Collecting Keys - Real Estate Investing Podcast EP 56 – How to NOT get ripped off by a Real Estate Wholesaler
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Episode 56
Wholesaling has a mixed reputation among real estate professionals, with some viewing it as a low-risk way to get started as an investor and others likening it to posing as a real estate agent without a license.
Regardless of what your opinion is on this sometimes contentious topic, it often makes sense to buy from wholesalers and, if you do, there are a couple of things to keep in mind that we would like to share with you in this episode!
In today’s episode of Collecting Keys, we’re going all the way back to the very basics of wholesaling a property. What is wholesaling? How do you buy something from a wholesaler? What does the process look like from start to finish?
This is a great conversation for new and experienced investors alike, as it offers both a high-level overview of the wholesaling process and some deeper insight into how you can benefit if you keep your wits about you.
For more tips on how to ensure that you aren’t being ripped off by a wholesaler, or even, on the flip side, maintain your integrity and implement best business practices if you are one, don’t miss this educational episode with Dan and Mike!
Topics discussed in this episode:
- Updates from your hosts, disposition challenges the market is presenting, and more
- The value of aligning your properties with the right buyers
- The impact that wholesalers can have on sellers
- Why customer service on both the seller side and the buyer side is key
- How to avoid a reputation as a ‘scummy wholesaler’; don’t get greedy!
- Tips for keeping your buyers’ list strong for the long-term
- Back to basics: what is wholesaling?
- What wholesaling looks like from the buyer’s perspective
- The importance of knowing all the terms of the assignment contract
- Why we say: Don’t trust. Always verify.
- A step-by-step overview of the wholesaling process for newbie buyers
- How you can lean on your title company to do a lot of the dirty work
If you are interested in learning from Dan and Mike to receive coaching and learn how they built their business, check out instantinvestorprogram.com and see if you are a good fit for the mastermind group!
Resources Mentioned:
instagram.com/collectingkeyspodcast