You don't need a real estate license to do real estate investing so long as you are a principle in the deal. You will either be a buyer or seller, lessor or lessee, optionor or optionee. You only need a real estate license when you are selling a property for a commission and you do not have an equitable interest in the property. … [Read more...]
Wholesaling, The Easy Starting Point
October 12, 2010 By Leave a Comment
One of the quickest ways to make fast cash in real estate is by getting a contract to purchase a property at a great price, then marking the price up and selling it to another real estate investor. This is many times referred to as “Wholesaling” or “Flipping” real estate. This investor who buys the property from you will either fix the property up and resell it or rent it out. Getting Started As A Beginner Flipping houses is the number one investment choice for beginning investors … [Read more...]
Wholesaling, What To Look For
October 12, 2010 By Leave a Comment
The type of properties that you will be looking to wholesale will be ugly. Yes, sometimes you can wholesale a nice house but for the most part the houses will need to be ugly. What do we mean by “UGLY”? For example, the houses should be smelly, have pealing paint, rotten wood, leaky roofs, broken windows, and over grown weeds and bushes in the yard. If the house still has a kitchen and bathroom, those should be falling apart and disgusting as well. The worse condition the property is … [Read more...]
Wholesaling, Advantages & Disadvantages
October 12, 2010 By Leave a Comment
There are many advantages to flipping wholesale especially if you are just getting started in real estate investing and have limited funds and/or credit. When flipping houses you do not have to come up with funds to purchase the property because the funds will come from the investor/buyer you flip to. The most money you need is for binder deposits & you won’t be getting any new loans so you don’t need credit. Also, because the only money you will be putting up is for binder deposits, you … [Read more...]
Is Wholesale “Flipping” Illegal?
October 12, 2010 By Leave a Comment
You may or may not have heard that flipping is illegal, which is not true. Simply put, flipping a house is only illegal if fraud is involved. That only makes sense, because the whole point is that anything fraudulent is illegal. Fraudulent flipping is usually done by … [Read more...]
