A basic, but very important question got asked of me:
“Tom, I don’t understand what you mean by ‘wholesaling’. How exactly is it that you make money doing this?”
An excellent question.
Let me explain the basics in a nutshell.
Here’s how it works:
1. I market for motivated sellers looking to sell their property.
2. I negotiate a great deal with these sellers.
3. I put the property legally under contract.
4. I then contact rehabbers that I know who are always looking for properties to fix up and resell. I tell them about the property I have under contract and ask if they are interested (at a higher price than I have it signed for).
5. I choose a solid buyer and give them an Assignment Contract. This contract basically states that they are taking over all my rights AND responsibilities in the contract. They get this privilege for a fee, which is my profit.
6. At settlement, the attorney does all the paperwork and the house transfers directly from my seller to my buyer, but I never own it or go on the chain of title.
7. The seller gets their money and the house is off their hands, the buyer gets a great deal to start renovating, and I go to the bank with a very healthy paycheck.
It’s win, Win, WIN!
This works because I am offering the property to my buyers at a price that they want to get it at anyway.
And I’ve made it easy for them, as I am serving up a great deal on a silver platter. They don’t have to market, negotiate, or deal with the seller at all, aside from signing the paperwork at the settlement.
I get to focus on the parts of the business I like to do (the Rapid Cash Generation parts: marketing, negotiation, and cashing checks!)
The parts I don’t like I can avoid (tenants, managing crews, risk, etc.)
You have to know what you are doing, you need the marketing materials and know-how, legal contracts, and forms to make it happen, and you need to know how to handle and navigate the issues that will always come up along the way.
That’s why you just can’t wing it or try to reverse engineer the things I tell you daily.
It just won’t work.
If you want to do it right, then it is like any other trade or profession — you need to get trained to do it right.
Then the sky will be the limit.
Lucky for you I train people to do exactly what I described.
And I provide all the necessary materials and knowledge to make it happen.
I even train you to handle the “unexpected” parts of the deals so that you don’t drop the ball when something “unexpected” pops up.
You’ll know what to do at each twist and turn with my tailor-made training.
It’ll push you and hold you accountable to actually get deals done.
Exactly what you need to succeed.
You can’t beat that.
You’ll learn it all at my 3-day Rapid Cash Generator Bootcamp.
It starts Friday.
Traction Real Estate Mentors