If you’re a real estate investor, you’ve either wholesaled properties or heard about others doing it.
In real estate, what exactly is a “wholesale”? Here are the basics:
- a property is purchased at a deeply discounted price
- no repairs or rehabs are done to the property
- it is resold to an investor who plans to rehab it and sell again for their own profit
Let’s break this down:
To purchase a property at a deeply discounted price, expect it to be in bad condition. The properties that need a lot of repair and have been neglected for years are the ones that are typically sold for very low prices.
How do you find properties that can be wholesaled?
- Direct mail marketing gets sellers who call before they talk to anyone else. No competition deals are always the best.
- Marketing also lets sellers know before they call you that you’re not