized between themselves and the MOTIVATED SELLERS, PERIOD!

As wholesalers we are just transferring the interest in a real estate contract between the original seller and ourselves, directly over to the \”end-users\”. The end-users are our Investor/Buyers that want to take ownership of the property that we have under contract with the Motivated Sellers. The end users are the ones that will be buying-fixing selling or renting-out the property we have an interest in.

The \”end-users\’ are the ones who will be putting their money into the deal NOT THE WHOLESALER! NOT YOU! Wholesalers keep their money in their pockets where it belongs. Wholesalers DO NOT risk their money. Wholesaling is the most RISK-FREE type of real estate investing with out a doubt! Nothing else comes close!

So, other than our very small earnest money deposit ($1.00 to $100.00) the wholesaler TRULY will always be working in a \”NO MONEY DOWN\” deal environment.

Remember, only the \”end users\” in a wholesale deal invest and risk money! Wholesalers are true \”middlemen\”. Meaning, we only pass the interest in the real estate in question from one party to the next party and collect a \”fee\” for doing so. We are sort of acting a \”brokers\” of distressed real estate. Making a connection between Motivated sellers and their distressed property, and the Investor/Buyers who want to own those distressed properties. And for providing this service, the wholesaler gets paid a his fee.

Once the Motivated Seller and the Investor Buyer have been joined together by the Real Estate Wholesaler, the Real Estate Wholesaler is paid his Assignment Fee , and is then \”OUT OF THE DEAL\” forever! PERIOD! END OF DEAL

Then its on the next profitable Wholesale Deal for the Real Estate Wholesaler!

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J. J. Mangan asked:

How do I find buyers to sell my properties to?  That is the ultimate question in today’s buyers’ market.  Gone are the days of sticking a For Sale By Owner sign in the yard and receiving multiple offers within 24 hours.

No, today’s market dictates that you have a plentiful supply of ready buyers to whom you can sell your wholesale deals.  In this article, I’m going to show you some of the very best ways of locating wholesale buyers.  Generally, these will be buyers that are willing to pay cash for your deals.

One of the very best ways to find buyers is to figure out who has already bought similar property in your market.  To do this, you’ll need to find a list provider like RealQuest.com, MelissaData.com, or even the tax roll in your local county.  What you want to do is get a list of investor buyers that have purchased houses in the last 6 months within the area(s) where you want to sell wholesale deals.  These will be absentee owners for whom their mailing address differs from the property address.  You can use zip codes to narrow down the relevant area.  Once you obtain this list, mail everyone on the list a postcard.  Your postcard need not be anything fancy.  I like to use the U.S. Postal Service’s system available through Click2Mail.  Just send a simple card with message on the back of the card stating that you saw they bought a property in the area recently and wondered if they’d be interested in a deal you have available.  Drive them to a website squeeze page to capture their contact information (so you can add them to your email buyers’ list).  After they enter their info., direct them to the website where you display your deals.  The big advantages to this method over all others are 1) you’re capturing their contact info, so even if they don’t buy a deal from you now, you’ve got their email and can contact them about future deals; and 2) you know that these buyers are legit because they’ve already shown the ability to close on similar property.

Another great way to find wholesale buyers is to blanket the area around your deal with bandit signs.  These are the ugly 18” x 24” coroplast signs you see everywhere on the side of the road and on telephone poles.  Yes, they’re ugly, but they’re effective.  On the signs, hand write a simple message like this – “3 bed/2 bath house, needs work, worth $100k, will sell for $40k CASH”.  You’ll get a ton of phone calls from these signs; the caveat is they won’t all be qualified, so you’ll need to sift and sort a bit to find the true players.  One word of advice:  make sure you or someone working for you is able to pick up the phone when buyers call.  That way, you can also request their email address, and you don’t have to worry about them not leaving a message.

A third way to find wholesale buyers is the use of social media.  This is a relatively new method, but your competition is already likely building their buyers’ list through websites like Twitter and FaceBook, and you should be doing the same.  The best way to do this on FaceBook is to join every real estate-related group in your area, then friend everyone in the group.  Also, consider forming your own group and attract buyers to you that way.  On Twitter, make sure you provide great content in your posts, and people will begin to follow you.  Then, when you have a wholesale deal available, post it to your accounts.

There are many other ways of finding wholesale buyers that work in today’s market, but for the purposes of this article, I’ve focused the discussion on three of the best methods that I know are working today.

Eddie Case asked:

If I\’m discussing this question with a  brand new real estate wholesaler, the answer to this question is two-fold. The first half of the answer is this:

Before you can really begin wholesaling like a Pro there are 2 major tasks that must be accomplished in the beginning of any real estate wholesalers career. And they are:

1.) A wholesaler must first build his Investor/Buyers List! This is the list of the people who are ultimately going to become the end users of every single property that the wholesaler will put under sales contract.

2.) The second major thing that a new budding wholesaler will have to do is build his \”Back Systems\” that will continually bring him a fresh supply of wholesale priced properties again and again!

These two vital ingredients that EVERY successful real estate wholesalers must build, control, and maintain, are the \”Secret Backbone\” to this very lucrative business!

A new investor if trained properly on how to build these two systems can expect the building process to take approximately 30-60 days. Now that\’s not bad considering the trade-off which is a 6 to 7 figure income if done correctly. Where else can you get an education that only takes 1-2 months to grasp and then can produce that kind of income? To use a comparison, doctors go to school for 8-10+ years and many never see this kind of income!

But here\’s the BEST PART! after the initial setup of building your buyers list and building your wholesale property locating system, the average actual deal time is just a few hours! Maybe 1-2 Hours per deal! The average deal profit for successful wholesalers is between $ 5,000.00 and $7,500.00 per deal!

An average full time wholesaler will do 2-5 deals per month. Do the math! This business has incredible profit potential.

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