How to Wholesale Real Estate for Beginners | Wholesale Real Estate for Beginners |

How to Wholesale Real Estate for Beginners | Wholesale Real Estate for Beginners |

How to Wholesale Real Estate Step by Step_
Real Life Transactions Hi, this is Neva at
Today I�m continuing my segment on going over a couple of transactions that I worked
on answering these four questions: How did I get the lead or find the property? How was
I able to help the property owner or to motivate them to sell? Or how to find the cash buyer?
And what was the crazy thing that happened? This one was a property � how did I find
the lead? I found the lead, I actually called the property owner and asked him if he was
interested in selling. At that time I think I probably called a couple of hundred and
finally I found somebody who said, �Yes.� So calling is a good technique but you have
to be willing to call a lot. I would say I�ve definitely called like
a thousand people so far � so I call a lot. I haven�t called in a long time but when
I was calling it was a lot. It took me a full year to get somebody that says, �Yes.�
So that�s a way � a marketing method as well.
Two, so what was the motivation for the property owner to sell? In this situation the property
was tenant-occupied and his requirement was that we closed on the house with the tenant
in the house. The issues deal was that the tenant�s rent
was like the average rent probably in that neighborhood would be like $3,000. And if
I can remember correctly she was paying like $600. It was like something really, really
crazy because it was like a family member but then you know you�re kind of stuck because
then you can�t evict the family member. So she had been there like forever and he
was just kind of like, you�ve got to buy � you get her out type of thing.
You�ll find though that when the rent is that low that even still the cash buyers are
going to be kind of hesitant sometimes to close with the tenant in there because then
they�re also going to have to fight to get this tenant out as well because you can�t
really buy a property and then raise rent from $600 to $3,000. I really think that this
person isn�t going to be able to pay it. So you kind of know, whoever buys it knows
they�re buying this headache. So in this situation what I did, I said, �Okay,
we�ll close with the tenant,� and what I did, I negotiated for us to close with the
tenant and then we held back. The title company held back, I think it was $5,000 or something
like that. And what that does is they hold it until the
tenant leaves. So it�s kind of like it helps the seller to also help us get the tenant
out. And just in case we can�t get this tenant out then that money is used to actually
start the whole court process and eviction process, and things like that so that the
cash buyers don�t have to use his own money to get the tenant out. So that�s what I
used in that situation to get around that issue that he�s saying, �Hey, I definitely
need you guys to close with her in the house.� So this is a situation where it�s definitely
a good transaction for a cash buyer because a traditional person is not going to want
to buy the headache of going through this knowing that if you want the property you�re
going to have to evict someone. It�s a great opportunity for us but I think
you just have to be always be aware that you�re always trying to kind of problem-solve things
so don�t just give up when things like this happen. So once I�d negotiated that then
I had a lot of cash buyers that were interested in buying the property.
How did I fund the cash buyer that did buy the property? Actually, by the time I got
this house in the contract I had like a really large buyer�s list. But it just so happened
the guy that purchased it, he�s actually the first cash buyer that ever gave me his
card and I got his card at a Rio meeting. I was at a Rio meeting, they used to let us
� they still do, you put these stickers on saying like if you�re a wholesaler, if
you�re a rehabber. And so what they say is if you�re a wholesaler then you should
be making sure that you�re networking with a rehabber because the rehabber will be buying
what you get on the contract that you make to wholesale.
It helps the right people to network with each other, and so he was the first person
that I have build myself up to, to go to � I think at that time I hadn�t wholesale anything.
I just had like the sticker, I was like trying to claim it and say, �I�m wholesaler,
I need a cash buyer.� And he gave me his card. So it worked out because I probably
wasn�t able to actually get him a property � I�m sure like a year or two had passed
but it was great that I still had him on my list and he bought the property. So that�s
how I found the cash buyer. And then my last question I always answer
is, �What crazy happened?� So what happened on this one was we got ready to close. We�re
ready to close, and this property was actually it was owned – it was free and clear but when
we got ready to close it was showing that there was like outstanding loans from 1980
something and the owner was like, �I don�t remember ever taking out a loan.� He didn�t
have the papers stating it was paid off, or what was going on.
And then, the issue was because the loan was so old, excuse me, the original bank and the
bank that it was now was I think it was like five, six companies it just had been sold.
And if you ever work for a company and they merged, and you know that when companies merge
they don�t really merge their systems. They just slap the new company name on, and they
keep the systems separate. So then I�m like calling, and calling, and
calling trying to find which section of the bank now has access to those old accounts.
So that was taking me days. I even at this point this title company, they sent someone
because we couldn�t � the bank couldn�t even find the loan to say if it was paid off
or it was on. It was just literally saying, �We can�t find,� every time we reach
someone they were like, �Oh, I don�t have access to loans that old.�
So finally we were able to find it and it turns out that the loan�s paid off like
the guy said because he�s saying, �I can�t even remember taking out a loan.� And it
was for a tiny amount, and it was paid off but the bank never went back and released
that lien when he paid it off so that�s why it was still there. So they released it
and then we were able to close. So that�s why I�m saying. It�s things
like that that you have to � until you get to the closing table and everything is final,
you have to monitor and be prepared to jump-in and solve some issues because more than likely,
like I said, something�s going to happen because at least for me I remember when I
first started, my mentor at that time, Tom Z., he was saying that, �Something always
happens.� And I used to think, �Oh, I�ll just make
sure I�ll dot all the I�s, cross ever T,� but even that is just out of my control
that something just always happens, somebody�s calling me which is something crazy so just
be willing to jump in and work. Because if I don�t jump in and be the person calling,
and making sure somebody finds this loan and get the release then we�re not going to
close and the whole, entire thing is going to fall apart. And I don�t want that for
the seller and I don�t want that for myself. So that�s my tip for this week and I�ll
go over this again, those four questions: How did I find the lead? I called. What were
their motivating factors? And also, this house needed a lot of repairs, the site also that
the tenant is in there, it also needed a lot of repairs two. And three, how did I find
the cash buyer? I found the cash buyer at a Rio meeting. And four, what crazy happened?
There was this old lien that we had to make sure it was released on the property.
So continue to send me your questions and any other thing that I could tell you that�s
helpful on my wholesale deals. Let me know those questions as you have. But these are
some of the common questions that I�d been getting that I thought if I answered, and
actually gave you examples it would be more helpful.
So I�ll see you � like I said, I�ll try to do two videos a week so I�ll see
you next video. And remember to subscribe! Bye, bye.

56 thoughts on “How to Wholesale Real Estate for Beginners | Wholesale Real Estate for Beginners |

  1. Can you tell me what you use to record and edit your videos?? And how you get the background kind of blurred. Thanks!!

  2. Another great video. Question:: Do I need a LLC to wholesale properties on the MLS?

  3. nice depth of field with the d800

  4. Hey Neva you know what instead of spending money to evict someone how about paying them to leave and offering to assist them with relocation efforts…your thoughts on this ma'am please thanks

  5. And also ms Williamson could you assist me..I was trying to access your eBook the link goes to Facebook and says this page is no longer available

  6. great job!

  7. Awesome

  8. How do I find the owners of distress properties?

  9. Good job and great information

  10. Hi Neva what's your advice on the first move if I made letters that say I want to buy your home, where do I get the adresses to send them. For example where is there a list of probate listings? Do you ever partner up on deals in exchange for a starter walk thru?

  11. I think you did a decent job, but please use less words like, "Um", "Uh" and so on. It would help to try and rehearse your script a bit. Maybe joining a Toastmasters Club in your area would help make you a better speaker and teacher. It will put you at ease in front of the camera. Other than that, you did good.

  12. What if you cannot find a buyer,what will happen then?

  13. I'm so happy that I found your channel!!!! I live in Florida am trying to get started in the Wholesaling Real estate… I haven't watched ALL of your videos yet but that is DEFINITELY  on my"to do" list for this week end.

  14. You realize that it is illegal to cold call property owners if they are on the Do Not Call list?

    What a joke…

  15. How do you put the house under contract?

  16. You are doing a great job and have very informative information. I am looking for a coach or mentor and wanted to know if you do or know someone that can help me?

  17. Hey Neva, great video, quick question, how do get a lender that works with wholesalers? I have properties that I'm interested in, and cash buyers on hand, but no way to make all cash offers because I don't have a proof of funds letter. This is my only road block to getting started

  18. Wow I can't believe this video now has over 10,000 views. Thank you all so much. Feels good to provide information people find inspiring and helpful.

  19. I am looking for a mentor..Do you mentor wholesalers

  20. Did you start wholesaling with little to no money? (something I'm trying to do) or what is your story. Please share ☺☺☺

  21. Neva is straight and detailed.  I wish I had known about her 2 years ago…

  22. @Neva Williamson how do u arrange your payment in this deal? Who pays u, the buyer or the seller? And are they cool with u getting your cut out the deal?

  23. When you get a seller on contract do you pay the title company upfront to run a title search, or after the deal closes?

  24. i would love to learn how to wholesale the coorect way..

  25. Hi Neva

    I would like to know, do the closing costs/ closing agent fee come out of the commission you make? Also, if there are liens on the property, do the sellers have to pay them before selling the house or do they get passed down to the buyer?

  26. you lost me with the pic of the jewish boy
    so anti semitic!
    belonged to nazi propaganda
    shame on you!!!

  27. Do you recommend getting a LLC when FIRST starting out as a Real Estate Investor doing wholesaling? Advice please….

  28. This was awesome information and a great in-depth example. Thanks for sharing!


  30. Thanks! for sharing this valuable information Neva.

  31. Ahh, you are a real estate INVESTOR. IS this an accurate statement :" real estate agents buy and sell to help people (clients), realy estate investors buy and sell to help themselves?" For instance real estate investors don't help people sell thgeir houses to other people, right? You guys buy properties to make a personal profit? & can you discuss having an escrow account, is the money made transferred to the investor's personal account?

  32. I'm watching them all. I'm a newbie… very newbie. Your very thorough so I'm taking notes.

  33. Who is your mentor? Or can you recommend a reputable mentor?

  34. Do you not feel that you and the owner you purchased the property from screwed over the tenant?  I certainly would…..

  35. why she keep smacking her teeth

  36. How do you get the numbers?

  37. hi Neva my name is carla I'm new to wholesaling i want to know what is the exact first thing to do to get a house under contract. i have no buyer list don't know any private lenders I'm just raw what do i do. i live in los angeles,ca and I'm focus i really want to learn this business can you please help me and lead me step by step

  38. i am looking to start wholesaling and have a crazy good connection or two for buyers/rehabbers. this is exciting for sure. even more if i can learn from them.

    real estate will never go away but u have to be careful you are protected. exciting stuff!

  39. Did you go to school for this?

  40. It would be great to network with another young investor!

  41. hi neva,
    my name is ervin diggs
    and i am from nc.
    how do you wholesale

  42. What is your criteria when selecting a house to pursue?

  43. Where did you find your mentor

  44. Great speaker,love this video.

  45. How can you find a good mentor?

  46. hello Neva I. get most to all of my leads thru email (Seller) or Social media. FaceBook,Linkedin. my personal email from investors 1a.)How will I proceed with this kind of deal and 2b.)What kind of Buyer will. I. sought. out for these deals?3c.) shall I make them sign an JV agreement. to move forward with the [email protected]

  47. Thanks wow interesting great info just subscribed

  48. Thanks so much beloved

  49. Can i do wholesale real estate in canada if im not a resident? On study permit?

  50. This was great information! Thanks for these videos!

  51. New to the Chanel and to whole selling! Great video by the way.I have been trying to get a purchase and sale agreement, assignment agreement and memerendum contracts online and networking but I haven't had any luck. Any suggestions were I can get this documents? Thanks in advance!

  52. What list did you call and how did you get the owners number ?

  53. What list did you call and how did you get the owners number ?

  54. Wholesaling sounds like something I’d excel in. I’m ready!!

  55. Peace
    Can you please tell me where to find a mentor in Los Angeles CA?
    And I really like your vids!👍

  56. How do you do a title search and does it cost money?

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