Cash Flow Analysis Is Good When All Of The Above Six Easy Steps to Cash Now Wholesaling Real Estate

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Six Easy Steps to Cash Now Wholesaling Real Estate

If you’re interested in generating instant cash flow by learning how to quickly control and then wholesale real estate, follow these six simple steps to success based on the well-honed systems and checklists used to run the largest national wholesale business in the world.

Find offers

The first step is to find wholesale deals. This is usually done on our daily marketing checklist where you advertise for sellers to call you about the property they are selling. When you’re first starting out, or if you want to generate a quick influx of business, you can also find sellers directly by contacting people who have properties for sale on sites like Craigslist.

Analyze offers

Once you begin discussions with the seller, it’s time to really analyze the details of the property and the seller’s situation to determine if the property would be a good candidate for wholesaling. Not all properties are good candidates for wholesaling, as your investor buyers expect to buy properties at a discount and/or on great terms. Of course, if you operate your wholesale business more as a wholesale/retail business where you buy wholesale or slightly above wholesale and then sell to retail customers, your business analysis criteria will be different. Deal analysis is usually done on a seller checklist as you work through your research and early offer sections.

Negotiate deals

Once you have analyzed the deal and it meets your basic deal analysis criteria, the next step is to negotiate the deal with the seller. Your ability to negotiate win-win deals will go a long way to your success in this business. Negotiating control of the deal is done during the offer section of the seller’s checklist.

Control transactions

When selling real estate wholesaling, you will typically control the property through a purchase contract or option on the property. If you have a real estate license, you can also control the property with a listing agreement. Deal control allows you to market the property to find a buyer.

Sales offers

As a wholesaler, you’ll usually be selling the rights you own in the business rather than the actual property, but there are exceptions that depend on timing and how you’ve structured the business. By selling the right to have someone take over your contract to purchase real estate, your end buyer will ultimately purchase the real estate from the seller. If you controlled the property with an option, you may be selling your option to purchase the property. This is usually done when working with a buyer list while working through a buyer checklist.

Collect fees

The goal of any profitable business should be to make money, and you usually make money as a real estate wholesaler when your end buyer enters into a real estate contract with a seller. Depending on how your legal team and title company propose to structure it to comply with local and state laws, you’ll likely collect a transfer fee or title clearance fee. Your attorney and title or escrow company can help you structure to ensure that you complete the transaction legally, fairly and ethically.

Conclusion

By following these six simple steps, you’ll be finding, analyzing, negotiating, monitoring, selling and collecting commissions on wholesale real estate deals in no time.

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