One of the best ways to get started in
real estate investment is to wholesale properties. In a word, wholesaling is the process of locating a good deal and passing it on to a buyer. This allows you to avoid any risk and avoid tying up capital for the duration of the rehab. When you wholesale real estate, you get a head start on the competition, but that doesn't mean you'll be successful. There is a delicate line between success and failure in real estate, as in anything else. To wholesale real estate, you do not need a license; however, you must be the transaction's primary buyer.
Investors who want to understand how to start wholesaling houses will be relieved to learn that the procedure is simple. To get started wholesaling, follow these basic steps:
- Before you start, do some research on your local market.
- Make a buyer's list for your neighborhood.
- Find a financing option that works for you.
- Begin looking for properties that might be suitable for wholesaling.
- Choose between selling the contract and working on a double close.