Wholesale Deal Help Information

[wefindituownit]

Hi, I am a new Real Intvestor in the Toronto & Hamilton Area. I am starting my business around Lease options & wholesaling properties. If anyone can point me in the right direction in terms wholesaling because I have found a deal and would like to put in an offer. I am unsure of the detailed process of assigning the contract to another investor. Any help is greatly appreciated .

 

[housingrental]

Proceed with caution
Make sure you understand what your getting into before taking action
As a starting point try reading through Mark Loeffler`s new book investing in rent to own

 

[wefindituownit]

QUOTE (housingrental @ Apr 22 2010, 08:26 AM) Proceed with caution
Make sure you understand what your getting into before taking action
As a starting point try reading through Mark Loeffler`s new book investing in rent to own

Thank you for the reply, I currently reading the book and it has alot of good tips for starting a real estate investing business. I would like the wholesale properties and do sandwich lease options but I don`t find detail steps to the process. I don`t want to open into the market try something and no one understand or trust me. Do you have any experience with wholesaling?

 

[manojsingh]

Associate with senior investor in the begining. Develop your credibility and then go alone.

 

[housingrental]

I refuse to beleive wholesaling is a viable business, widget`s excluded of course

QUOTE (wefindituownit @ Apr 22 2010, 02:45 PM) Thank you for the reply, I currently reading the book and it has alot of good tips for starting a real estate investing business. I would like the wholesale properties and do sandwich lease options but I don`t find detail steps to the process. I don`t want to open into the market try something and no one understand or trust me. Do you have any experience with wholesaling?

 

[wefindituownit]

QUOTE (housingrental @ Apr 23 2010, 07:52 AM) I refuse to beleive wholesaling is a viable business, widget`s excluded of course

Please explain why? I am new and would like to generate captial to go out do bigger deals. Buy and holds and JV`s

 

[wefindituownit]

So bird dogging?

QUOTE (manojsingh @ Apr 22 2010, 03:14 PM) Associate with senior investor in the begining. Develop your credibility and then go alone.

 

[housingrental]

I`ve seen very few have any success with this
The ones that I`ve seen make any money $$ haven`t been impressive. Results have been irritated realtor`s and sellers. I`m sure there are a few, but I`ve not seen anyone, ever, turn "wholesaling" into there sole business over the long term and make good $$$ off of this.
Your time and reputation are important things... and if your specializiing in a market you`ll burn bridges that will cost you more $$$ in the long run... if you have any succcess at all...
I think there is more money to be made off teaching others about this topic than there is actually doing it.

To generate $$$ for buy and holds why not:
Pay down mortgage.
Do this by lowering your other expenses to free up funds and by making more $$.
Take on more hours at work?
Take additional courses to allow for higher paying work?
Time..
Then take out heloc.
Investing generally involves having $$ to invest.

QUOTE (wefindituownit @ Apr 23 2010, 05:16 PM) Please explain why? I am new and would like to generate captial to go out do bigger deals. Buy and holds and JV`s

 

[RedlineBrett]

QUOTE (housingrental @ Apr 24 2010, 11:43 AM) I think there is more money to be made off teaching others about this topic than there is actually doing it.

To generate $$$ for buy and holds why not:
Pay down mortgage.
Do this by lowering your other expenses to free up funds and by making more $$.
Take on more hours at work?
Take additional courses to allow for higher paying work?
Time..
Then take out heloc.
Investing generally involves having $$ to invest.

Adam wins post of the month with this one

 

[housingrental]

Thank you Mr. Turner