Real Estate Investments: Fund, Fix, Flip series – How to Get Started with Wholesaling - Transform your Mind with Coach Myrna

46:00
 
Share
 
Manage episode 180354566 series 1255257
By Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio streamed directly from their servers.
“A real estate wholesaler contracts with a home seller, markets the home to his potential buyers, and assigns the contract to the buyer. The wholesaler makes a profit, which is the difference between the contracted price with the seller and the amount paid by the buyer.” Tip of the week: So What Exactly is Wholesaling Real Estate? Wholesaling is often marketed as a low-to-no cost way of getting into real estate investing and this can be true. A new wholesaler can certainly profit with a much lower initial cash outlay than an investor who has to buy a property and rehab it. However, the successful wholesaler has to have a firm grasp of what makes for an attractive deal – once you understand this process of wholesaling, it becomes much easier and can be broken down into a serious of repeatable steps. Word from our sponsors: Are you looking to invest in the south Florida market? The time is ripe for investors. Call MyHelps Real Estate Investment Services Services LLC at 954-999-6125 for all your Sales, Rentals or Property Management services. We are licensed in real estate and property management and will buy or lease your property. Don’t delay, Call today 954-999-6125 My co-host today on this podcast is Trevor Evans. Trevor is a Professional Speaker, Real Estate Investor, Retail Store Owner. Speaker/Trainer for Rich Dad Education and Founder of Personal Awakening brand "Being Normal Sucks." Trevor has also been married for 19 years and have 2 beautiful daughters ages 22 and 18. Bio: Coach Myrna Young – Certified Professional Spiritual, Life and Executive Leadership Coach, Motivational Speaker, Published Author, Realtor and Real Estate Investor Past president and CEO of A Royal Livery Limousine Service, and Entrepreneur of the year, Myrna is now the President and CEO of MyHelps Consulting LLC. I am also married and the mother of 5 children. Myrna currently lives in South Florida. Are you on a journey to find happiness through the doorway of wealth? Living in financial abundance is one way to find happiness but not fulfillment. You deserve happiness, and you CAN attain it. The Transform Your Mind with Coach Myrna podcast has entered into collaboration with with Swami’s Brahmananda to offer my listeners guidance and the power of an entire community of happiness seekers, so you too can wake up happy. For more information please clink the link below and start your Happiness journey www.nakedmoment.com/transform Show Notes: • Topic: How to get started with real estate wholesaling 1. Question 1: Tell us of your path to becoming a Speaker/Trainer for Rich Dad Education. 2. Question 2, What do you feel is a step by step plan to becoming a Real Estate Wholesaler? Step 1: Create a Database of buyers: Contact local Rehabbers and Contractors and ask them what kind of properties they are looking for to rehab. You can find them at your local Chamber of Commerce or your local REIA Ask them these questions. 1. What kind of properties are they currently rehabbing? 2. Type of properties they like to work with Eg. Single family or multi family? 3. What are they certified to work on? Eg. Are they certified to work on burn down or water damaged properties? Step 2: Put an AD on Craigslist Ask the following questions when you get responses to your AD 1. Is the property listed with a Realtor? 2. Are you speaking with the owner of the property? 3. Is the property in Foreclosure, probate, bank owned, or free and clear 4. Does the property need rehab? If so what is the estimated cost of repair. Step 3: Put together your power team which includes your Title and Escrow Agent. If you structure your deals properly, you could use one escrow deposit for 10 properties! Question 3. In our first episode you talk about process. You said that setting up a process prevents failure. What is the process for the real estate Wholesaler?

45 episodes available. A new episode about every 10 days averaging 51 mins duration .