What is real-estate wholesaling?

Real estate wholesaling in new jersey, real estate wholesaling involves wholesalers, sellers and buyers. The seller issues a contract to sell his property to the real estate wholesaler, for which he has to find the prospective buyers and sell the property at a higher price to the potential buyer before the seller closes the deal.

The real estate wholesaler should add a contingency stating that he will back out if he doesn’t find a potential buyer before the deadline. This is added in order to avoid risk.

Why this method is preferred?

  • There is no risk involved when you are a real estate wholesaler.
  • You only require less capital for your investments. You need not spend on repair and renovation work.
  • You can build a network of investors and find enormous number of deals going on in the market.
  • It is a stepping stone to flipping houses.
  • No license is needed.
  • Positive cash flow.

For new investors, there would be only obscure knowledge about real estate wholesaling, so here are the few tips to help you out.

  • Real estate wholesaling in new jersey blogs written by professionals and mentors which will help you out. You should also be aware of scams happening in this field. Learn the methods on how to prevent it and how to stay scam free.
  • Find active real estate wholesalers in your neighborhood. Converse with them and you will get to know the shortcuts. You can also learn few tricks from them. Collect potential buyers list from them.
  • Browse through MLS and make your first offer once you are confident.
  • Ability to get discount in your real estate deals.
  • Investors should equip themselves with the knowledge about local market conditions, rehabbing homes, estimating repair cost as it is very important while making your investment.
  • Prepare on how to close the deal.

Step by step guide for real estate wholesaling for new investors

  • Create a plan that has to be used to sellers and buyers.
  • Start building buyers list
  • Generate leads
  • Direct marketing like mail, postcards
  • Find a property and inspect
  • Negotiate the deal

How to wholesale a deal in a week or less?

Once you find a deal, add signs to the real estate property and pass it onto your potential buyers list. They will call you back if they are interested. Make use of the zip code to locate the property.

Contact the landlords to know if they are interested in more rentals. Find out the active investors through property appraiser. The investors who own more than 2 or more properties might be interested to buy another real estate wholesaling in new jersey. Make a separate list and contact them. Sitting at home you can find all this information through online search; it can be easy if you are finding the active investors, buyers, wholesalers in your own area.

You can browse wholesale property listing at Wholesaledealslist.com offering a wide range of rehab properties for sale at affordable price.