Wholesaling Real Estate Documentary (3/4) Meeting & Finding a Cash Buyer LIVE | Summary and Q&A

TL;DR
The content discusses the process of assigning a property to a cash buyer in the wholesaling real estate business, showcasing a real-life example.
Key Insights
- โ Wholesaling real estate involves finding distressed properties and assigning them to cash buyers for a profit.
- ๐จโ๐ผ Building relationships with reliable cash buyers is crucial for a successful wholesaling business.
- ๐ Transparency and honesty about the property's condition are essential when presenting it to potential cash buyers.
- ๐๏ธ Negotiation and playing hardball can help maximize profits in assignment deals.
- โ The waiting period between assigning the contract and closing can involve ongoing communication with the seller and cash buyer.
- ๐ Multiple aspects need to be considered during the assignment process, such as contract terms, deposits, and potential commissions for realtors.
- ๐ต Wholesaling real estate requires adaptability and the ability to handle potential challenges and potential unexpected issues.
Transcript
how's it going zakkin here and welcome to episode three of my four-part wholesaling series where i hold your hand and show you the entire wholesaling real estate process from a to z in this specific episode i'm going to show you the entire assignment slash cash buyer process to show you how i found my cash buyer how i'm actually getting this proper... Read More
Questions & Answers
Q: How did the content creator find a cash buyer for the property?
The content creator reached out to five cash buyers and presented the property to them with all its issues and potential challenges. Two cash buyers were interested, one being a realtor who offered to sell the property for $135,000 with their commission, and the other being an end cash buyer who offered $130,000.
Q: Why did the content creator choose to work with the realtor instead of the end cash buyer?
The content creator decided to work with the realtor because it would potentially result in an extra $5,000 in profit. The realtor had a track record of successfully selling deals for the content creator and was confident in their ability to sell the property.
Q: What was the process of assigning the contract to the cash buyer?
The content creator and the cash buyer agreed on the terms and conditions of the assignment, including a $5,000 deposit. The assignment contract was signed, and the content creator is expected to make a net profit of around $25,000.
Q: What is the next step after assigning the property to the cash buyer?
The content creator will monitor the progress of the transaction and continue to communicate with the seller and the cash buyer to ensure a smooth closing process. The closing is scheduled for the end of July, and the content creator will conduct a final walkthrough inspection before receiving the payment.
Summary & Key Takeaways
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The content is part three of a four-part series on wholesaling real estate, focusing on the assignment and cash buyer process.
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The video shows how the content creator found a cash buyer for a property and negotiated the assignment deal.
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The content also includes behind-the-scenes footage of a property walkthrough with the cash buyer and the seller.
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