Monday, 5 October 2015

Virtual Wholesaling

One example of that is to negotiate deals, on real estate, that are marketable.

In the markets we do business in, we hear people complain that they can't find good deals. They complain that they want to virtual wholesaling deals to generate some income, but no one is accepting their offers. Wholesaling real estate in its simplest form is just getting houses under contract that you can sell for a quick profit. The last time I wholesaled a house I made $15,000. Right now I am working with a client that will make over $125,000 on a wholesale deal. He and I have been part of a deal where the wholesaler made $250,000. What is more common is $3,000 to $5,000 per deal.

Most often, that is the case; but not all wholesale deals need to be big discount properties. I and some people I know would be very interested in buying some deals with great terms. In fact, I could pay full retail price if the terms made me money. If you account for vacancy and maintenance, your net income might be 80% of gross without a management company (this is on a single family home). For the wholesaler, they have no risk or money into the deal and just made $6,000.

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