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Ep. 10: Real Estate Wholesaling Guide: Expert Tips from Steve Trang
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In this podcast episode, Steve Trang, the founder of Real Estate Disruptors, shares his real estate journey and provides valuable insights on working with wholesalers. He discusses his entry into real estate after the dot-com bust, the benefits of leveraging real estate for wealth creation, and the importance of collaborating with wholesalers who bring in below-market deals. Steve also offers tips for investors on finding good deals, while emphasizing the need for clear objectives in real estate investing.
Key Takeaways:
- Wholesalers generally sell fixer-upper properties that are below market value and often off-market.
- Don't rely on a wholesaler's estimate of a property's value. Always do your own due diligence and underwrite the deal yourself.
- Be clear on your objectives and devise a plan to accomplish them. Identify the rules of the game and what you're willing to sacrifice upfront so you don't compromise on your values later on.
- To find a good wholesaler, start by Googling "sell my house fast" and opt in to talk to the wholesaler rather than clicking on their ad. Once you buy a deal from a wholesaler, other good wholesalers will find you.
- When working with a wholesaler, be responsive and perform when you say you will. Don't back out of a deal unless there are substantial changes.
Episode Guide:
Real Estate Story | 2:35
Regret when staring Real Estate | 8:22
Being a Realtor isn't What the Book Said | 10:55
First Lesson | 12:49
Real Estate Portfolio | 14:41
Real Estate is a Good Way to Preserve Wealth | 16:46
Don’t Lose | 18:00
Real Wealth Operates in Cash | 18:49
Wholesaling Explained | 19:39
Sales Coaching Business | 22:35
How to Sell Effectively | 23:34
Bandit Signs | 25:20
Marketing: We Don't Need Good News | 26:50
Why Work with a Wholesaler | 27:24
Equity | 30:14
How to Find Wholesalers | 31:42
How to Source Buyers | 33:27
Identify a Good Wholesaler | 34:04
Foreclosure | 36:16
Work Well with Wholesalers | 37:12
Common Mistake | 39:07
Regrets | 40:38
Goals | 42:10
Favorite Book | 44:15
Cash flow or Appreciation | 45:07
Advice | 46:30
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@steve.trang
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