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Odyssey CurrentlySwoonLifestyleHealth & WellnessStudent LifeContent InspirationEntertainmentPolitics and ActivismSportsAdulting ShopOdyssey UAbout usAdvertiseTermsPrivacyDMCAContact us ® 2020 ODYSSEY Welcome back Sign in to comment to your favorite stories, participate in your community and interact with your friends Forgot your password?Log in or LOG IN WITH FACEBOOK No account? Create one x Start writing a post 1. Home › 2. Adulting › 3. Wholesaling Real Estate Basics: A Beginner’s Guide › Adulting WHOLESALING REAL ESTATE BASICS: A BEGINNER’S GUIDE THE FOLLOWING ARTICLE PROVIDES A FUNDAMENTAL OVERVIEW OF THE OPPORTUNITY TO STAKE YOUR CLAIM IN REAL ESTATE WITH FAR LESS CAPITAL AND RISK THAN OTHER METHODS OF INVESTING. WealthMagnet Mar 04, 2022 24 x Photo by Expect Best from Pexels Investing into real-estate has proven time-and-time again to be a viable long-term strategy for building wealth. And while you might think that you need an enormous amount of cash up-front to get started, quite the opposite is true. Wholesaling real estate is a fantastic option for beginner investors to consider for a variety of reasons. The following article provides a fundamental overview of the opportunity to stake your claim in real estate with far less capital and risk than other methods of investing. WHAT IS WHOLESALING REAL ESTATE? Advertisement ✕ Powered By Many people confuse wholesaling real estate and “house flipping.” But the two couldn’t be any different. Wholesaling real estate is a process whereby an investor finds a home or property that is selling below current market rates, acquires a contract or “assignment” to sell it on behalf of the owner, and then sells it to a buyer for a profit; without ever having to actually own or purchase the property themselves (unlike “house flipping”). Therefore the initial investment costs aren’t as large as many people believe. Most sellers will only require some type of earnest money from the wholesaler and a contract which outlines the proposed timeline of sale and any number of other stipulations. In short, by wholesaling, you are taking temporary ownership of the contract to sell a property to a buyer without having the actual deed to the property yourself, but rather by having the rights to conduct a sales transaction on behalf of the property’s true and current owner. WHAT TYPES OF PROPERTIES CAN YOU WHOLESALE? Photo by David McBee from Pexels In theory, it’s possible to wholesale any type of real estate. However, when it comes to acting as an intermediary between a seller and a buyer, properties that are distressed, have highly motivated sellers, have tax liens, or need up-dates or repairs are the best options. Especially when it comes to attempting to turn a profit quickly and capitalize on current market conditions. These “distressed properties” will have a much lower asking price and are likely owned by a seller who is willing to listen to someone who has a streamlined process in place for conducting a transaction quickly. They are likely even more willing to listen to someone with some cash-on-hand and a proven network of buyers and investors. HOW DO YOU FIND PROPERTIES TO WHOLESALE? Photo by energepic.com from Pexels There are a few different ways to find properties that are viable for wholesale. “On-market” and “off-market.” On-market properties consist of any listing that is contained within the MLS (multiple listing service.) Each geographic region’s MLS is funneled through sources like Zillow, Redfin, and a long list of other resources. In essence, it contains a collection of all properties in which a seller has determined the market value and wishes to sell; regardless of representation status. One of the best ways to begin is to search the MLS for properties which include keywords like “distressed,” “needs updates,” or “motivated seller.” All these terms will yield results with homes and different properties that are listed below current market prices. Off-market properties would be those that would not be listed within the MLS and are mostly found through word-of-mouth and traditional marketing tactics. Off-market properties become more common for those wholesalers who already have an established network; albeit not impossible for those that do not. These “off-market” opportunities can also be found by doing what wholesalers affectionately call “driving for dollars;” or the wholesaler’s version of “cold-calling.” At this point, it becomes essential to determine the potential profitability of the property you’ve found and understand who to contact and when. This is where many people get lost. WHAT IS MY JOB AS A WHOLESALER? WHO DO I CONTACT? Photo by MART PRODUCTION from Pexels In so many words, your job is to make the owner of a property that has minor issues or stipulations attached to it life easy. Whatever their motivation for selling or their reason for needing to move quickly might be, you fill the role of the person that makes the transaction as smooth as possible. When people look to someone in wholesale real estate, they are expecting to work with someone who has a network of buyers and is prepared to act in accordance with all the stipulations of the agreed upon contract. Many times when people begin wholesaling real estate, they get some off-beat responses over the phone. And most of the time it’s because they’ve contacted a real estate agent looking to represent a buyer for the property in question. But, a wholesaler isn’t looking to be represented as the buyer of a property by a real estate agent, they are only looking to obtain the contract to sell a property on someone’s behalf. How To Wholesale Houses 101 youtu.be From Your Site Articles * Why Real Estate Is The Best Business To Get Into If You Want To ... › Report this Content This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator. SUBSCRIBE TO OUR NEWSLETTER AROUND THE WEB IMPACTANTES CAMBIOS DE LOS PERROS DE CACHORROS A ADULTOS! CONOCE LAS RAZAS Mira Lo Que Encontraron ¡ERA LA NIÑA MÁS BONITA DEL MUNDO! MIRA CÓMO ES AHORA LUEGO DE 10 AÑOS GRANDES CAMBIOS! SIN LA EXISTENCIA DE LOS DRONES, NUNCA PODRÍAMOS LLEGAR A CONOCER ESTAS IMÁGENES MIRA ESTAS MÁS DE 15 IMÁGENES CONOCE PORQUÉ SON LOS COMPETIDORES MAS "POPULARES" DE LOS JUEGOS OLÍMPICOS 2020 ArteDeEmocionar.com PUBLICO UNA FOTO Y LA POLICÍA NO TARDO EN IR A SU CASA! UNA GRAN SORPRESA THE BEST PLACES TO BUY COLLEGE APPAREL MAKE SHOWING COLLEGE PRIDE TOO EASY Spy The content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent's Privacy Policy WANT YOUR CONTENT TO APPEAR ON SITES LIKE THIS? Increase Your Engagement Now! WANT TO REPORT THIS PUBLISHER'S CONTENT AS MISINFORMATION? Submit a Report Got it, thanks! Featured GOD IS NOT INDIFFERENT HE CARES FOR ME, SO I MUST CARE FOR OTHERS. Kimberly Annette Roach 20h Sam Houston State University 3347 x Pinterest I would not be where I am today without God. He has graced my life with fantastic people and great opportunities. His grace, mercy, and forgiveness has carried me through my first twenty years. He has proved to me in so many ways, both big and small, that He is not indifferent towards me. Because He is not indifferent towards me, I must not be indifferent towards others. In the world we live in, it is so easy to become indifferent towards others. We become focused on school and our careers and fail to take notice of the people that surround us. While it is okay to think of ourselves and do what is best for us, we also should take a moment to consider others. This is something I struggle with. Let me be honest with you: I often am so busy running around that I forget that others around me are struggling through life as well. Between class and work, I come in contact with hundreds of people a day. How many of those people have I helped? How many of the people I come in contact with can see Jesus' love at work in my life? Do I just talk the talk or do I genuinely live what I preach? God is not indifferent. Therefore, as a Christian I must not allow myself to become indifferent towards others. I know we become disappointed in life, both with people and with different circumstances. However, we can not allow ourselves to become indifferent towards the people around us. This world is hurting. People are broken and desperate for something to believe in. They are desperate for hope. Let us not be indifferent towards those around us. Let us be someone's hope today. Keep Reading... Show less Featured 7 THOUGHTS YOU HAVE IF YOU SPEND SPRING BREAK AT HOME IS IT POSSIBLE TO DIE FROM BOREDOM? Jenn 27 March The Ohio State University 3663 x YouTube While many people's spring breaks are filled with clear water and sandy beaches, soaking up the sun in 90 degree weather, others aren't so lucky. Some are forced to go back to their hometown and fill their time in other ways I HAVEN’T MOVED FOR TEN HOURS With no actual responsibility or social life during this week, there is really no point to ever leaving the couch. HOW MANY EPISODES OF GREY’S ANATOMY IS CONSIDERED TOO MUCH? Got hours of free time? Why not spend those engrossed in an overdramatic medical drama? WOW IS IT ALREADY 4AM? The hours really do slip away when you got nothing but time. I MISS MY COLLEGE FRIENDS It's a big change when you go from being together 24/7 to not seeing each other at all. I COULD GET A HEAD START ON MY ASSIGNMENTS, WAIT I’M GOOD. That ten page paper due in three weeks? Umm I think Netflix is more important right now. I MISS MY HIGH SCHOOL FRIENDS Sadly most universities' spring breaks don't line up, leaving you all alone in your sad hometown. I CAN’T WAIT FOR SUMMER Endless days and no responsibilities, spent with your favorite people? Summer couldn't come soon enough. Keep Reading... Show less Featured REUNITING WITH YOURSELF: "LOVE AFTER LOVE" BY DEREK WALCOTT "...LIKE THE EMBRACE OF AN OLD FRIEND." Connie Lai 26 March Suffolk University 9924 x Google Images This week, I want to share with you all, one of my favorite poems: "Love after Love" by Derek Walcott. Love after Love I read this poem for the first time a few years ago, and now make it a habit to read it at least once a month. At first sight, one could study this poem as a speech being given to a significant other. This is also something I love about Walcott's lines: the curious ambiguity. We cannot fully conclude that the narrator is speaking about another, or to another, or having a deep dialogue with themselves. In spite of it all though, we can conclude that "Love after Love" is about You, me, and every other being. "Give back your heart to itself, / to the stranger who has loved you / all your life, whom you ignored" (8-9). Maybe it is not about the little bits that we try to exemplify everyday; needing to correct every fault we see in ourselves, needing to push further, to work harder, to be stronger, to be better... Instead, maybe it is about taking off the masks and pretenses of who we think we should be, or have to become, and just be. Acknowledge that our existence is enough. "The time will come / when, with elation / you will greet yourself arriving / at your own door, in your mirror, / and each smile at the other's welcome" (1-5). 'Greeting yourself with elation, and smiling at the other's welcome' feels like an affirmation of unmitigated love. When we stop waiting for certain courses to occur, and things to happen, we are elevated to a more fulfilling peace that will endure. Through all the mayhem and chaos, uncertainties and inhibitions, Walcott reminds us that whether we've continuously possessed an archetypal self, or have forged a self on life experience, consciousness to tranquility with ourselves is intrinsic. Perhaps, the 'time' that will come when we have to go back to ourselves will be much later than expected. But like an epiphany, it will ring a sincere awakening. So 'sit, feast on your life.' Find your way home, and you will not relinquish this love. xx Keep Reading... Show less Student Life THE STAGES OF COMING BACK TO SCHOOL AFTER SPRING BREAK SUMMER, WHERE YOU AT THOUGH? Tiffany Le 26 March University of Florida 6533 x https://az616578.vo.msecnd.net/files/2016/03/03/63592572742053582591332997_dontwant.jpg 1. EXCITEMENT x YAY YAY YAY YAY I get to see all of my friends again. I can't wait to see all of my buddies. I can't wait to do things with them. I miss them so much. 2. REFUSAL Wait. This was a mistake. I don't want to be back. Can I get a pause button for life? I can't. I need another break. 3. CONFIDENCE Okay. I can do this. We're in the last stretch of the race. I've made it this far. I can't die now. 4. CONCERN Trying to get through classes and homework without crying is not as easy as it sounds. I don't think I can do this. This is painful. 5. ANXIETY Three papers, two exams, and twelve homework assignments??? Sure, keep the work coming. It's fine. I'm not drowning in school work or anything. 6. NOSTALGIA Summer where are you?? I miss the days where I could just lay in the sand, bask in the sun, and not worry about what the tenth derivative of a natural logarithm is. 7. CONTEMPLATION So if I drop out of school now... how many years would I have to survive on my own before I marry rich? That's the new plan: marry rich. I'll be fine. Right? 8. ACCEPTANCE Life is good. I'm almost done with the semester. The hard part is almost over. Just a few more weeks and I'll have three months to relax and not have the weight of a full time student on my shoulders. Keep Reading... Show less Sports WAITING FOR BASEBALL SEASON TO START AS TOLD BY HIGH SCHOOL MUSICAL YOU'VE TRIED BEING A BASKETBALL FANATIC, BUT IT JUST ISN'T THE SAME Ashlyn Rollins 25 March Corban University 10338 x https://pixabay.com Baseball season is almost here, and can I just say, I am dying with anticipation! I am the girl who watched the Giants play the Mets last year in the Wild Card game during my three hour night Constitutional Law class. Needless to say, I can't wait until every night is baseball night and what better way to compare waiting for baseball season than comparing it to High School Musical. 1. WHEN YOUR TEAM LOSES IN PLAYOFFS And you're upset about that and that baseball is over for a few months. 2. THEN IT'S THE MIDDLE OF DECEMBER AND YOU START HAVING WITHDRAWALS 3. AND YOU DEBATE TRYING TO BE A BASKETBALL FANATIC; YOU EVEN JOIN A FANTASY BASKETBALL LEAGUE 4. BUT THEN YOU REALIZE THE NBA JUST CAN'T COMPETE 5. THEN IT'S JANUARY AND YOU AND YOUR OTHER BASEBALL FRIENDS CONSOLE EACH OTHER 6. AND YOUR TEAM MAKES SOME CRAZY TRADE DEAL AND YOU QUESTION EVERYTHING 7. BUT THEN YOU TELL EVERYBODY HOW THE TRADE IS GOING TO BE THE BEST THING EVER AND IT'LL BE THE KEY TO WINNING THE WORLD SERIES 8. THE MLB APP IS YOUR BEST FRIEND EVEN THOUGH IT ONLY UPDATES EVERY ONCE IN FOREVER AND YOU'VE READ EVERY ARTICLE TWICE 9. FINALLY, FEBRUARY HITS AND YOU REALIZE SPRING TRAINING IS AROUND THE CORNER 10. IT'S SO CLOSE YOU CAN TASTE THE DIRT FROM THE FIELD 11. AND THEN PEOPLE ASK IF YOU ARE FREE THE FIRST DAY OF SPRING TRAINING 12. AFTER THE FIRST GAME, YOU'RE CONVINCED THIS IS YOUR TEAM'S YEAR TO WIN IT ALL 14. AND THEN YOU MIGHT BE A LITTLE TOO GIDDY ON OPENING DAY 13. AND THEN REGULAR SEASON STARTS AND YOU HAVE CLASS AND CAN'T GET AWAY WITH WATCHING THE GAMES IN EVERY CLASS 14. YOU JUST WANT MORE TIME TO WATCH BASEBALL 15. FINALLY, SUMMER COMES, YOU'RE IN THE HEART OF BASEBALL SEASON AGAIN AND ALL IS RIGHT WITH THE WORLD Who else can't wait for baseball season to start? Keep Reading... Show less TRENDING TOPICS Songs About Being 17 Grey's Anatomy Quotes Vine Quotes 4 Leaf Clover Self Respect TOP CREATORS 1. Brittany Morgan, National Writer's Society 2. Radhi, SUNY Stony Brook 3. Kristen Haddox, Penn State University 4. Jennifer Kustanovich, SUNY Stony Brook 5. Clare Regelbrugge, University of Illinois Urbana-Champaign TRENDING STORIES 50 OF THE BEST PARTY THEMES Kay-Lynn Klug 10 REASONS WHY THE ARTS ARE IMPORTANT IN OUR LIVES Swara Swami SUMMER BREAK: THE ADVANTAGES AND DISADVANTAGES Emrald Sethna DISNEY COLLEGE PROGRAM ROLES Olivia Schultz 15 WAYS TO DISPLAY PICTURES IN YOUR DORM Hannah Sylvester RECENT AIRPORT SECURITY COULDN'T BELIEVE THESE JAW DROPPING MOMENTS Facthub 11 UNIVERSAL SIGNS THAT SOMEONE IS FLIRTING WITH YOU RelationHub CELEBRATE YOUR RELATIONSHIP WITH THESE AMAZING TATTOOS ! MahBoo 23 CHILLING CHILDHOOD PHOTOS OF THE WORLDS MOST EVIL PEOPLE KyHub The content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent's Privacy Policy WANT YOUR CONTENT TO APPEAR ON SITES LIKE THIS? Increase Your Engagement Now! WANT TO REPORT THIS PUBLISHER'S CONTENT AS MISINFORMATION? Submit a Report Got it, thanks! BEST OF ADULTING HOW TO WIN 'CLUE' EVERY TIME EMILY PLUMB A LETTER TO THE PERSON WHO INSPIRES ME SAMANTHA PALMIERI 20 WORDS ALL JEWISH KIDS GREW UP HEARING ANTONIA BRAUN THE AIRPODS JOURNEY: THE PENULTIMATE FINALE MARC ANTHONY BROWN TIPS FOR VISITING CHARLESTON IN THE SUMMER REESE ADDISON FACEBOOK COMMENTS Odyssey * currently * * LIFESTYLE * HEALTH & WELLNESS * STUDENT LIFE * STUFF * ENTERTAINMENT * POLITICS AND ACTIVISM * SPORTS * ADULTING * SOCIAL IMPACT Shop Odyssey University About us Advertise Terms Privacy DMCA Contact Us Help ® 2022 ODYSSEY Sign in Welcome back Sign in to comment to your favorite stories, participate in your community and interact with your friends Forgot your password? Log in or LOG IN WITH FACEBOOK No account? 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