How would you like to get your feet wet in the real estate investing world? I mean really get started and start earning money by finding and wholesaling investment properties for beginners. You can, and wholesaling property – also called “flipping” – just may be the way to get started.
Not all investment properties for beginners are created equal. For instance, high-rise apartments and large commercial properties probably aren’t a good choice for an investor just getting started. In contrast, single family and duplex residential homes make outstanding investment properties for beginners. And one of the very best techniques for making money off these types of houses is by wholesaling them.
To wholesale property, you first need to find it. You’re looking for abandoned or run down houses that often signal a motivated seller who is anxious to be rid of his headache property. Once you find a house to buy, you next need to negotiate and place the house under contract or letter of intent, meaning you tie it up while you find a buyer to flip it to.
The next part of the equation is finding a fellow investor or rehabber who wants to buy and fix the property up to rent it out or resell it. You’re looking for someone who is not only interested, but who is able and willing to close, meaning they have the financial ability to finish the deal, either with cash or financing.
The best wholesalers are those who can tie up all the potential loose ends and get everybody to the closing table so that the deal actually happens and everybody gets paid. They excel at pulling all the far flung parties together, and motivating them to handle the myriad details of a real estate transaction.