To wholesale real estate in six steps, look for land, houses, buildings or portions that are up for sale. Arrange for finances, attend meetings of the Local Investors Association, look for repair contracts, and advertise the sales to spread the word.
- Set an appropriate price limit
Look for properties that are cheap enough to leave some room for profit, since wholesale involves a lesser profit margin than conventional sales. Search for land, houses, buildings and portions.
- Arrange finances
Make sure you have optimum financing for the wholesale. Cash financing would be the ideal option. Alternatively, do some research, and opt for commercial lenders who do not charge too much.
- Attend a local investors meetings
Visit meetings of a local investors association regularly. Look for appropriate investors who are willing to engage in your wholesale real estate ventures.
- Arrange for repair contracts
In your wholesale plan, make sure you accommodate expenditures related to repair of the properties. To ensure more market value, arrange for a pre-booked contractor to fix the properties right before they are put up for sale.
- Arrange for special procurements
Try to find off-market properties by contacting owners directly. These usually tend to be in places where a good profit can be made and a higher margin is involved.
- Advertise extensively
Advertise the real estate over numerous platforms. Reach out to the masses, and make a name for yourself.