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Wealthy Way
So You’re Unemployable, What Next?
Jan 18, 2024
Learn how to create a business if you're unemployable, specifically through flipping houses and wholesaling. Hear personal experiences and gain an understanding of the basics of wholesaling, finding motivated sellers, attracting buyers, and making a profit through assignment fees.
07:27
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Quick takeaways
- Starting a house-flipping business can be a viable option for the unemployable, involving buying, renovating, and selling properties for profit.
- Wholesaling is a profitable real estate strategy that allows for faster turnaround and substantial profits without major investments or waiting for retail buyers.
Deep dives
Flipping Houses: Starting a House-Flipping Business
If you're broke and unemployable, starting a house-flipping business can be a viable option. Flipping houses involves buying a property, renovating it, and then selling it for a profit. On the other hand, wholesaling, which is also a profitable venture, involves finding a property to buy under contract at a significantly lower price and assigning the rights to the contract to an end buyer. The assignment fee is the difference between the contracted price and the price the buyer is willing to pay. Wholesaling offers the advantage of faster turnaround and the potential to earn substantial profits without the need for significant investments or waiting for retail buyers.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode