10 Steps To Successful Real Estate Wholesaling
Educate Yourself
Invest in your real estate education before investing in your real estate business. FreedomSoft, the new real estate investors software system, has a built in education feature that will take you through the wholesaling process step by step.
Direct Mail Campaigns and Lists
Your real estate wholesaling business will not work without motivated sellers calling you with deals and buyers calling you to buy your deals. There are many ways to market your business but the most effective methods are direct mail campaigns and websites and FreedomSoft will manage your marketing so you can build your buyers and sellers list efficiently.
Network
Social media formats on the Internet such as LinkedIn and Facebook offer great networking opportunities. You should also join your local real estate investors association and real estate clubs where buyers and sellers meet to network.
Your Buyers and Sellers Lists
The buyers and sellers information you obtained through your marketing and networking will need to be automated. Since you can't operate a successful business effectively from a desk cluttered with business cards and sticky notes, FreedomSoft will manage your buyers and sellers information and send automatic emails to them.
Find a Bargain Property
Find bargain properties at below market prices that may be vacant, distressed or have owners who are distressed due to financial or personal hardships. Flipping wholesale properties will be quicker and easier if you stay away from those that require major rehabs.
Negotiating Price
You need to know the property's worth before you can start to negotiate price. In wholesaling, you are buying bargains and selling them to bargain hunters so make sure the price you pay is on the low end. FreedomSoft will review your deal, giving the property's value as well as other property values in that particular area.
Check For a Clear Title
Never purchase a property without first checking for a clear title. Your motivated seller can usually help you with this or you can use the services of a good title attorney.
Contracting the Property
When you find a deal and the seller agrees to your price, don't hesitate. Meet with the seller and have him sign a standard purchase and sale agreement and put up a small binder deposit. Set your closing for 30 to 45 days in order to find an investor to purchase the contract. Contracts can be confusing and intimidating. Using the contractor generator in FreedomSoft will make this task worry free.
Flip this House
Now that you have the contract from motivated seller, simply market the property to the real estate investors in your buyers list. Once you have a buyer, use the same house-flipping contract and require earnest money from your real estate investor to ensure he is a serious buyer. Your real estate investor pays closing costs and you sign as the seller on this contract.
Let's Close
The title is clear and you have set a time that works for the buyer and seller. You should close your deals with a real estate attorney or title company.
Now for the best part, collect your check then find another deal!
Go to www.Preston-Ely-Freedom-Soft-Review.com and review this amazing new real estate software program to see how FreedomSoft can automate your real estate wholesaling business.