Real estate wholesaling is one of the most hated, commonly criticized, and least-trusted types of real estate investing. Most people paint real estate wholesalers as those who lie to sellers, incorrectly run comps, and try to market bad deals to unexpected investors. This is all said while top real estate investors around the country continue to buy from wholesalers. So what is it? Are real estate wholesalers a parasite to the property investing industry or are they the symbiotic counterpart every successful investor needs?
To put it simply, wholesaling real estate is when a wholesaler will put a property under contract for a certain price, then market the property to investors at a higher price, and keep the difference once the property is handed off. Think of wholesalers as the middlemen between a distressed seller and a real estate investor looking for undervalued deals. In a perfect world, all three parties walk away from the transaction happy. But how often does this happen?
Jamil Damji, James Dainard, and Henry Washington are on this week to talk about how to wholesale, what most wholesalers get wrong, and whether or not real estate wholesaling still works in 2022. Jamil and James are both active wholesalers, while Henry often buys his properties from wholesalers. They give a “wholesaling 101” course to any new investor looking to find deals as well as to new wholesalers trying to get their seed money started.
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~~~~ Grab This Episode's Data Drop (Questions to Ask Your Wholesaler): www.BiggerPockets.com/DataDrop4?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ The Newbie’s Guide to Wholesaling in 7 Simple Steps:
~~~~ The Big Mistake I Used to Make When Qualifying Wholesaling Leads:
~~~~ Connect with Dave and Our Panel of Guests: Dave Meyer: Henry Washington: James Dainard: Jamil Damji: Kathy Fettke: ~~~~ Follow Dave and Our Guests on Instagram: Dave: @thedatadeli or Henry: @thehenrywashington or James: @jdainflips or Jamil: @jdamji or Kathy: @kathyfettke or BiggerPockets: @biggerpockets or
Episode 20
Show notes at:
00:00 Intro 00:50 Between the Headlines 02:13 Recession and Interest Rate Predictions 05:27 Real Estate Wholesaling Explained 21:18 Is Now the Right Time to Start Wholesaling? 29:03 Which Properties to Wholesale vs. Keep? 36:39 What to Look for in a Wholesaler 44:32 Before You Start Wholesaling 45:51 Crowd Source: Investor Truth or Dare
#biggerpockets #onthemarketpodcast #ep20
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By: On The Market Title: Real Estate Wholesaling: A "Risk-Free" Way to Start Investing? Sourced From: www.youtube.com/watch?v=gYhWLCbzKKU
