While most individuals are familiar with real estate investing terms such as “fix and flip” or “buy and hold,” many are quite unfamiliar with the concept of real estate wholesaling, which is an especially effective option for individuals who are just getting started in this niche. In fact, many of the members in The Bird Dog Program have been involved in wholesaling properties at some point or another. So in today’s article, The Short Sale Gal Kristine Zelazo, founder of The Bird Dog Program, will explore how real estate wholesaling works and why it’s profitable, even for those who are new to investing.
What is Real Estate Wholesaling?
Most often, people think of real estate investing and they assume that you need tens of thousands or hundreds of thousands of dollars as cash-in-hand to get started as an investor. But this is far from the truth and it’s why wholesaling properties can be so successful.
Wholesaling works like this: let’s say that you, a real estate investor, have found a property. Usually, wholesalers seek out distressed properties in need of improvement, short sales, foreclosures and other properties that have a lot of room for profit.
So you speak to the seller and get a contract on the property. Most assume that you need to put down a significant amount to secure a contract, but this isn’t always the case. Many are willing to put a property under contract for a nominal fee.
Once the property is under contract, the wholesaler gets in touch with his or her contacts to find an rehabber who is willing to buy the property as an investment. Most often, the buyer is a rehabber who can renovate and perform home improvements that ramp up the value of the property.
In some cases, the rehabber may acquire the property outright, with a markup that allows the wholesaler to turn a profit. In other cases, the wholesaler and rehabber may continue to work together until the property is rehabbed and sold for an even greater profit, in which case both individuals walk away with a bit of money in pocket.
So for someone who is just getting started in real estate investing, wholesaling can be very profitable. But the key is to find a rehabber or other investor who can take on the property in a timely manner. For this reason, it’s important that you have a solid connection of fellow investors who have cash-in-hand and are ready to move. Without this network, wholesaling isn’t really viable.
Ready to Get Started in Real Estate Investing With The Bird Dog Program?
If you’re getting started in real estate, consider working with a real estate investing mentor like The Short Sale Gal, Kristine Zelazo. Getting started in real estate investing can be somewhat challenging, but when done right, you can stand to make significant profits. You’ll have lots of advantages in this regard when you enter into a joint venture and work with a real estate investing and short sale expert like Kristine Zelazo.
Here are some answers to commonly asked questions in The Bird Dog Program FAQ.
Based in Florida, Kristine works with bird dogs, investigators, buyers and sellers. She is an experienced negotiator. So if you’re an investor seeking to get started involved as a bird dog, want to start buying short sales and need a great mentor or wish to pursue a short sale transaction for the sale of your property, turn to Kristine Zelazo, the Short Sale Gal!
Click here to learn more about The Bird Dog Program, click here or call Kristine at 800.664.0616, x802.