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In this video I share a secret to investing in real estate with little money, wholesaling. Visit www.marissagentry.com for more information.
First, you have to do is find a homeowner who is interested in selling their property,land or building (aka for sale by owner) that is in disrepair or has not been updated in awhile. Preferably, you are looking for sellers who have not listed with a real estate agent. Next, do your analysis of the real estate you want to purchase to see how much repairs could potentially cost. When estimating renovation costs you want to see what other investors have done in the same real estate market with comparable properties to have an idea of what the current trend is, also known as investor property. This will also give you an idea of how much the real estate will sell for after all of the repairs are done, known as the after repair value (ARV). Then you figure out what fair offer you can give to the seller for their property.
Wholesaling will cost you less upfront money. Some people find deals/sellers online, go door-knocking in neighborhoods, you can buy a list to market to, go driving for dollars (driving for data), cold calling, etc. You have little invested into it and you make profit off your hard work as the real estate closes. Please be mindful patience is the only way you will get to your deals. You will go through a lot of people saying not accepting your offer before you get a contract.
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