Monday, February 04, 2008

Real Estate Wholesaling?
I have had some people asking me about this. I have been doing some research and have ordered some material about the subject. Does anyone have any input that you would like to share? I will let you know if I think it is worthwhile and ethical once I know more about it.

5 comments:

merrilyjames.blogspot.com said...

May I ask what Real Estate Wholesaling is?? In 25 words or less!! LOL

holmessellshomes said...

Well, as far as I can tell it is a nontraditional approach to investing in real estate where you put a property under contract, but you are actually not buying the home yourself. You have a list of buyer investors that you are looking for. Once you tie the property up with subject ot sale then you bring in your buyers a]to see if they want it, If they do then you close the deal with them as an asignee, so you don't actually have to put out any money, the investor does, and you get paid the difference betwen what you negotiated for a price with the seller and what you offer to give it to the investor for. This happens in distress dales where you can negotiate a whole sale proice on the home. So you make money and the investor makes mon ey when he resells.

That is not 25 words or less, but that is kinda the theory. I can let you know more about it when I know more. It is supposed to be a really good wayof investing and making money for someone who has no money to invest. You are basically putting a buyer and seller together and the buyer is paying you to get the good deals for them! I am just not sure if this takes unfair advantage of a seller who is vulnerable due to foreclosure proceedings or loss of job or transfer etc.. Everything would have to be totally open for me to feel comfortable with it. It is a curious concept though. Its the same idea as buying anything from a manufacturer, then selling it wholesale to someone who is going to sell it retail, except you don't actually put the money out.

Is that as clear as mud? LOl

holmessellshomes said...

oh my, what terrible spelling mistakes!! Too fast and didn't proof read!!

merrilyjames.blogspot.com said...

Wow, you did great Tina,
Now for this rusty old brain to understand it fully. I think if I keep reading it over a few times (seems how I learn; over and over and over and over and over ) LOL
I will get it.
Thanks for taking the time for me.
Appreciate that Tina.

jessiegurl79 said...

Hmm.. that's interesting. I'd like to hear more about this.