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Wholesale Deal Help Information

W

wefindituownit

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Apr 22, 2010
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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 .
 
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
 
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?
 
Associate with senior investor in the begining. Develop your credibility and then go alone.
 
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?
 
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
 
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.
 
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
 
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
 
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