How to Make $10k-20k/Month Wholesaling Houses (Step by Step)

TL;DR

Learn how to make 10-20k per month through real estate wholesaling, even with no experience, with step-by-step instructions.

Transcript

how to make 10 to 20 000 per month wholesaling real estate guys it's rick in here with flip with rick today i'm going to take you through step by step on how to make that 10 to 20k even if you've never done a real estate deal and don't worry it takes no experience you just have to have some basic instruction i'm gonna walk you through it but before... Read More

Key Insights

• 🔰 Wholesaling is a beginner-friendly strategy that can provide financial freedom through real estate investing.
• 🖐️ Mindset plays a crucial role in wholesaling, as having a positive and determined mindset is essential for success.
• 👂 Locating motivated sellers can be done through various strategies such as government lists, tax delinquency lists, and driving for dollars.
• 😷 Engaging with sellers requires non-threatening conversations and asking if they are interested in selling their properties.
• 🙃 Putting the property under contract for a discounted price and selling the contract to cash buyers is the final step in wholesaling, leading to profits without owning the property.
• 💄 Cash buyers are attracted to discounted properties, making it relatively easy to sell the contracts.
• 👨‍💼 Mindset and belief in the wholesaling business, coupled with hard work and consistency, can lead to significant financial success.

Questions & Answers

Q: What is wholesaling in real estate?

Wholesaling is a strategy where a real estate investor finds motivated sellers, puts their properties under contract for a discounted price, and then sells the contract to cash buyers, earning a profit without actually buying or owning the property.

Q: How important is mindset in wholesaling?

Mindset is crucial in wholesaling as it determines your belief in the business, your conviction to succeed, and your ability to overcome challenges. A positive and determined mindset is key to achieving success in wholesaling.

Q: How can I find motivated sellers?

There are several effective strategies to find motivated sellers, including government lists (such as code violations), tax delinquency lists, and driving for dollars (searching for rundown houses in specific neighborhoods).

Q: How do I engage with sellers?

Engaging with sellers involves reaching out to them, either by skip tracing their contact information from public records or using reverse driving for dollars and leaving notes on their doors expressing interest in their property. Once in contact, have non-threatening conversations and ask if they are interested in selling.

Q: How do I determine the discounted price for the property?

To determine the discounted price, you can use online tools like Zillow or Realtor.com to compare the property's value with similar properties in the area. The discounted price should be significantly below the retail value.

Summary & Key Takeaways

• Wholesaling is a beginner-friendly strategy to start investing in real estate and minimize risk by finding motivated sellers and selling their contracts to cash buyers.

• Success in wholesaling starts with the right mindset and a belief that it can provide financial freedom.

• Three effective strategies for locating motivated sellers include government lists, tax delinquency lists, and driving for dollars.

• Engaging with sellers involves reaching out to them, asking if they are interested in selling their property, and having non-threatening conversations.

• Putting the property under contract for a discounted price and selling the contract to cash buyers is the final step in wholesaling.