Wholesaling Real Estate | How to Wholesale | Investing In Real Estate | Wholesaling Flipping A Condo

Wholesaling Real Estate | How to Wholesale | Investing In Real Estate | Wholesaling Flipping A Condo

– Hey guys, how’s it going? So a lead came in today, and this came in off of our website. And it’s a lady, she’s got a condo. And ironically this condo
is about five or six blocks from where I live, so I figured I’d go check it out myself. And what’s even weirder
is that the same day that this lead came in on this condo, I got another deal from a wholesaler, pretty big wholesaler,
in the same building. And I’ve never gotten a lead
on that building before. So, two leads, pretty cheap. I’m gonna go check it out right now. So a lot of people ask me, hey how’s your average day look or what does it look like so in this case, I’m not
gonna be working tomorrow. Got to make a decision pretty quick. Got to sign a contract probably
in the next hour or two. So what I want to do is I want to just take a quick peek at this. I know the comps look good. I figure that I can buy this
probably for around $25,000 and I see comparable sales up
to around $60,000 or $65,000 so I know this is a good spread. But I still do want to take
a peek at it real quick, make sure there’s nothing
horribly wrong with it. And if everything looks
good, then I’m going to sign a contract and send that in. And the plan with this,
being that it’s a condo, I’m not gonna rehab it. I’m probably just going to close on it and then throw it back on the MLS, probably at a pretty low price, like maybe $39,900 or something like that, and flush out a buyer that way. I might actually end up selling
it to one of my students as a wholesale deal. Either way, if I bought it at $25,000 and flipped it at $39,900,
it took me about an hour let’s say, or not even, because this is so close to where I live, figure
probably 10 minutes there. There’s a lot of traffic now ’cause it’s towards the end of the day. But figure 10 minutes
there, maybe 20 minutes at the property, another 10 minutes back. Let’s be conservative
and figure an hour or so. If I bought it for $25,000
and sold it for $39,900 and I had to pay a realtor a 3% commission on forty grand, that’s not much. It’s like $1,200 hundred bucks. So, you know, if I netted
$12,000 on this deal, I would not be an unhappy camper, and it wouldn’t take very long. Landing this deal was generated once again by a lead that came in off of our website. And the other deal came
in from a wholesaler. So I’m going to basically
kill two birds with one stone. And I already know I’ve got one I’m trying to buy at $25,000. I’m going to try and go
and buy the other one at maybe $21,000 or $22,000, and then turn around and
flip both of them, alright. So if I could let’s say do
$10,000 on each of them, by the way that’s them
coming up over here. This is an area called Century
Village in Deerfield Beach. It’s a 55-plus community. So I’m going to be turning
around and going ahead and looking at them shortly, alright? So, figure if I could get those numbers, and I’m pretty sure I could
or pretty close to them, even if I bought it at $25,000
and flipped it at $35,000 and paid a realtor commission
with closing costs, if I netted $7,000 or $8,000
apiece and I did two of them, $15,000 for an hour drive,
not too shabby, right? Okay so I’ll go ahead and do a U-turn. I’m going to peer ahead
to look at the traffic. Lots of cars whizzing by so, this is just a day in the life of a wholesale real estate investor. I’ll catch you guys on the next video.

One thought on “Wholesaling Real Estate | How to Wholesale | Investing In Real Estate | Wholesaling Flipping A Condo

  1. Cool video 📹

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