Sat, Nov 21, 2009
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Instant Cash Wholesaling Houses! Part 1
| | Monday, September 23, 2002 @ 05:00 AM EDT
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Contributed by: Scott Rister
Scott Rister Properties
Read more archived articles about Buying
Let me ask this one question that should be basic to every real estate investor: What is the key to being successful in real estate investing every month and every year? The answer lies in one simple but very powerful word:
CASHFLOW!!
If you have a sizeable real estate business that is not generating positive cash flow each month then you’ll soon be learning what Chapter 7 & Chapter 13 mean, or you can do something quick to fix it. By fixing it
I am talking about having enough reserve capital and then some to weather the bad times, (or deals) and to make you significant cash RIGHT NOW while you build on your equities and the “home-run” deals being either rehabs or getting tenant/buyers qualified for loans on your subject-to deals for the big kahuna paydays.
Now how exactly do you accomplish having a system you can put on auto-pilot that makes deposits into your bank account so you can spend from it month-in-month out…..the answer is:
Wholesaling Houses!
Hopefully you can understand by the few paragraphs above exactly what I’m talking about but if you can’t see it clearly then let me spell it out: wholesaling houses = cashflow! Just my personal opinion so take it for what it’s worth, but if you’re out there doing deals whether a novice or a pro you just need to have some wholesaling techniques in your arsenal. Let me give you some reasons why I back this up form my personal real estate business.
A large part of my business focuses on finding properties with existing financing taking over payments…in other words Subject-To’s. To accomplish this you have two key components being deals available and qualified buyers. I spend considerable monies on marketing for both and I ALWAYS either have more deals than buyers or more buyers than deals. In my world of wholesaling I profit from every venture opportunity that comes along. If I’m out of qualified buyers and have quality deals then I wholesale them to other investors and conversely if I have qualified buyers then I’m networked with other investors having deals and I get paid for bringing qualified buyers their way.
Some of the comments in the above listed paragraph may confuse or quite frankly blow away other previously conceived concepts of what exactly is wholesaling. If you think you’re just going to call up a Realtor to bring you no-brainer can’t-miss deals from an MLS listing that hundreds of other investors are looking at and you to wholesale it making thousands while they make a few hundred…….then GET REAL! Sure you can find wholesale deals in MLS, and I do, but what about gaining access to the property to let your wholesale buyers see it? What about that earnest money of $500 or more that a Realtor is going to require?
Find out next week how you can take wholesaling to a whole new level.
Note:
Scott Rister is an author and “real world” investor just like yourself. Scott has designed his courses to help investors get their phone ringing and to better manage motivated sellers. To find out more about how his courses can help you click here. If you have a question or comment about this article, please post them below where it says 'Comments'.
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