subject: REIWIRED: The Success Formula for Wholesaling Houses Today [print this page] Author: Daniel Mc Grey Author: Daniel Mc Grey
Truth be told, not all formulas work in situations. However, there are some formulas that have been tested and proven effective in certain instances. If youre planning to start wholesaling houses today, there is actually a formula that can help you attain success. The success formula for flipping houses is simple: Find people who need and have the checks. This means that you have to primarily search for people who need to buy and sell houses. As a seasoned wholesaler once said, a house cannot sell itself to you; only its owner can. A house also wont pay you; only its new owner can. Because of this, you must focus on two things if you plan to venture into wholesaling houses. First is you must find motivated sellers. These are the people who need the check. Motivated sellers are basically home owners who really need to sell their property. Most of them are struggling financially and have no choice but to let go of their abode. These owners badly need money and are willing to move out of the property as soon as possible, regardless of the price you are offering, if thats what it takes to settle their financial problems. There are other types of people who may be classified as motivated sellers. Those who are carrying emotional baggage and would want to move out of the property for such reasons are also good sellers. For example, there are owners who want to move out of the property because they have just been divorced. They want to move on with their lives and starting a new one will be easier if they are away from a house filled with bitter memories and if they have pockets filled with money. People who are relocating to other places are also good sellers. For instance, the familys breadwinner was assigned to another state. If the family wants to stay together, they will end up selling the property. They are motivated to sell the property so you are in a better position to ask a lower price for it. Half of your success in wholesaling houses will depend on motivated sellers. The other half is finding people who have checks. These, on the other hand, are known as motivated buyers. Look for people who have the money to spend. These are investors who know the potential of real estate to bring them huge profits in the future. Investors who are looking for properties to rehab or open for rentals are ideal. They will buy the property you placed under contract and will give you the assignment fee you deserve for finding them a good investment property. Want to learn more about wholesaling houses? Go to REIwired.com and discover what else youve been missing.About the Author:
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