The Naked Truth About Real Estate Investing
I promise to give you the absolute truth about real estate investing, or better yet, what we all know as ‘flipping homes’ and then from there you figure out if wholesaling homes for a living is a scam or do you really have it in you to be a wholesaler.
Flipping homes from what I see has become completely blown out of proportion. Many people are looking at this as a get rich quick thing where they think you read a few eBooks, print out some papers, draw up some bandit signs and build this massive never ending list of cash buyers.
Well that is what it’s about but trust and believe it’s NOT easy….in the beginning.
Just like anything in life you have to get your name out there. Get people talking about you. Good talk hopefully but it’s just like when you go out for a job interview.
You want to leave a lasting impression so that you get that call back.
Well you want to have cash buyers blowing your phone off the hook but the actual truth about real estate investing is they aren’t going to unless they….
- Know who you are or…..
- You have an amazing deal
Once you bring amazing wholesale deals to the table, they will want to work with you and that’s how you build a list of repeat buyers.
It’s all about investing and you have to invest 1 of 2 things and if you have both, it won’t take much for you to be successful in real estate investing.
- You need to have money to invest (money talks; no money then talk is cheap unless….
- you bring expertise to the table
It’s deeper than learning how to fill out contracts or how to go to the title office without GPS and pick up a check.
The absolute truth about real estate investing: To be a great wholesaler, you must give out true and accurate figures, otherwise you make a bad name for yourself.
To be able to cook in the kitchen of flipping houses, you need these 3 main ingredients:
- The ability to contract RE at great discounts through negotiation tactics.
- The ability to build a real cash buyer list (larger, the better)
- Ability to evaluate your market and ability to give close estimated rehab numbers. Both of these require a vast knowledge of the local market conditions and the know-how to quote repair items.
Without ALL 3 of these items, you CAN NOT be a true wholesaler.
To add a 4th item, you should be honest, provide accurate numbers, and provide as much due diligence to your potential buyers as possible.
This will allow you to keep your buyers coming back for more deals.
**any feedback or comments will be greatly appreciated**
8 Responses to “The Naked Truth About Real Estate Investing”
The naked truth about real estate investing blog | Real Estate Investing on January 12, 2011
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World Spinner on January 13, 2011
The naked truth about real estate investing blog…
Here at World Spinner we are debating the same thing……
The naked truth about real estate investing blog | Self Directed Investor News on January 13, 2011
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Dwight on January 13, 2011
Hadn’t forgot about you. I was doing some hunting and prospecting online to get more familiar with real estate around Gwinnett. We’ve been snowed in here in Atlanta ALL WEEK long. I’m about ready to get out to find houses and private lenders. Your post was about how I figured it’d go.
Im done trying to Market on Craigslist | Real Estate investing blog | Real estate investing tips on January 13, 2011
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[...] This post was mentioned on Twitter by Shirley, Larry Ferriola Jr., David Riffey, Ayem Blogs, Jack Stein and others. Jack Stein said: Check this out The naked truth about real estate investing blog: I see so many people that try to flip houses, s… http://bit.ly/fif4HN [...]
Running Numbers Find the Cap Rate on January 20, 2011
[...] all about getting contracts signed and selling properties but like I said in my recent post (The Naked Truth About Real Estate Investing), the more ingredients you bring to the recipe of wholesaling, the more valuable you are and the [...]
San Antonio Home Builders on August 7, 2011
Hi Dennis, you are add lots of important topics. I have found some important topic about Real estate service.
Thanks
Randy
“Las Vegas Home Builders”