One of the best strategies you can use in your real estate investing business for generating big chunks of cash is through wholesaling.But for so many folks, it can be extremely hard to wrap your brain around this strategy.
I know because I was one of those people. I used to run this question around in my head all the time; “How in the world can you go out there and make cash offers when you don’t have the money to close on the deal?”
As a wholesaler, you can build a thriving business in most cases with little or none of your own money. That's right! You can use “OPM” or other people’s money to fund your business if done correctly. Wholesaling is the strategy where you will also learn very quickly how to make good solid offers. The reason is that if you are a wholesaler and you pay too much for a house, you won’t be able to sell it to an experienced investor. No one will want it.
I was honored to be asked recently by “the guys” over at BiggerPockets, Josh Dorkin and Brandon Turner, to do a podcast on wholesaling. This is a topic that a lot of people find confusing, and one that is discussed all the time on the BiggerPockets site.
While this strategy is the one that a lot of people start with it was actually one of the last strategies that I learned, and it is the one I still work in today. In this podcast you will learn exactly how to buy houses with “OPM”, how critical it is to make good offers, and why someone would gladly pay a wholesaler for their deal. Read the rest of this entry →