As a investor, you want to be flipping as many houses every single month as you can. You would absolutely love to do 10 or 20 deals every month because you know that making money in this economy is possible while all your competitors sit on the sideline. So how to do find the houses to flip? Got a secret someone at a bank throwing you houses? Well most of us don’t but here is how many investors do it.
So if your flipping numerous properties every month and know how time consuming it can be then you realize that finding deals just isn’t possible in your schedule. You don’t have time to go out and do all the direct mailings and meeting with realtors to look at every single house that came on the market that morning or to even talk to all the R.E.O. managers so they can feed you some deals so what do you do?
We are called wholesalers and we do all the work for you but we will take some profit from the deal so beware of it and don’t be shocked because sometimes it can be a good amount of money that we make. I know personnally that I spend a huge amount of money on internet and direct marketing campaigns to find as many deals as possible for my investors and I can get anywhere from 10-15 deals every single month if it’s done correctly.
You will have to put a earnest money deposit down (usually twice the amount that the wholealer paid) but when you do, the house is yours. They assign the contract to you and congratulations, your the new owner of the house. You need to do your homework on the house though. If the numbers are wrong then you just bought it and good luck on what your going to do then. Also if you mess up and can’t close then your deposit is gone. You messed it up not the wholesaler.
So how many deals can a wholesaler get every month for you? A good one can supply you with 5 to 15 deals every month. Thats what I do, I find the deals you don’t want to and I get paid for it. It’s not easy but it can be financially rewarding to do it….sometimes.