10 Steps To Successful Wholesaling

Educate Yourself

Invest in your real estate education before investing in your real estate business. FreedomSoft, the new real estate investors software system, has a built in education feature that will take you through the wholesaling process step by step.

Direct Mail Marketing and Lists

Your real estate business will not work without motivated sellers calling you with deals and buyers calling you to buy your deals. There are many ways to market your business but the most effective methods are direct mail campaigns and websites. FreedomSoft is an innovative system that will manage your marketing so you can build your buyers and sellers list efficiently.

Network

Social media formats on the Internet such as LinkedIn and Facebook offer great networking opportunities. You should also join your local real estate investors association and real estate clubs where buyers and sellers meet to network.

Building Your Lists

You can’t operate a successful business effectively from a desk cluttered with business cards and sticky notes so you need to automate the buyers and sellers information you obtain through your marketing and networking. FreedomSoft has a buyers and sellers list manager that will provide instant buyers and sellers leads and send out automatic emails to them.

Find a Bargain Property

Find bargain properties at below market prices that may be vacant, distressed or have owners who are distressed due to financial or personal hardships. Flipping wholesale properties will be quicker and easier if you stay away from those that require major rehabs.

Negotiating Price

You will need to know what a property is worth before you can start to negotiate price. You want to buy wholesale bargains and sell them to bargain hunters. FreedomSoft will review your deal, giving the property’s value as well as other property values in that area.

Check the Title

Never purchase a property without checking the title. Most of the time you can get a clear title with the help of your motivated seller but a good title attorney can be a valuable asset.

Putting the Property Under Contract

When you find a deal and the seller agrees to your price, meet with the seller and have him sign a standard purchase and sale agreement and pay a small binder deposit. Set closing for 30 to 45 days in order to find an investor to purchase the contract. Contracts can be confusing and intimidating. By using the contractor generator in FreedomSoft, this task will become worry free.

Flip the Property

Now that you have the contract in hand from your motivated seller, you will simply market your property to the real estate investors in your buyers list. Once you have a buyer, you can use the same house-flipping contract and require earnest money to ensure your real estate investor is a serious buyer. Your real estate investor will pay closing costs and you will sign as the seller on this contract.

Let’s Close

The title is clear and you have set a time that works for the buyer and seller. You should close your deals with a real estate attorney or title company.

Now the best part of this is to collect your check. Go find another deal!

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Category: Real Estate