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The Truth Behind Wholesaling Houses
by Carrie Dawson on Nov 12, 2009
Wholesaling houses is simply acquiring acontract on a piece of real estate and then you sell or assign that contract toanother investor who then closes on the transaction. In this case, a wholesaler is not actually buyingthe house itself. He or she just gets the contract and presents it to a buyerwho would buy the house. Basically, a wholesaler acts as a “middleman” betweenthe owner of the house and the buyer. And along the course, he or she profitsfrom it. Although it may seem a pretty safearrangement, do not think of buying a lot of contracts and then sell themquickly. Having too many houses on your books may leave you stuck with them inthe end. Plus, it yields a very small amount of profit. The best way to do itis one house at a time. Real estate investors turn to wholesalinghouses for several reasons. One is that it is a way to get quick and easymoney. Some may think that turning a house in to cash for 7 to 45 days is notpossible, but with...Read More >>
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