Using the Time Tested Methods for Wholesaling Houses and Assigning Options
There are many descriptions that people mention for flipping. Some mention it as actually purchasing a property, then quickly renovating it to resell it. This is a strategy you can do but there are also many financial risks that can be a problem, particularly in flat or stagnant markets.
While we refer to flipping, we are talking about securing houses cost effectively and then assigning (or flipping) them to another buyer for a fast profit. When we refer to real estate wholesaling, we are basically talking about finding homes cost effectively and assigning them at a discount to another individual or rehabber; thus the term wholesaling. For further details on lingo, when you flip a house to another individual, this just means you are giving the right to them to take ownership of the home directly from the home owner.
When you get a house under contract, you will have control. Then you can wholesale it to another investor at a larger price or for a flat fee so they can buy it. They take your place in the contract, then take ownership of the property, are responsible for fixing it up and either keep it or sell it to another person for a larger price. A program like the one developed by Matthew Sorensen is a great no risk strategy to create fast money using little or no money or other banking techniques.
Since you have neither of these limitations you can also do as a many as you want making real estate wholesaling a great cash flow system especially once you have a steady revenue model working for you!
This entry was posted on Wednesday, February 25th, 2009 at 7:42 am and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.