In my last post about wholesaling and making this type of real estate investment work for you, I want to talk more about finding a buyer and making certain you can walk away from a deal in the green.
4 – Get a Buyer. Ideally, one should have a buyer in mind by the time you have a property under contract. But for many starting out, this may not be the case. When making your offer, add your fee to the sales price. So in this example, you would add $5,000 to the $55,000 and offer them $60,000. Have a clause in your contract stating the buyer will need to buy with cash within a 5-7 day window.
5 – Collect your fee.
No matter what the market condition, if you buy and sell at the right price, you will find buyers!
Now, before you get into any strategy or put your name on any contract, you need to be able to handle anything that may arise. You need to get educated, and you need to get your dream team set up (lawyers, realtors, title agents, & buyers). There is a lot of time that goes into building your team, however, it’s still a great way to get into real estate with no money or credit.
Again, it is my hope that this information is helpful in the growth of your business. Remember, you make your profit when you buy. It should always be a goal that everyone benefits from each deal.