Articles For Aspiring & Active Real Estate Investors
Brandon is in his young twenties & had zero real estate experience when he joined the Pro Wholesaler VIP Program by Real Estate Skills. Now, with zero experience & with spending $0 in marketing, Brandon made $12,000 on his first wholesale real estate deal!
In this interview you will learn:
- How Brandon went from knowing nothing about real estate & wholesaling to making $12,000 on his first wholesale real estate deal!
- How he was able to wholesale a house with only a laptop and phone
- How he was skeptical about wholesaling real estate at first, but not anymore
- How we smash the misconception that finding cash buyers for your wholesale deals is difficult (Brandon found all the cash buyers he needed in just 5 days)
- How he found his first properties to wholesale on the MLS
- How he got access to the MLS (Multiple Listing Service)
- How Brandon submitted 15 wholesale offers, got 2 wholesale deals under contract, and closed one of them for $12,000,...
With a whirlwind of information out there, the short sale process can become very confusing and tedious to accomplish. In this article we will break down the core concepts of a short sale in an easy to understand step by step process.
Short sale refers to a real estate sale where the net proceeds of a property sale fall short of all debts that liens have secured against that property. In other words, it’s the sale of a property at a price less than what the current owner owes.
For instance, the amount owed by a homeowner can be $500,000 on a mortgage. However, the value of the home in question can be $400,000. As such, there is a negative equity of $100,000.
But, why would a lender agree to a short sale? Well, lenders are in a money making business. They are not interested in owning homes. When a lender takes a property back and forecloses it, the property is considered a non-performing loan.
It’s possible to make good money in the real estate industry through wholesaling houses. Some real estate gurus teach wholesaling as a way get wealthy without capital. Generally, real estate wholesaling can be a great business. However, it’s not easy and it requires investment of time and effort.
Wholesaling is selling merchandise or goods to retailers as well as industrial, institutional, commercial and professional business users. It can also involve selling merchandise or goods to other wholesalers and subordinated services. Essentially, wholesaling entails selling goods to buyers that are not standard consumers.
Wholesaling houses happens when one party enters a contract with a person selling a home to market their property to potential buyers then assigns the contract to another entity. The profit made by the wholesaler is the difference between the price contracted with the original seller and the amount the buyer pays. When...
Hey Real Estate Skills Community! Here's my podcast interview from the Real Estate Time Freedom Show by Investor Fuse. I share a ton of real estate golden nuggets like how to wholesale & flip houses on the MLS (Multiple Listing Service)! I also go deep into what makes a Pro Wholesaler versus an Amateur Wholesaler. Enjoy & come learn the best ways to get started in real estate!
Here's a transcription of the video above:
Carlos Zamora: Awesome. Live now with new friend Alex Martinez. Thank you guys for checking out the Real Estate Time Freedom Show today by Investor Fuse, April 18th already. Alex Martinez is joining us. He is the Founder and CEO of www.realestateskills.com, a real estate education company providing coaching tools and resources to start a successful real estate business or career. He got started investing about eight...
Private money lenders play a crucial role in the modern real estate industry. But, who are they? How do you find private money lenders? How do you get a private money lender to give you a loan for purchasing a real estate investment property? These are some of the questions that this article answers!
A private money lender is an individual or entity that issues loans secured by a trust deed and note to fund a real estate deal or transaction. Generally, private money lenders are relationship-based lenders. These are non-institutional lenders that provide short-term loans for the purchase of investment properties. An investor can also get a rehab loan from a private money lender.
A real estate investment deal is incomplete without money. As a professional real estate investor, you should always be actively looking for ways to bring in private money lenders to fund real estate investments and tie up...
How do you get money for real estate deals if traditional mortgage lenders do not work for your situation? Consider getting a hard money loan to financing your next house flip, or other type real estate deal! Learn all about hard money lending right now in this article!
A hard money loan is an asset-based loan and one of the options to consider when traditional lenders won’t finance your real estate deals.
A major factor that may affect your traditional loan approval is your income and credit history. Lenders prefer candidates with a reputable loan repayment history. That’s because repayment history demonstrates the ability of the consumer to repay a loan.
However, it’s apparent that having an income and an impressive credit score is not necessary a guarantee for loan approval. Traditional loans have an invasive process and their approval takes a lot of time. On the other hand, hard money lenders...
In real estate investing & wholesaling, having an up-to-date & legit proof of funds letter is a necessity! If you do not have this, then you are investing like an amateur! Every single wholesale and fix & flip deal I’ve ever completed have all had a Proof of Funds attached along with my offer. Having a Proof of Funds on each & every offer will significantly improve your chances of getting & closing the real estate deal! In this article, we’ll go over what exactly is a proof of funds letter for real estate, why you need it, and how to get it!
A Proof of Funds Letter (POF) is a letter, bank statement, PDF, screenshot, or other document showing that a person or company has the financial ability to close a real estate transaction. Essentially, it’s your “PROOF” that you can close the real estate deal.
I want you to think of the Proof of Funds like “the Golden Ticket,” because...
Wholesaling is when you find a property, get it under contract with the owner, and then sell the rights of that contract to another investor who wants to renovate the property. With Wholesale Real Estate Investing, the goal is to always create what I call “Win-Win-Win Scenarios." Get ready because we're about to take a deep dive into how wholesaling real estate works!
You create a win for the seller of the property because you are getting them out of a sticky situation. For example, the seller can be facing foreclosure and need to sell their home quickly to avoid ruining their credit for years. Maybe the property is owned in a trust with 6 different owners, and instead of putting the property on the market and evaluating 20 different offers, they may just want to work with you, with no commissions involved.
You also create a win for the real estate investor...
House flipping is becoming a popular trend in the modern real estate industry. The trend is attracting investors in huge numbers. Maybe you are thinking of joining the trade but still unsure on how to start flipping houses. If so, read on to learn everything you want to know about house flipping and how to get started.
There are varied definitions of flipping homes. However, it simply refers to an investment strategy where a real estate investor buys a property at a discount and improves it for sale at a higher price later. Flipping houses is a strategy for making quicker profits as opposed to buying, holding, & renting. Profits can be quite lucrative if the conditions in the real estate market are favorable.
House flippers often prefer buying homes that are old and distressed because such properties are easy to acquire at fairly cheaper prices, such as foreclosures or short sales. Thus, they present higher chances for investors to make a...
Once your wholesale real estate business starts to bring in more deals, doing all the work alone will be increasingly difficult. Since sealing each wholesale deal entails completing many tasks, you’ll have to wear different hats. However, some tasks can be very challenging while others will be more mundane. Once work starts pilling up after sealing a few deals, you will find it important to build a wholesale real estate. Doing so will relieve you some workload while allowing you time to build and grow the wholesale real estate business.
Look at your wholesale real estate business as a football team. While growing your wholesaling company, you have to bring the best players and coaches into the team.
The first season entails playing all positions in the team including the position of the owner, head coach, and the general manager. This will help you to develop more skills and get you more involved. However, you...