Expert Tips For Wholesaling Newbies

Wholesaling is considered by many as the ideal entry point for those who want to venture into real estate

. Seasoned investors say that its because this business has less risks. This is where you get to invest in real estate even if you have little or no capital at all, as educational site REIwired.com says.

When wholesaling, you basically place a property under contract. You then sell that contract to an end buyer, who will then close the deal. You earn from the assignment fees. Some wholesalers start earning as little as $5,000 from single family homes but those who are really good at it earn a fortune with every deal. To help you start in this business, here are some expert tips as listed by REIwired.com.

Target motivated sellers. A seasoned wholesaler once said, You cant negotiate with houses, only with owners. So what experts recommend is that you look for motivated sellers. These are basically home owners who want to sell their property fast. A lot of them hardly care about the price you will offer. Divorcees or people who have just lost a loved one in that property are considered motivated sellers. Some owners are motivated to sell their houses because they already bought a new one. Others need to relocate to other places because of a job assignment. All of these count as motivated sellers.

Lend an ear. Wholesaling is not about being slick with words; its about being able to listen to your seller. Remember, most of your clients are motivated sellers. That means that a lot of them also have undergone emotional stress. Someone who has lost a loved one, for example, may still be reeling from the pain he has suffered from the tragedy. You dont want to appear as if you are taking away his property for a cheap price so that owner can live poor after he lost a loved one. You certainly dont want to have that tone. While you are a wholesaler and not a guidance counsel, you must practice sensitivity when dealing with clients. Seasoned wholesalers say that the deal goes to those who know how to listen.

Invest in your education. You could be too excited with the paychecks that you forget to educate yourself online through REIwired.com. The website offers free content to members. Just go to REIwired.com and create a log in account to access free information.

by: Daniel Mc Grey

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