What is Wholesale Investing? The three most common techniques associated with wholesale investing is bird dogging, assignment of contract or double closing. In simple terms, wholesale investing is finding properties at a great deal (below market value) with the intent to sale quickly using little or no money of your own.
When considering wholesale investing you need to have a plan and set realistic goals. Be aware that wholesale investing is not a get rich quick scheme; you may make many offers before even one is accepted. Wholesale investing is only one of the many strategies you can employ to operate your real estate investing business.
What is an Investor Friendly Agent? When you decide to work with a real estate agent to help you find properties, it does not employ the agent to teach you how to do wholesale investing, run your numbers, calculate your expenses or tell you how much to offer on a property. The responsibilities of your agent is outlined in the Buyer's Representative Agreement which includes the following: 1. Present properties to you that best meet your investing criteria. 2. Provide you with up to date market analysis (CMA). 3. Guidance to ensure your offers are competively sound and protects you as the buyer. 4. Write, negotiate and submit your offers. 5. Provide you with necessary resources for a successful purchase. 5. Schedule access to properties of interest. 6. Provide you with professional referrals you may need before, during and after the transaction. Your agent is there to help you achieve your investing goals. As the investor, it is your responsibility to identify and articulate your wants and needs so the agent can provide you with appropriate services and recommendations. Know your budget and keep an open line of communication with your real estate agent.
If you are new to real estate wholesale investing and you are looking for a coach or mentor, I do offer one on one coaching for a nonimal fee. My one on one coaching is not associated with the DRE and will include the following: guidance for basic business set up, contracts and contingencies, finding cash buyers, lead generation and systems, marketing, general visual property inspections and walk through on a real transaction. Contact me today to discuss further details. +1 (310) 684-3811
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