Real estate wholesaling is a great way to make cash quickly and easily. In fact, virtual wholesaling, allows you to use the power of the internet to generate quick cash in as little as seven days. Following, we will give you a step by step breakdown, on how you can make $7,000 in 7 days.
Find a deal online and put under contract or option.
You can find deals in many locations, including Ebay. You can also do a search for investment properties or rehab properties. Those are great search terms. Some other specific websites that you can visit are [http://www.hud.org], http://www.southernreo.com, http://www.ocwen.com, http://www.lendersreo.com, http://www.countrywide.com and [http://www.propertydisposal.gov]. Ideally, you should be able to find pictures, price, contact and other pertinent information on the website. Remember, you are doing this virtually, so you should not have to leave your home.
The seller should have their contact information listed with the property. Give them a quick call, send them an e-mail or both, to do what you can to lock the property down. One of the virtues of wholesaling properties virtually, is that the deals DO NOT have to be in your hometown. If they are, that is fine, but you are not confined to any geographic location. You can literally search across the states, until you find the deal for you.
Assess the deal.
Basically, you want to make sure that the numbers make sense and that this is really a good deal. To do this, you want to compare recent sales in the area, with the deal that you are looking at. Be sure to take into account any repairs (if any) that need to be completed. You also want to compare deals that are the same construction and configuration. For example, if your deal is a three bedroom brick house with 2 baths, it would be a good idea to compare those types of sales. There are two online resources that you can use to make these comparisions and assess your deal. They are [http://www.virtualinvestorcomps.com] and http://www.zillow.com.
Post the property.
This will allow other investors to know about the deal that you have. Two good websites for this are http://www.craigslist.org and http://www.backpage.com. If you already have an e-mail list of buyers, you should send the deal out to your list right away. You can also do another on-line search to see where you can post your deal.
Kim and Charles Petty, experts in Real Estate Market. For FREE Special Report and CD and to set up strategy session on how you can make Six or Seven Figures A Year Buying and Selling Properties across the USA & abroad go to VirtualRealEstateInvestingPRofits or call 1-800-311-9228.
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Article Submitted On: May 16, 2008
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