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CLOSING DAY! |VLOG #3 WHOLESALING Real Estate

Published on: December 7 2022 by Zach Ginn

In this article, we will be discussing the third vlog of the Closing Day series, which focuses on wholesaling real estate. Wholesaling is a popular real estate investment strategy that involves finding distressed properties and selling them to other investors for a profit.

Sub-headings:

1. What is wholesaling real estate?

2. The benefits of wholesaling

3. Finding distressed properties

4. Building a buyers list

5. Negotiating with sellers

6. Closing the deal

7. Final thoughts

What is wholesaling real estate?

Wholesaling is the process of finding distressed properties that can be purchased below market value and then selling them to other investors for a profit. This is done without actually taking ownership of the property, making wholesaling a low-risk investment strategy.

The benefits of wholesaling:

- Low risk

- Minimal capital required

- Quick turnaround time

- High profit potential

Finding distressed properties:

To find distressed properties, wholesalers often use a variety of tactics, including:

- Driving for dollars (driving around neighborhoods looking for distressed properties)

- Direct mail campaigns

- Online marketing

- Networking with other investors and real estate professionals

Building a buyers list:

To successfully wholesale properties, wholesalers need to have a solid list of potential buyers. This is done by networking with other investors and building relationships with real estate agents and brokers.

Negotiating with sellers:

When negotiating with sellers, wholesalers need to be able to get the property at a low enough price to make a profit when they sell it to their buyers. This involves understanding the seller's motivation for selling and being able to negotiate effectively.

Closing the deal:

Once a deal has been agreed upon, the wholesaler will typically assign the contract to the buyer, who will then take ownership of the property. This involves filling out the necessary paperwork and coordinating with all parties involved in the transaction.

Final thoughts:

Wholesaling can be a profitable investment strategy for those who are willing to put in the time and effort to find distressed properties and build a strong network of buyers. However, it's important to remember that wholesaling is not without its risks, and it's important to do your due diligence before making any investment decisions.

CLOSING DAY! |VLOG #3 WHOLESALING Real Estate

Hey guys, it's Zakkin here, and we're finally wrapping up our vlog series on this property. In this article, we'll be giving you an entire breakdown of the numbers, sharing the contract that I signed to sell the property, and more. So, let's dive in!

- We're sharing the breakdown of the numbers on this property

- We'll be discussing the final profit, contract, market time, and closing costs

Breakdown of the Numbers:

- On August 6th, the property was purchased for $150,000, with closing costs paid by the buyer

- The property was listed on the MLS on August 7th for $199,999

- A full price offer was received on August 9th, and the property was sold for $200,000

- The property passed the inspection and appraisal, and the buyer was approved for financing

- The property was sold 26 days after it was purchased

- The total net profit was $36,242.12, with no rehab costs and only $200 for maintenance

Additional Information:

- The property was a texting lead, and the deal cost between $500-$1000 to obtain

- This was a no work flip, which is an average deal for most real estate investors

- We're sharing three book recommendations: 40 Days to Success in Real Estate Investing by Robert Sheman, Awaken the Giant Within by Tony Robbins, and Rich Dad Poor Dad by Robert Kiyosaki

- Thanks for following along with our vlog series on this property

- Stay tuned for vlog number four, where we'll be making a lot more profit on a new property with minimal rehab costs

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