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.
Just a few of the other things we will touch on are:
- Marketing and Lead sources
- Direct mail
- Double closings
- How to find your buyer
- And so much more
You can find the podcast here at BiggerPockets
I also have more articles, videos and podcasts on my blog about wholesaling. Here are a few links to get you started:
–> Wholesaling Do’s and Don’ts
–> How Do I Know Which Real Estate Strategy To Choose?
–> “Escape the Newbie Zone” – Podcast with Chris Bruce
If you haven’t already subscribed, be sure to do that today so you don’t miss any of the business building tips I have coming your way. I want 2013 to be your best year ever! And if you enjoyed this article, please share it.
Believe me, we all get discouraged. And we all have to stay alert and watch for signs that we need to “tweak” something in our businesses. Sometimes subtle changes happen over time and we don’t even see them creeping up on us. One day there is this big elephant in the room.
I determined recently that I need to make some changes, and that is what I am in the process of doing. It’s just so easy to stay in that “easy place of denial ” too long. I appreciate yoour comments.
Sharon, you gave a very information rich interview. Very useful stuff. Thanks for giving us a look behind your marketing curtain. It’s encouraging to hear that I shouldn’t get discouraged if I don’t get great results after my first or second marketing attempts.
I listened to the pod cast and really enjoyed it Sharon. After listening I actually looked at my probate mailings and redid all of my letters. You mentioned how you build upon each letter, and I wanted to incorporate that more into my letters.