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Are you aware-right now-there’s a major shift going on in business? Now I don’t just mean real estate, I’m talking about a HUGE transformation in how the world works, communicates, thinks and makes money. It all has to do with the Internet, and if you’re not currently using the Internet (the right way) to grow […]
One of the Biggest Mistake Beginner Wholesalers Make. THEY PAY TO MUCH!!!! Here are 3 ways to prevent that from happening. 1. Become a bird dog for a seasoned wholesaler. This will teach you how evaluate properties, learn the neighborhoods that are selling and you don’t have to risk any of you own money. In […]
I am in the process of buying my first home a condo. I found the Perfect condo in a prime area; however, the condo needs a little cosmetic rehab. since I am new to this…
Real Estate Investing Courses – Why Some Succeed While Others Fail? (Part 2)
By Eric Medemar
If you did not happen to catch part 1 of this article I will bring you up to speed. I am author of several highly successful real estate investing courses. I have always been curious as to what factors lead to some of my students using the information that I provide successfully, while others have no success at all. After interviewing many of my students I have compiled a list of the top factors that will determine your success or failure as a real estate investor.
The second most common reason that went into determining a students level of success was their ability to “Get up off their information and do something with it”, as I like to say. If you want to find success as a real estate investor you must take action. As strange as this might sound, information alone will not make you a penny.
Real Estate Investing Courses – Why Some Succeed While Others Fail?
By Eric Medemar
As an author of several highly successful real estate investing courses I have often been perplexed by the success of those using my course material. I have always had a very curious mind as to what leads some of my students to real estate investing success, while others do absolutely nothing with what they have learned. I decided to survey some of my most successful students and some of my unsuccessful students the results may surprise many of you, I know they surprised me.
One of the most powerful findings that I came across had to do with the initial intentions of the person purchasing the course. Why were they buying the course? The “Why” became one of the most important factors in determining whether or not my student would become a real estate success story, or just another sad statistic.
Wholesaling Real Estate – Finding Buyers (Part 1 of 3)
By Eric Medemar
Wholesaling real estate is one of the best ways to begin making money in real estate without the need for capital or credit. In part 1 of this series, I will start laying out some of the best ways that I have found to locate buyers for your potential wholesale deals. These strategies will also work for real estate bird dogging.
1. We Buy Houses Signs I call every single one of these signs that I see, I actually keep a note book full of numbers and info that I find out about these companies when I call.
I usually ask them whether they are still buying, what they are looking for, what percentage up FMV (fair market value) they are typically paying, and what areas of town they want to buy in.
While I have them on the phone I also ask them if they wholesale out any of their homes, if they do then I ask them to call me when they have something good. I tell them that if the deal is right I can close in less than 2 weeks with cash.(I can do this because I have other buyers already in place to buy their deals, sometimes these buyers could be other cash for your house buyers)
Here is a sample of a deal that I put together using this.
1. I called a we buy houses sign
2. Found out where they were looking
3. Put a home under contract for $52k in that area
4. Called them and let them know.
5. I signed a 6 month lease option with them for $64k
6. I closed the home.
7. The lease option started
8. He sold the home
9. We close this week, I make about $12,000 (I also made commission when I bought the house, because I am a realtor)
10. He makes around $12k.
11. Were all happy.
2. Call realtor’s I call realtor’s and find out if they have any cash buyers that are looking to buy some wholesale deals. It varies on what I offer to pay them but typically I offer 10%-20% of my profit, or a flat 2-3% fee, each time the buyer they have given me buys a home. It creates a win- win, I get a buyer and they get paid whenever their buyer buys a home.
I offer the continuous pay because a realtor’s worst fear is that they give you a buyer and he buys from you, then when they have a good property to show their buyers they