How You Can Earn Loads Of Cash Wholesaling Real Estate

Many people are initially drawn to wholesaling real estate because it is a quick and simple way to make big money once youve gained some experience

. One of the most pressing questions out there is How much money do I need to start? The answer isalmost nothing! I say almost because sometimes you will need to make a small deposit in order to secure a property under contract. This deposit generally ranges from ten dollar to a one thousand dollars, but can sometimes be higher if attempting to wholesale banked owned properties it all depends on how good you are at negotiating the terms of the agreement . In addition to deposit money, the best real estate wholesalers are excellent and effective marketers and often dedicate a few hundred dollars to their monthly marketing budgets in order to generate more leads from potential motivated sellers and cash buyers. Other than these nominal fees, you dont really need a lot of money in order to close a deal.

This deposit is often referred to as an Earnest Money Deposit, as this deposit makes your contract with the seller legally binding. Although making a deposit of less than a hundred dollars in order to secure a property that could make you thousands sounds too good to be true, this is exactly how wholesaling real estate works. Motivated sellers are willing to accept a relatively small deposit amount because they simply want to unload their property as soon as possible. Also, you, as the wholesaler, are not the end-user of the DMV Real Estate. You are simply the middleman or middle-woman between the motivated sellers and motivated cash buyer.

Another great thing about wholesaling real estate is that you dont need to have good credit in order to be successful. Even if you have bad credit, you will still be able to wholesale as many profitable real estate deals as you find. As a wholesaler, you are not looking to finance a property in order to purchase it. You are merely gaining control of a property by placing it under contract and selling your rights to the property to a cash buyer/investor buyer.

The amount of money you can make on a typical wholesale deal can be staggering. On average, experienced wholesalers can make an average profit of $1,200 to $10,000 per deal depending on their marketplace. It is not unusual for a full-time wholesaler to close two to four deals a month, making real estate wholesaling a viable profession for those who take the time to dedicate themselves to the craft.

In the beginning, you will have to put in an extraordinary amount of time and effort in order to find motivated sellers. Eventually, as you gain more experience and credibility in the marketplace, you will come across motivate sellers and serious cash buyers on a regular basis. By paying attention to the needs of both motivated sellers and the cash buyers in your marketplace, you will be well on your way to closing multiple wholesale deals and living the life of your dreams.

For more information on how to get your wholesaling real estate business started and to learn how to avoid the many pitfalls most beginning real estate investors make visit http://www.flop2flipwholesaling.com and http://www.DMVREIUnited.com for free videos and eCourses that will help you get started the right way.

by: Marcel Umphery

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