How to Wholesale Real Estate

How to Wholesale Real Estate

okay thanks for being here and in
today’s video we are going to be talking about how to wholesale real estate okay welcome back to another episode of
real estate freedom TV I am Jerry Norton your host and I’m excited to be here
with you on this episode and in this channel and all these all these videos
that I do it’s all about how to help you achieve freedom in this business freedom
in your life to have be due and give everything that really matters the most
important things in life that’s what this is all about and wholesaling real
estate is definitely one of the best vehicles for achieving financial freedom
once you achieve achieve financial freedom it then frees up everything else
in your life so that you have the time right you start with financial freedom
then you get time freedom from that and that’s so exciting
I’ve been able to achieve that in my life remember I became a millionaire in
real estate by the age of 30 doing what I’m sharing with you on this channel on
on this video so how to wholesale real estate in previous videos we talked
about what is wholesaling real estate and here on this video I want to break
it down into three steps for how to wholesale real estate okay so remember
real quickly just a brief overview wholesaling real estate is when you get
a contract for the purchase of a property and then you flip or assign
that contract to another investor buyer who steps in and buys the property and
pays you a fee for your contract okay that’s wholesaling real estate it’s
got to do with the paper its flipping your contract not the house and it’s a
great way to make 3 5 10 all the way up to $25,000 or more on a transaction and
I’ll share with you a deal I did recently in a minute where I made
$32,000 on a wholesale deal super cool ok but first let’s talk about the 3
steps so step number one when it comes to wholesaling real estate is finding
deals ok finding deals in order to have a contract in order to get a contract
that you can flip and make money you’ve got to have a good finding and we call
this lead generation or acquisitions right you’ve got to be able to go out in
whatever market you’re looking for and farming and find leads find motivated
sellers who sell their properties okay this is
perhaps one of the most important the absolute most crucial things that you
can do and I’m going to come back and talk a little bit more about this in a
minute but this is where the majority of your time energy and effort needs to go
it needs to go into finding deals because if you get good at finding if
you become a deal finding machine you will make gobs of money in this business
you will become rich in this business because everybody right now is looking
for deals deals there’s a shortage of deals which means if you’re able to
learn how to find and locate and get them you are way ahead of everybody else
and people will pay you handsomely for those deals they’ll pay you more than
they’ve ever paid for deals in the entire 15 years and I’ve been doing this
full-time okay there has never been a better time than
right now to learn how into wholesale real estate ok so finding deals is step
number one number two is all about the structure it’s all about how you
structure the deals okay so you find a good deal now what you have to do you
have to analyze it you have to get a contract you have to you know negotiate
with the seller agree on a price and you need to get that deal at the price where
you have room to then flip it and make money on that contract
okay so structuring becomes very very important this is our deal analyzing
this is our paperwork right it’s putting that together and the third step is then
where we flip the contract okay we flip it and really hear what I’m talking
about is cash buyers cash buyers and so we call them these are investors in the
marketplace local to where you’re looking for deals and they have funding
they have capital and they want to buy they are aggressively buying in fact
they want deals like they want error but here’s the thing a lot of investors
especially landlords even fixing flippers they’re late
they don’t want to go out and find deals they don’t want to go out and make
offers they don’t want to do the work to get the deal they just want the deal and
do their thing you know go in there and rehab and and or if they’re it’s a
landlord they just want to put a tenant in there and that’s their thing okay
there is such a demand for wholesalers in the marketplace right now because if
you can go out there and you can put a little hustle in there you can put some
systems in place you can get some tools and some training and you can go out and
know how to find these motivated sellers how to talk to them how to structure
these deals then you can flip for a lot of money okay so let me illustrate just
how cool this is just how the magnitude of what you can do with wholesaling real
estate so recently I did this deal and this is in Oak Park Michigan and Oak
Park is an area where I’ve done a lot of deals it’s my hometown market I don’t
live there anymore but I do a lot of deals still there and what happened was
is I’ve got this contract for $25,000 on this on this little brick house in Oak
Park and what happened was is that it was a landlord that owned this property
they’ve been renting it out they don’t it for years and years and years and the
owner of the property got sick they had an illness they were dealing with the
property goes vacant and it needs all this work done on it to get it ready to
rent again and she was just done burned out wanted out so I came in and I said
not a problem I’ll buy the property we did a contract
for $25,000 now I turned around I knew some
investors in that area I knew this house fixed up was worth like 120 120 thousand
I went to a couple of the investors that I knew and I said hey I’ve got this deal
I got a lot going on right now I’ll just wholesale it to you and you
can take it and you can fix it up and flip it or rent it or whatever you want
to do and they said great I’m interested I wanted I know that area I’m looking
for a deal right now I said okay the number is fifty seven
thousand dollars fifty seven thousand dollars all wholesale it to you mr.
investor for fifty seven thousand dollars meaning I would make a thirty
two thousand dollar wholesale fee right I got it for 25 I’m flipping it to them
for fifty seven now that’s a huge wholesale fee and I said to this
investor I said listen I got a straight up cuz he said yes I’ll do 57
that’s great and then he’s gonna put you know 25 into it and sell it for 115 or
whatever so there’s room for him to make money too so I said to him I said listen
here’s the deal I’ve got the contract on this property for twenty five thousand
you’re agreeing right now that you’ll pay fifty seven thousand that means I’m
gonna make a thirty two thousand dollar wholesale fee and I want to know right
now that you this isn’t going to be a problem for you when we get to closing
and you find out I’m making thirty two thousand dollars because if it’s a
problem then I have other investors that will gladly pay fifty seven right now
today and I don’t want to mess around so are you okay with that I don’t want any
problems I want to be right up front with you that I’m making thirty two
thousand dollars on this deal and he said Jerry I get it you’ve got a
great deal no problem I’m fine that you’re making thirty two thousand
dollars I want it I’ll pay fifty seven that works for me we went to the closing
I got a check for thirty two thousand dollars didn’t do anything I didn’t fund
it and bring any money to the deal I didn’t fix anything up I didn’t have to
manage contractors and do rehabbing I didn’t have to do any of that I have to
do marketing and sales to find a buyer none of it because I had systems in
place to find the deal like that I structured a deal with the seller for
twenty five and with my new buyer for fifty seven using a couple pieces of
paperwork this is just a purchase and sale agreement this is an assignment
agreement okay two documents and I flipped it and made thirty two thousand
dollars now do you always make thirty two thousand dollars no I wish that
would be awesome but listen you live for those days right
you do a lot of threes and fives and in sevens and maybe some tens and now and
then you get some good ones like this right but if you’re in the game then
deals like this will start to happen they’ll come your way but you got to get
in the game you got to get started this is the three main steps to wholesaling
houses and I’ll tell you what I’d like to help you get started I’d like to help
you get your first check or your next check if you’re already doing this I’m
looking for deals I’m this guy right here will in the pay for deals because
I’ve got systems in place I flip houses all across the country it doesn’t matter
any of the 50 states I’m after the deal so as long as the deal meets my criteria
I don’t care where it is I’ll buy it what’s that mean for you it means for
you right now watching this I don’t care if you’re in you know Kansas Mississippi
Missouri Arizona I don’t care where you’re at if you find
a deal that meets my criteria I’ll pay you ten thousand dollars for that deal
so here’s how you got to do here’s what you got to do to get started if you want
to submit deals to me get paid ten thousand dollars I’ll teach you how to
find them I’ll teach you how to structure them I’ll train you I’ll give
you the paperwork I’ll give you tools for finding deals I’ll give you all of
that so that you can go out find deals bring them to me you can get started
making money in this business I’ll pay you ten thousand dollars every
deal you don’t have to worry about funding you have to worry about managing
marketing and sales any of those things I’ll do that on my end I’ll pay you ten
thousand right up front so as soon as we as soon as you bring the deal to me and
we go to the closing I’ll pay you ten thousand and then I’ll do the rest and
you’re out and you get to go do another deal okay super exciting love this
business looking for more deals this is how you and I can work together and it’s
how we can have a win-win because gets me more deals and it gets you $10,000
checks so that you’re making money – all right so click the link in the
description that’s how you can learn how to get started it’s going to take you to
a web class I’m doing where I’m going to talk all about this how to get started
how to do it so click on that link in the description and I’ll see you on that
web training and thanks again for watching this video and I hope you’re
excited to get started wholesaling

10 thoughts on “How to Wholesale Real Estate

  1. Leave a comment and let me know what topics you'd like me to discuss…

  2. Hey Jerry would I be targeting houses with no mortgage or houses with high equity , or ??

  3. Hey Jerry I would love you to mentor me

  4. Can you discuss how should you prepare as a teenager eg 14-18

  5. How do you find investors to buy the contract from you.

  6. Jerry are going to provide all the paperwork needed?

  7. Hi, really interested in wholesaling homes but the one thing NO ONE talks about…what exactly is stopping cash buyers from seeing homes found by wholesalers and giving the owners a better offer? Completly cutting out the wholesaler? I get it.. It's under contract, but eventually there won't be a contract anymore. So are wholesalers smarter than cash buyers or what?

  8. Hi Jerry question? Do you have to let them know you getting this much money on the deal?

  9. What if worst case scenario you can't find a buyer in time, is there a way to cancel a contract?

  10. You could do a video… on how you talk to investors when making big fees.

    Investor agreed "verbally"…he has no problem w you making 32k. Question: Would you also get that in writing….to make it a bit more formal?

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