In this section of our REI Quick Cash System review site, we would like to talk about what is real estate wholesaling?
Many people ask themselves, exactly what is real estate wholesaling? They think that it might be an investment strategy, but in reality, it is an investing exit strategy. One thing that is extremely important, and something you must understand, is that strategies can be about making money. Two examples of this are that if we are doing something like lease options, or perhaps rehabbing. real estate wholesaling is not something that should ever be a primary strategy, however, it should always be classified as an exit strategy. However, when you are first starting out in this task, be sure that your main strategy involves as many exiting out of as many things as possible. This way there is no money necessary, no loans, and you do not require a lot of money to do anything.
There are many ways that people can wholesale. These will be talked about, but you need to first understand that wholesale is controlling different properties through contracts, and then assigning our rights to what we are selling to the new buyer. This is important if you are choosing this type of model to use because it involves contracting something, but not closing on it. Instead of letting the deal vanish, we exit out of it, make money, and then find a new buyer to assign rights to. What is real estate wholesaling? (wikipedia) This is exactly what it is, but only one of the methods.
In order to understand the process you must understand what true wholesaling is. True wholesaling means you never actually buy property that you are working with, and never show up on the title or close. You also never have to go into escrow. This is because you are assigning the rights to that new contract to a brand new buyer. This is known as an assignment contract. There are other options as well for a person who may be asking what is wholesaling? This is when the new buyer closes and are the ones who go after the money and the escrow. This is why it is a wholesale strategy that you must understand, and be very clear about. This is also why wholesaling a many different things, not just a simple strategy in which people make money, but also a complex strategy with intricate details that must be followed.
Would you like to know another option when someone asks, what is real estate wholesaling? It is the option known as traditional wholesaling. Wholesaling REO’s is when you might have to take the title, close, or borrow money, but is in actuality not a true type of wholesaling. On the other hand wholesaling options, wholesaling to a retail buyer, and wholesaling unsellable properties are times when you may not take the title, borrow any money, or close the deal, which is known as an LLC. Wholesaling commercial real estate, also known as co-wholesaling, is the fastest and easiest way to gain money, and has little to no risk in it. This strategy requires no money at all.
You need to look at what you are doing and ask, what about real estate wholesaling and am I going to be able to take control of my contracts, buyers, and collect fees without actually closing anything or spending money of my own? Real estate wholesaling is a term that is very broad, but you now at least have a better understanding of it. Do not let someone tell you that it is a pigeon hold or any such silliness. The fastest and most effective way to do real estate wholesaling is via co-wholesaling! You can also get information from us about it if you would like. Be sure to check out our REI Quick Cash System Review.