Real Estate Wholesaling: Quick Tips To Start & Run A Lean Business

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on Sep 28 in BestTransactionFunding

Want to get into real estate wholesaling, or just run a leaner business with more profit? Check out these quick tips…

 

Trim the Fat

 

There are many bills and expenses we accumulate that are really unnecessary, which can eat up a lot of profit, and can slow down growth. Real estate educator Larry Goins says that you can even flip houses today just using email. No phone needed. With free Wi-Fi growing, you may even be able to survive without an expensive phone service or contract. Just a phone, and using free internet to get online, and using Skype or Facetime for calls if you really feel you need to.


While you may want a laptop or tablet as well, know that you probably don’t need a top of line Mac. You can get by with something basic, and a backup device or two. A Dell or Acer will work just fine.

Some millionaire real estate agents are even ditching their cars in exchange for Uber.

Where You Live

Where you live can also make a massive difference in your net gains. You no longer need to live where you wholesale real estate. You can do it remotely from anywhere. Take advantage of that. You can live in Detroit dirt cheap and flip million dollar houses in the Hamptons. Or you can live in Nicaragua or Mexico and flip houses in Florida, Ohio, or California.

Find the Buyers First

Instead of finding the inventory, and then carrying the weight and just hoping you can sell, find the buyers first. Then you are essentially pre-selling and filling pre-orders.

Use Transactional Funding

Use Best Transaction Funding finance your deals, and back to back flips. That way you are in out and paid in hours. You can also get your closing costs and 100% of the funds you need covered.

Find the Best Markets

Find markets and motivated sellers that allow for least out of pocket expense. It’s traditional in some markets to have to put down a big deposit, and appraisal and inspection fees can be far higher on some properties than others. Find those that let you operate with as little risk as possible.

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