Wholesale real estate

PackManBrainlure
PackManBrainlure

Ask a guy who made $52,000 this month wholesaling real estate anything.

Other urls found in this thread:

amazon.com/Estate-Wholesaling-Residential-Commercial-Investing-ebook/dp/B06XBZS52W/ref=sr_1_5?s=digital-text&ie=UTF8&qid=1489866666&sr=1-5&keywords=real estate wholesaling
thewholesalerstoolbox.com/wholesale-real-estate-contracts.html
mega.nz/#F!DpAz2IgQ!nW7bPNnpJFk5CAV3ypiaHw
youtube.com/watch?v=dQw4w9WgXcQ

SniperGod
SniperGod

How can I do the same thing as you?

WebTool
WebTool

What risks do you carry?

LuckyDusty
LuckyDusty

How much did you invest into Eth?

BinaryMan
BinaryMan

Zero risk and zero money invested. I get the house under contract and sell the contract to my friends. Four houses with a 10k markup, one house for 5k, and one house for 7k.

CodeBuns
CodeBuns

How do you get the house "under contract?" (Possess no knowledge of real estate.)

StrangeWizard
StrangeWizard

Seller: "please buy my house it has a bunch of issues so I can't use a realtor"

Me: "ok. Here's my really low offer. Sign this contract and I'll buy it."

Seller: "deal."

Then I call my rich friends in real estate.

Me: "want another rental? This one is only xxx dollars plus my 10k fee."

Buyer: "that's a fucking deal. Sold."

Me $$$$$

Supergrass
Supergrass

how many nightly jizzshots to the face do you take

Fried_Sushi
Fried_Sushi

One. Generally my own. Marriage has increased my need to masturbate.

Need_TLC
Need_TLC

What state are you based in?

Garbage Can Lid
Garbage Can Lid

One of these:

Arizona
Oklahoma
Arkansas
Texas
New Mexico

Crazy_Nice
Crazy_Nice

where do you find rich friends?

Harmless_Venom
Harmless_Venom

Look up people who already own a lot of real estate.

Boy_vs_Girl
Boy_vs_Girl

Any books you used for this? Any easy or dumb mistakes you learned from? Did you have a mentor? Is this your full time jig now? Thx

MPmaster
MPmaster

Thanks man, quite interesting

King_Martha
King_Martha

Wholesaling can be really lucrative if you have a good client base. The coolest part is you don't have to have any licensure of any kind, at least not in Florida. The guys I work with (I'm a real estate investor) basically research via the tax roles what houses are owned by people living at different addresses than the property itself and mail/direct contact them and make an offer for the house. They then sell the contract to me or someone like me. I buy the house, put a little $ into it to fix whatever issues. Then rent it or rent-to-own it to someone.

w8t4u
w8t4u

Think and grow rich. Rich dad. Ron legrand. Dean grazioze (sp)

Yes it's full time.

MistKes? Offering too much and being unable to find a buyer. It happens. Sucks when it does but I'm not out any money.

massdebater
massdebater

This guy fucks.

This is pretty much exactly how it goes, but I market to sellers a different way. Lots of "we buy houses" ads

iluvmen
iluvmen

how would someone (wageslave) do this who doesn't have the money to buy a house?

What kind of template is used for the contract? how do you insure that it's legally binding and sellable to a third party?

kizzmybutt
kizzmybutt

I hear people say they "put money into it" or just generally "fix it up." When they say that, you hire people to repair it or you put in work yourself?

Gigastrength
Gigastrength

I'm not too big a fan of Rich Dad but TaGR is cool. Thx user

Techpill
Techpill

Everyone was a wageslave before they weren't. I don't use any of my own money to do this. I started out wanting to be a "flipper" but then I realized wholesaling was much easier. I work about 10 hours a week.

TreeEater
TreeEater

Either. But I personally do zero work to the property. I hate projects.

PackManBrainlure
PackManBrainlure

where/how can I learn more about this?

Carnalpleasure
Carnalpleasure

Biggerpockets dotcom.

Emberburn
Emberburn

okay thanks, last thing, any thing you wished you'd have known when you started doing this?

Firespawn
Firespawn

Yeah. I wish I had started doing it when I was 22 instead of 32.

SniperWish
SniperWish

And I wish I had known which deals to walk away from.

RumChicken
RumChicken

which ones are those?

sorry I was wondering, this contract you write for the seller, does it say they promise to sell to you alone but you are personally not under obligation to buy?

CouchChiller
CouchChiller

I'll ad that, even though this is my best month ever, it's not my best deal ever. I made 30k on one deal two years ago. I bought a house for 65k and flipped it as is for 105k. I made 30k and my money guy made 10k. He was stoked.

DeathDog
DeathDog

Deals that were priced too high.

That's what a contract is. An obligation to sell only to me.

PurpleCharger
PurpleCharger

but you are not under obligation to buy?

I ask because I have no cash and if they agree to sell only to me and I can't find a buyer for the contract then I'm up shit creek. I guess you would just terminate the contract at that point right?

CodeBuns
CodeBuns

If you try to renovate a house via the "retail" route/rate (calling a company or going to home depot), you'll never make any money.

Some alternatives that I've used:
Do the work myself (the shit I know how to do)
Hire an individual, rather than a company that needs the work and offer to help to lower his rate. I learned how to tile this way. I had to be a bitch carrying heavy ass boxes of tile and mixing tile mortar, but I learned how to tile and I got a house done for less than $2 per square foot.
Literally YouTube. I watched a shitload of videos on YouTube about how to replace a roof. I bought the material, did the work and it's been leak free through heavy rain for over a year.

Ignoramus
Ignoramus

Correct. "Sorry, my partner backed out so I have to, too."

Lunatick
Lunatick

Dunno if would vouch for this or not but you can check this book out, user

amazon.com/Estate-Wholesaling-Residential-Commercial-Investing-ebook/dp/B06XBZS52W/ref=sr_1_5?s=digital-text&ie=UTF8&qid=1489866666&sr=1-5&keywords=real estate wholesaling

Sir_Gallonhead
Sir_Gallonhead


Everyone was a wageslave before they weren't. I don't use any of my own money to do this. I started out wanting to be a "flipper" but then I realized wholesaling was much easier. I work about 10 hours a week.

Yeah dudes, save your money and work into things slowly. It might take 10 years but the time will pass anyway, you might as well accomplish some shit

Boy_vs_Girl
Boy_vs_Girl

I haven't read it, but yeah, I'm sure it outlines exactly what I do. I've considered writing a book about what I do, or even coaching. But not yet. I'd like to do this for a few more years before I do.

5mileys
5mileys

thanks for all the advice if this works I won't have to spend money on college

massdebater
massdebater

how do you find people trying to sell their house but cant use a realtor?

Inmate
Inmate

It works. You just have to bust your ass. There were many times I thought about quitting but didn't. I'm 5 years into this. It has taken me this long to get this far.

Ps. If you do this and are successful at it you won't want to go to college.

lostmypassword
lostmypassword

I advertise.

King_Martha
King_Martha

thewholesalerstoolbox.com/wholesale-real-estate-contracts.html

I'm looking into realty myself, i didn't know agreements like this existed

so I can literally offer some goy a ocntract to buy his shithole for x amount pending repairs with no cash down and then sell the contract?

is that the gist of it or do I need to pay upfront? would the word documents in the link above be considered good examples of buyer agreements?

viagrandad
viagrandad

Just use the standard real estate purchase agreement used in your state. I'm sure those will work fine, as long as they are legally binding.

askme
askme

am i right in how i'm interpreting the agreements, though? it's just a contract to buy their shithole for x amount if x is done? because I'm not a lawyer but I can't find exactly where it says when and how said payment occurs

iluvmen
iluvmen

I'm op btw. I'm off of wifi so it changed my handle.

lostmypassword
lostmypassword

Payment occurs at closing. The title company has to do their thing first.

hairygrape
hairygrape

I have a thing called "earnest money" on our forms, is that like a security deposit? is there a recommended amount?

Firespawn
Firespawn

I put down $50. That is literally my only risk. Well that, plus my reputation.

DeathDog
DeathDog

Mind if I ask you dense-seeming questions about a couple things on the forms so I can streamline the process?

I've got a title/escrow company lined up but there's a couple things I wanna know before I get into this

Poker_Star
Poker_Star

Yeah, you put those cheap flyers on every street post, "we buy houses with cash"

GoogleCat
GoogleCat

That appeals to his target market. In my area the people selling to wholesalers are either desperate wagecucks, people that have inherited a house they don't want, or old people who are moving into a nursing home.

Either way, in my experience, wholesalers are stackin chips.

Spazyfool
Spazyfool

So why is it not something you engage in? Just a preference for what you do or you know you make more the way you're already doing it? Do you think this would work in any state, save for somewhere like NYC, etc.? How does one engage in acquiring networking partners such as realtors and investors without the reputation or professional backing of an organization or degree or something of that nature? Thanks!

Crazy_Nice
Crazy_Nice

flipping houses
the 90s called, they want their meme scheme back

Gigastrength
Gigastrength

I'm a buy and hold real estate investor. So I buy undervalued properties, make improvements, then rent them or rent-to-own them to others. I don't engage in wholesaling because I've already invested significant time and effort into what I'm doing.

Further, I like the month over month returns I see from this style of investing. I've made some contacts in terms of laborers that do work for less than the "going rate".

Wholesaling is possible in many markets. I live in the Tampa area, which is the 3rd fastest growing market in the US. My circumstances are different than yours. However, someone is doing this is your area, which means it is possible if you're willing to work.

You should reach out to everyone you can; landlords, real estate agents, wholesaling companies, brokers, hard money lenders, etc.

As mentioned in earlier comments, there are books available but there are also tons of free sources online.

Good luck, user.

Methshot
Methshot

Flipping houses is still very profitable, you just need the right market, the right sellers, vendors, and buyers.

PackManBrainlure
PackManBrainlure

Thanks user, much appreciated

RumChicken
RumChicken

Sure

CouchChiller
CouchChiller

Bingo. But that's not the only place I advertise.

ZeroReborn
ZeroReborn

Get out of the bucket, crab.

DeathDog
DeathDog

I had some good questions on my mind but I'm drawing a blank now

I guess a simple/stupid question is: what is the process for reselling a purchase contract? What is that called? And how much would you typically pay for an agreement? Do you only look for junk homes or run the gambit?

Need_TLC
Need_TLC

"Assignment"

I'll buy anything I can make money on. Gotta got it for 60-70 cents on the dollar.

Harmless_Venom
Harmless_Venom

Do you ask homeowners if they want to sell or do you just leave dragon dildos on their doorstep saying "sell me your house call me bby"

And do you have competition directly from realty companies or do they buy your shit because they're lazy?

King_Martha
King_Martha

theres no secret in marketing in real estate. If there's a way to find a house then someone has written about it in a book.

Realtor's aren't really my competition. They are looking for pretty houses that sell for top dollar. My buyers are people with day jobs who don't have time to field 30 calls a week, but they want to expand their portfolio.

Bidwell
Bidwell

I know a guy who does alot alot of house flipping and development, so I'll see if he's interested in a service like that and/or if he already knows a guy into it

This seems right up my alley really, what do your days consist of? Do you go kick bricks and look for deals?

Sharpcharm
Sharpcharm

It used to be. As I made more and more money I spent my profits on more marketing. Now I pretty much wait for the phone to ring. To make the 52k for this month I probably worked a total of 10 hours.

Get the call

Look st the house and make my offer

Call my friend and look at the house with him/them.

Go home and wait for the next call.

Emberfire
Emberfire

and you try to make sure the person who assigns your contract doesn't get fucked for your reputation sake, correct? am I to assume lots of wholesalers are just turn and burn niggers who don't care about the person they sell it to?

LuckyDusty
LuckyDusty

If you succeed, email me. Johnson12345
street12345
apts12345
at gmail

Take out the numbers for the correct addy

Whatever google search results come up from searching this email aren't associated with me. FYI.

eGremlin
eGremlin

Where are you based? I'm in the PNW. I'll shoot you an email today

GoogleCat
GoogleCat

If they get fucked that's their problem. They're the ones who agreed to buy it. I worry about my rep on the buy side. Imagine google reviews that say "this guy said he was going to buy my house but didn't."

Yes, lots of niggers try to do this. Literally. But imagine you're a little old lady selling your 40 year old shitter house. Do you trust the clean cut white man or the dirty nigger?

Supergrass
Supergrass

HOL UP

You sayin we wuz realtors n shit?

Booteefool
Booteefool

No, other wholesalers. You'll see a lot of blacks doing it. Or at least trying. It's lazy money. And niggers love lazy money.

There was a nigger in my area who was doing this before I got started. I know for a fact he made 12k on one deal. Instead of buying more advertising he spent it and continued just putting up bandit signs. Now I don't see him anymore.

askme
askme

user, do you have an LLC that you use for all this?

lostmypassword
lostmypassword

also, does the seller know any of this info? Do they know you flip it/wholesale, as some wholesalers disclose, or do you keep this personal? Looking at it now, I'm seeing discussion of a "double close" method where you use escrow so as to not disclose the profit you're making to the seller.

Methshot
Methshot

is good old craiglist effective to advertise?

Flameblow
Flameblow

Yes

WebTool
WebTool

I don't tell them what I'm doing. I just let them know that my money partner is going to want to see the house. As far as they know I'm the one buying it.

I have done the double close method. I only do that if I'm making a killing and I don't want either party to know how much I'm making.

BlogWobbles
BlogWobbles

I advertise in many places, but not on Craigslist. I'm looking for uninformed sellers and uninformed sellers don't go on Craigslist.

CouchChiller
CouchChiller

What did you wholesale?

JunkTop
JunkTop

uninformed

Probably facebook and such, then?

and looking into things I can do bandit signs, it doesn't even need a license or anything. why the hell haven't i heard of doing this before? i could've been scalping old people's homes for 6 years now, fuck

also I see the mortgage thing meme'd about alot by wholesalers, what does that entail? you take their mortgage debt on or does it get wiped before you acquire the deed? I wouldn't want to inherit a guy's mcloan, is that something you specifically look out for or do you have faith in your contracts?

New_Cliche
New_Cliche

buttcoiner detected

w8t4u
w8t4u

6 houses

likme
likme

That's a deep question and requires a lot to type but I'll send you in the right direction: google "buying real estate 'subject to'"

Deadlyinx
Deadlyinx

I'm about to hop back on wifi so it may change my handle again. FYI.

TreeEater
TreeEater

Op back on wifi. Testing.

DeathDog
DeathDog

Like I said earlier. I wish I had started 10 years earlier. I made 4K on my first deal and was like "ok, is this really all I have to do?"

I'm telling people here because hopefully none of you are in my territory. Anytime someone local asks me about it I tell them that it's really hard and I'm always about to go broke. Truth is ive made 6 figures two years in a row and I work 10 hours a week. On a usual day I take my son to school, pick him up, play on the internet, take my son to practice, and answer phone calls waiting for a big fish to call. I was able to coach his teams when he was younger which I really enjoyed. Early on I looked at everything - and you should too. But now I can usually tell on the phone if it's worth my time.

Raving_Cute
Raving_Cute

Is there a cost to starting? Like lasers to write contracts or making a llc. Can i do this if i find a seller and buyer and i owm no money?

askme
askme

Cost to advertise, yes. You can get the contracts online or possibly at a local title company.

I have an llc but you don't have to have one.

You will need earnest money but I never put down more than $100. If they want me to put down more I better be sure it's a screaming deal.

idontknow
idontknow

Cool thanks. Any red herrings or red flags on potential deal houses? And do you find a house with a online listing and you get them so sell their shitty house to your friend?

Flameblow
Flameblow

No. Not any of this. I advertise anywhere and everywhere. I get the house under contract, then I sell the contract to guys I know are looking for real estate.

The key to this is getting it for such a low price that you can tack on thousands of dollars and it's still a deal to someone else.

WebTool
WebTool

so you're telling me that a purchase agreement with a homeowner can unironically let me fuck jews out of their foreclosurebux? all as long as I use subject to?

PurpleCharger
PurpleCharger

I split my time between the city and the countryside. The city has crazy house prices in most parts. Do you go for the cheapo stuff or the valuable stuff? Nice thread I'm very interested so thanks.

New_Cliche
New_Cliche

Common misconception is that the bank makes money on a foreclosure. The only person who makes money is the attorney who files it. If it sells for more than the bank loan + attorney's fees then the bank has to give it to the foreclosee.

But the answer to your question is essentially "yes". But I don't like subject to and I wouldn't do it unless the circumstances were perfect. (Low monthly payment, low loan amount, equity in the property, etc)

Spazyfool
Spazyfool

The cheaper the neighborhood, the less the homeowner expects to get, the less I am able to offer when I meet them. Then the more likely I am to be able to mark it up and assign the contract.

But stay saw away from places like fergadishu. Even my black investor friends stay away from negro war zones.

Need_TLC
Need_TLC

I see alot of waryness about subject to, but specifically how I'm seeing it worded in pic attached, doesn't this mean that my purchase price is LOWER if they owe a mortgage and I do subject to without assuming their loan?

Am I even reading this correctly?

so if I find a house "worth" 120k that sold back in 2008, an old widow underwater on her mortgage to the tune of 50k, and offer her 75k on a cash purchase agreement subject to existing mortgage, and then I subtract the outstanding from MY purchase cost?

How the fuck could you lose?

Booteefool
Booteefool

I'm not OP, but my dad had tons of business in real estate and I can answer most/some of these questions

Real Estate wholesaling is easy as shit. Basically, you find a property for a nice price, and try to sell it to someone else without ever getting your money involved.

Step 1: Find a well-priced estate
Step 2: Talk to the owner, ask for paperwork (Not in your name. I don't know how this part works specifically)
Step 3: Find an 'investor' willing to buy this house for more than what you bought for.
Step 4: Give the contract to the Investor, he signs it, pays your the money, you pay the house's previous owner the money they wanted, and you walk away with the deficit.

He carries the risk of not finding an investor, and obviously, it's rare to find a good amount of houses with good prices considering that there are TONS of wholesalers out there. TLDR to your answer: Unstable income, and sometimes you might have to take money from your pocket.

---

Just realized that OP was answering, just not by tagging people. I don't want to delete this, so I'll post either way.

Harmless_Venom
Harmless_Venom

Also holding costs are higher for higher prices homes so the offers have to be lower. And rich people are usually smart enough to not need to sell their home fast. It's the poor dummies who call me. Unless they are an orphan or a widow, I try to take them for everything I can.

King_Martha
King_Martha

How much have you made each year since you started? I wanted to do it on the side (Been thinking about it since I read about it a few months ago)

So, how much have you made each year, in figures.

Spamalot
Spamalot

its another u need social skills n have friends already in the businesse, thats how you get rich episode

Evil_kitten
Evil_kitten

poorfag NEET detected

Bidwell
Bidwell

The guy on the right is me

iluvmen
iluvmen

700% profit with cryptos this month

how does it feel scamming friends while autistic nerds are literally getting rich with memes?

Techpill
Techpill

Did you realize your gains yet?

TreeEater
TreeEater

not using crypto gains to get a farm with cute chickens

faggot.

PackManBrainlure
PackManBrainlure

how do you find rich people to buy the contracts?

Burnblaze
Burnblaze

Can I have a job? I'm very smart and hardworking. I'll literally ditch my university and come help you get even richer.

CouchChiller
CouchChiller

Really dude? Really now? Have some dignity and self-respect. Learn and apply these things. Teach yourself. Build YOU. Entrepreneurs generally don't wanna help people unless they're profiting from it and you know why? Because nobody helped them!

DeathDog
DeathDog

Something doesn't make sense to me about the way you worded this. Op here.

FastChef
FastChef

It's not easy as shit all the time. It's hard to find the deals and it's hard to convince folks to sell at your price. I made 50k this month but it also might take 2 or 3 months for another deal. That's why I pay a lot to market.

How am I scamming friends? I'm happy you made 700% on imaginary internet points. I want lots of people to be shccessful. But remember, my return is infinite. I put $0 of my own money up. What I do is risk free essentially.

StrangeWizard
StrangeWizard

We'll yeah. You have to get off your ass at some point if you want to be successful.

Ignoramus
Ignoramus

Never less than 60. Over 100k the last 2 years.

Illusionz
Illusionz

That's the easy part. People who own rentals in that area. If you have a cheap deal finding the buyer is the easy part. I've got guys who ask me to call them first on my deals. Lots of folks asking to partner with me.

Supergrass
Supergrass

You don't need me. You can do this on the side.

These captchas are really fucking annoying.

Nude_Bikergirl
Nude_Bikergirl

Doesn't make sense to me either, these are just examples of the contacts you're talking about and the way it's written says you subtract the amount due on mortgage from your cash purchase cost.

so, if I have a purchase contract subject to existing mortgage where I also add
NO JUDGMENTS: Seller warrants that there are no judgments against the subject property, and that there is no bankruptcy pending or contemplated by any titleholder.

wouldn't I be guaranteed against getting screw'd?

How long are your contracts, typically?

Lunatick
Lunatick

1. Market
2. Look at lots of houses and make low offers
3. Get house under contract. (I'm not explaining this. Google is your friend)
4. Take contract to investors and offer for price + markup
5. Assign contract
6. $$ at closing
7. rinse and repeat

Lord_Tryzalot
Lord_Tryzalot

Subject to sounds fun but it's really involved if you do it correctly. It's also high risk if you fuck up. (Lawsuit). Stick to wholesaling and learn more about subject to before you do it.

Spamalot
Spamalot

But wouldn't that exclude me from people underwater on mortgages? Who desperately sells something without some sort of liquidity problem?

girlDog
girlDog

Yes it would.

viagrandad
viagrandad

This really is the magic formula. I'm on Veeky Forums teaching kids to make thousands of dollars. What a time to be alive.

SomethingNew
SomethingNew

What if I say fuck it to mortgages, don't write it into the contract, and buy/assign it anyway? Is that illegal?

takes2long
takes2long

No. That's a great way to end up in jail for fraud.

massdebater
massdebater

fug

so what the hell am i supposed to look for if I can't look for those kinds of properties? widows desperate to cash out? heirs like you mentioned?

iluvmen
iluvmen

the modern world is gay.

Flameblow
Flameblow

LOts of folks need to sell. Houses that need too much work to list, inherited houses, angry spouses who need to sell the house to settle the divorce, etc.

I've even had folks sell to me at a 40% discount because "we don't want people walking through our house." No lie. I was floored. And I sold it for a 15k profit 4 hours after buying it. (I actually purchased this one. I owned it for 4 hours).

StrangeWizard
StrangeWizard

top kek, what the fuck is wrong with people

I hope I can get gud like you senpai

idontknow
idontknow

Thanks so far for your replies. This is probably the most useful thread I've seen on Veeky Forums since lonnie deals.

1. Market
Basically, you acquire a decent list of people to sell to around your area?
2. Look at lots of houses and make low offers
So you determine what the market value of the house is and try to low ball as much as you can? How do you find these motivated sellers? You mentioned not using Craigslist, and someone mentioned they might be on Facebook. Is Zillow a good site for this?
3. Get house under contract. (I'm not explaining this. Google is your friend)
4. Take contract to investors and offer for price + markup
Is this legal? Don't you have to buy the house and then sell it before you can give the contract to someone else?
5. Assign contract
How do you negotiate top dollar for the contract if they know what you bought the house for?
6. $$ at closing
7. rinse and repeat

Seems like a good list. About the captcha - go to Settings > Replying > Legacy captcha > save, refresh. Type kike as the second word. 20% failure rate

kizzmybutt
kizzmybutt

Lmao sure you did kid

takes2long
takes2long

1. No, I don't market for buyers unless I have a house for sale. I'm marketing for sellers.

2. You can also "drive for dollars" (industry term) and send letters to the owners of shitty and/or vacant houses.
4. Yes. No.
5. I don't negotiate top dollar. I leave meat on the bone so they can make money. That's why they pay my fee. It's still a deal for them.

So you've read my answers in this post and you think I'm lying? It would be one thing if my answers were shitty. Then maybe you could think I was larping. Everything I've said in this, including the $, is true.

PackManBrainlure
PackManBrainlure

Btw I'm not a kid. Late 30's.

VisualMaster
VisualMaster

Replying to a troll.

I have a serious question.
How do you make professional contacts? It seems I can deal with people in a professional sense, but I can never seem to be personal--which is the deal breaker.
Strangely, I have noticed most business people want to be "bros" and homos.
How do you leverage your relationship with business acquaintances?

farquit
farquit

You could be a serial killer and someone will still buy from you if they can make 20k on a property. Relationships matter, but in this case the deal does all the talking. Find the deals and the money will follow.

Bidwell
Bidwell

You mentioned selling the contracts to your friends.
How does one come by these type of friends, and how do you do this?

VisualMaster
VisualMaster

Hey op, what is your standard markup percentage?

CodeBuns
CodeBuns

Op here. I'm on my computer now instead of my phone so the ID may be different. I'm still learning how to chan. You have to find current real estate investors who want deals but don't have the time to look for them. Attorneys, physicians, landlords, etc. This is sales, so you have to not be afraid to pick up the phone.

StrangeWizard
StrangeWizard

It's not necessarily a percentage. If I get a house for 15K I might be able to mark it up 5K or 10K. Same with a house I get for 60K. It's not a standard percentage, but rather how much meat will be left on the bone for one of my partners. If it's less than 5K it's really not worth my time.

Sharpcharm
Sharpcharm

Do you see opportunities in the wholesale market declining? Too many people trying to do it + crackdown on regulation?

FastChef
FastChef

a house for 15k

Spazyfool
Spazyfool

It's tough in a hot market or a big city. But there are a lot of houses to go around. Also, you can't really put us out of business by regulations. People will keep doing it but they will find ways around the law. Nothing I'm doing is illegal. If I absolutely have to I have money partners I can work with to purchase the house. So I can just buy and resell if needed.

Supergrass
Supergrass

I bought one for 7K one time and turned around and sold it owner finance for 20K. They put 3K down so I was only out of pocket 4K. Then I made $230 a month for a year until I sold the note for 16K. True story.

Crazy_Nice
Crazy_Nice

What nigger-infested town do you live in?

King_Martha
King_Martha

The town I live in is about 60% white and between 75K and 100K in population.

Inmate
Inmate

You can buy a whole street in Detroit for that money kek

Deadlyinx
Deadlyinx

Then who are you going to sell it to?

Who is buying up rental properties in a low-income neighborhood?

Snarelure
Snarelure

Slumlords. Slums have killer returns. No pun intended.

Emberburn
Emberburn

You serious?
Because I imagine niggers and druggies would fuck your property up and you'd have to worry about them not paying their rent.
Beyond that you're looking at section 8 housing and you'd have to bend over backwards to deal with the niggers in the government positions to appease the low income niggers that are going to fuck your property up.

TalkBomber
TalkBomber

I have 2 shitholes that I bought for 15k each. My gross annual rental income for both is 8k a year. Even with vacancies, repIrs, and evictions I'm still making decent money.

TurtleCat
TurtleCat

kek, this. Also "hand written" and with fake mistakes.

Supergrass
Supergrass

People look at handwritten signs before they look at professional ones. They catch the eye. Same with mistakes. Just like if you see "4 sell" on a car. You get the point, but the mistake really makes you notice it.

Harmless_Venom
Harmless_Venom

So you niggers are ripping off stupid people that own houses, but don't want to own a house and know next to nothing about the market, and sell their contract to some other "investor" that wants to invest but knows next to nothing about investing in real estate?
wew fucking lad mate

Sharpcharm
Sharpcharm

God no. My buyers have been in real estate for a while. One of my buyers had a 1mm portfolio when I met him. Now he has 2mm. The deals I sell are deals. Not garbage.

Firespawn
Firespawn

Actually, the kikes are behind section 8 housing. Pic related

How do the fake mistakes work? Is it to make yourself look dumb so they perceive you as just a person looking to buy a house? Is it the same principle as Nigerian prince emails?

It's not ripping off. Some people make the mistake of marrying western women which learned that they can make easy money by divorcing their husbands, a strategy that kikes love. The state gets money, the kike lawyers make money, and the dumb kike-loving woman gets money.

If a person is behind on their mortgage payments, it is much better to sell the house for a minimal return than it is to have the bank simply take it away from you and put you on a blacklist for seven years.

SniperGod
SniperGod

How do you respond that many critics say wholesale real estate is mostly ripping off old people? Is there still good money to be made ethically?

BlogWobbles
BlogWobbles

How many houses does this buyer have?
Does he own his own property management company or does he outsource it to a business partner?

StonedTime
StonedTime

see

If the buyer is behind on their payments, it's a win for you, the buyer, and the seller.

PurpleCharger
PurpleCharger

So you're saying I should buy up as many piece of slum shit holes for niggers to live in as I can?
I do not think this works, nigger.

New_Cliche
New_Cliche

Ive never put a gun to anyone's head when I bought their house. I've had people hug me at closing. I actually had a lady hug me last week.

Spazyfool
Spazyfool

He has a mix of houses he rents, houses he sold owner finance, and duplexes he rents. He manages it all himself.

Need_TLC
Need_TLC

That's not what I'm saying at all. You sound like a crab.

Raving_Cute
Raving_Cute

Does he realize what sort of huge volatility risk he takes on?

Harmless_Venom
Harmless_Venom

He's an attorney who makes well over 6 figures. He'll be fine. Plus in my market it's relatively stable.

Sir_Gallonhead
Sir_Gallonhead

Well, if you're selling these undervalued shit hole properties to investors that think they're worth something, either you know they're shitty and don't want to get involved with what they're getting into, or you're implicitly saying that you're the middle man and you wouldn't mind being where they are. Or you're just being ignorant.

What the hell is a crab?

Boy_vs_Girl
Boy_vs_Girl

Op here. I'm off of wifi so it changed my handle.

viagrandad
viagrandad

You're mistaken in thinking I only deal with shotholes. Here are some real world numbers on my last 3 deals

Buy for 80, sell to partner for 85. Needs 20k in work and will be worth 130 fixed up.

Buy for 45 and sell to partner for 56. Needs 65k in repairs. Will be worth 150 fixed up.

Buy for 30 and sell for 40k. Needs 30k in repairs. Will be worth 100k fixed up.

idontknow
idontknow

I'm going to give you an email address.
I'm a serious real estate investor.
If you want to make some more money shoot me some more info, if not that's cool.

[email protected]

Nojokur
Nojokur

what do you do in real estate

Illusionz
Illusionz

I fucking people like you and your friends.

You are a bunch of greedy useless blood suckers who do nothing of value and profit from poor and middle class people, make them suffer and have no ethics or humanity whatsoever.

You are scum, same level as, if nota worse than, imprisoned criminals

Kys

Supergrass
Supergrass

I flip houses.

MPmaster
MPmaster

T R I G G E R E D

lostmypassword
lostmypassword

Found the shariablue poster! Thanks for taking time out of your constant downvoting on the_donald to comment in my thread.

If they couldn't sell to me then what would they do? I had a young couple call me last year who had 2 weeks to sell their house or they lost it. People sell to me for a lot of reasons. I quit asking why a long time ago.

#MAGA

Ignoramus
Ignoramus

You could help them sell at a good AND ethical price, and charge them a commission. Don't say there are no alternatives.

I do technical stuff, I use my knowledge to help people/companies protect themselves, and I'm constantly learning. I get paid well because without the stuff I do, they could lose tons of money.

Your kind, instead, profits from the suffering and ignorance of other people. You could at least be ethical and help them, while also have a decent life. But you decide to be the greedy middleman and fuck buyer and seller, while making rich people even richer.

Stark_Naked
Stark_Naked

virtue signalling

Soft_member
Soft_member

Can confirm that southern arkansas is great if you're into shady real estate shit.

w8t4u
w8t4u

1. No I can't. That's illegal. It's called being a realtor without a license.

2. Feelz>Realz. You are what is wrong with America.

Methshot
Methshot

What about wholesaling commercial properties or any other non-residential properties?

StonedTime
StonedTime

1. No I can't. That's illegal. It's called being a realtor without a license.
But you could.

2. Feelz>Realz. You are what is wrong with America.
I'm not even murrican, you tard. What's wrong with america is america itself. just look at yours, bragging about being a retard that can't do anything else other than take advantage of dumb people and selling houses to gangsters and shit, making big profits from this and not giving a shit about people.

Ignoramus
Ignoramus

Just fuck off already.

I live in Tompkins county, where a shed starts at $100,000. Is there still money to be made? Is finding a buyer harder in an overpriced market?

Raving_Cute
Raving_Cute

People do it. I never have, but it can be done.

Crazy_Nice
Crazy_Nice

It is, yes. I would try to focus on an area near you with lower home values.

viagrandad
viagrandad

All right, thanks. This thread was a good starter, I'll some more research on my own now.

Sir_Gallonhead
Sir_Gallonhead

Do they need to be run down and a piece of shit?

PurpleCharger
PurpleCharger

LARPing this hard

Where do you find the people wanting to sell their house?

VisualMaster
VisualMaster

OP here. Off of wifi so my handle may be different.

Not a larp. Promise.

I advertise for sellers.

BinaryMan
BinaryMan

Thank you OP for this high quality thread. What do your buyers typically do with the houses? Flip, rent, or both? If they flip, is that pretty high risk? I have a good income, some capital to throw around but not a lot of time or knowledge about local real estate market so I may be interested in the services of a wholesaler.

Fuzzy_Logic
Fuzzy_Logic

Flip and rent.

Flipping is always high risk. That's why I like wholesaling. Zero risk more or less and I'm in and out.

If you see a sign that says I buy houses, call them and ask them to put you on their list. Be careful though. Don't go on their word. Make sure the rehab and sales values are realistic.

Poker_Star
Poker_Star

Do most of the houses need work? I assume the buyers like to go check out the property to gauge how much work it will need.

TreeEater
TreeEater

Most yes, but the buyers are going to want to see it either way. That's the delicate part. You have to involve a 3rd party who will look at it when you have presented yourself as the buyer.

Carnalpleasure
Carnalpleasure

And that third party is an inspector or an appraiser that will charge you a good sum of money.

Nude_Bikergirl
Nude_Bikergirl

The 3rd party I'm referencing is my buyer.

Inmate
Inmate

OP here. Sorry using the restroom so I'm phone/cellar web access

New_Cliche
New_Cliche

Very funny dick.

PurpleCharger
PurpleCharger

communists get out

Bidwell
Bidwell

real estate
a worthless leach middleman who does nothing and collects a fee, driving up prices for everyone else
checks out

iluvmen
iluvmen

After doing some research, it seems like wholesalers need to know about flipping and being a realtor at the same time. It seems that wholesaling has a very high actual entry point because you need to know what the fuck you're doing in order to not piss flippers the fuck off with bullshit offers.

How long have you been in this business, especially with the numbers you're making?

Playboyize
Playboyize

when will the canadian housing bubble pop?

TreeEater
TreeEater

I dont believe it to be unethical in most circumstances. There is not a large market for distressed properties. Traditional financing on many of them is almost impossible, so that means its usually just cash buyers. I dont know how many of yall have actually tried to sell these type of homes, but finding buyers when financing is not on the table is very hard, and lets be honest Realtors aren't flying to do it for you if its a real fixer upper. Also remember when you aren't using realtors, or finance fees, the cash price can already be a good bit less. These types of deals usually involve people just trying to walk away from a property. There are other situations, to where the seller is distressed and not the property. Maybe they lost their jobs and cant afford to keep the house. Its better to get out of it quick and avoid a foreclosure or bad credit history if possible than to reap a little extra windfall. A foreclosure sticks with you for years. Divorce? Sorry, but there is still grown up things you have to deal with and this is one. Inheritance? You can get your money quick with no strings and everyone goes their separate ways, or you can deal with your shitty brother in law for a few months or years trying to sell your moms house that was last updated with beautiful wallpaper from the 70s, shag carpet included. Im sure that brother in law will gladly chip in for the rehab to maximize the value... That said do people make bad decisions? Yes, all the time. And a little cash now is more tempting then it should be, as well as some buyers may be a little more aggressive than they should be. All said though I dont believe wholesaling to be a bad practice and in the long run produces/increases market liquidity in real estate which is not very liquid by having investors being able to come in and fix distressed properties to flip and or rent.

stolen from plebbit

MPmaster
MPmaster

5 years

I always get shit from people online for doing what I do but if it weren't for me people would lose their home, let it go into even further disrepair, or wreck their credit. If it wasn't in their best interests they wouldn't sign the contract.

Emberburn
Emberburn

thanks for this thread user, top quality

LuckyDusty
LuckyDusty

Anyone know if you can do the same thing in Canada, eh?

haveahappyday
haveahappyday

Ontario is MINE

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