Real Estate Investing - Make Money in Real Estate With Little Or No Money
It's a contemporary notion that in order to succeed in the real estate business, you must have a lot of money.
The concept is only partially true.
Money can be made in the real estate market with having to invest lots of it.
You might conclude that if money is not that essential, maybe you need to have a handsome financing facility or suitable asset to use as collateral.
Again, I will tell you that even those are not necessary for starting your real estate business.
What I am about to tell you is not a short cut to riches.
Infact, you can make a career out of it.
The concept that I am talking about is called wholesaling.
In order to become a wholesaler you do not need to have lots of cash.
Infact, you don't need to have a good credit rating either.
What is wholesaling? Wholesaling means finding a seller who is willing to sell his property for a slightly lesser amount than its current market value.
The next part is to find buyers for the same property and sell it at a good price.
The key to success in this field is the wholesaler's communication skills and his ability to market his property aggressively.
If you have the necessary skills, you can become a successful wholesaler and make a few grand on every sale with no down money of your own..
Wholesaling needs a few skills.
Some of them are listed below.
Finding and locating good property The most effective way of finding a good property is to drive around the neighborhood and keep your eyes open.
You can also scan internet listing sites or the classified sections but the actual survey of a location and on-the-ground inspection of proposed sites is way better than browsing locations on the net.
Ever heard the saying: birds of a feather fly together? In order to get into the real estate game you should surround yourself with people who are already into this business.
If you are moving in a circle of real estate investors and agents there is a strong possibility that you will get to know about possible investment venues is by the word of mouth.
Tune up your interpersonal skills What a wholesaler actually does it to persuade a seller to sell his property to him.
This needs cutting edge inter-personal skills since it takes a lot of convincing to make someone sell his property to you at a discount.
Actually this is the real job of the wholesaler.
The genius to sell You can buy all the properties at your desired price but if you don't have buyers for those properties the sum total of all your efforts will be zero.
In order to get potential buyers to contact you, get your property advertised in the classified ads.
Also spread the message around within your circle that you have great properties for sale.
You are sure to get calls from potential buyers.
Keep record of all such buyers since you will need them for your next assignment.
It is better to establish working relationship with these customers so that whenever you come across a great property you have a ready -made pool of buyers to choose from.
It is essential that every one in your circle knows that you are in the real estate business.
When will you start making money? I wrote earlier in the article t that this is not a quick-rich short-cut.
The process will take time and patience.
In the initial stages you may encounter some difficulties but with consistence and perseverance, you will acquire the essential skills for this business.
The concept is only partially true.
Money can be made in the real estate market with having to invest lots of it.
You might conclude that if money is not that essential, maybe you need to have a handsome financing facility or suitable asset to use as collateral.
Again, I will tell you that even those are not necessary for starting your real estate business.
What I am about to tell you is not a short cut to riches.
Infact, you can make a career out of it.
The concept that I am talking about is called wholesaling.
In order to become a wholesaler you do not need to have lots of cash.
Infact, you don't need to have a good credit rating either.
What is wholesaling? Wholesaling means finding a seller who is willing to sell his property for a slightly lesser amount than its current market value.
The next part is to find buyers for the same property and sell it at a good price.
The key to success in this field is the wholesaler's communication skills and his ability to market his property aggressively.
If you have the necessary skills, you can become a successful wholesaler and make a few grand on every sale with no down money of your own..
Wholesaling needs a few skills.
Some of them are listed below.
Finding and locating good property The most effective way of finding a good property is to drive around the neighborhood and keep your eyes open.
You can also scan internet listing sites or the classified sections but the actual survey of a location and on-the-ground inspection of proposed sites is way better than browsing locations on the net.
Ever heard the saying: birds of a feather fly together? In order to get into the real estate game you should surround yourself with people who are already into this business.
If you are moving in a circle of real estate investors and agents there is a strong possibility that you will get to know about possible investment venues is by the word of mouth.
Tune up your interpersonal skills What a wholesaler actually does it to persuade a seller to sell his property to him.
This needs cutting edge inter-personal skills since it takes a lot of convincing to make someone sell his property to you at a discount.
Actually this is the real job of the wholesaler.
The genius to sell You can buy all the properties at your desired price but if you don't have buyers for those properties the sum total of all your efforts will be zero.
In order to get potential buyers to contact you, get your property advertised in the classified ads.
Also spread the message around within your circle that you have great properties for sale.
You are sure to get calls from potential buyers.
Keep record of all such buyers since you will need them for your next assignment.
It is better to establish working relationship with these customers so that whenever you come across a great property you have a ready -made pool of buyers to choose from.
It is essential that every one in your circle knows that you are in the real estate business.
When will you start making money? I wrote earlier in the article t that this is not a quick-rich short-cut.
The process will take time and patience.
In the initial stages you may encounter some difficulties but with consistence and perseverance, you will acquire the essential skills for this business.