PLease Explain Wholesaling

Hello can someone please breakdown what wholesaling is and if its worth doing or if its legal?
THanks in advance. confused

Comments(5)

  • jeff120023rd September, 2003

    Yes, it is legal, and can be worthwhile!

    Wholesaling essentially is finding a property that is usually in need of help of some kind, (This help could be repairs etc.) and selling that property to another investor (Wholesale) for a small profit, let them handle the rehab, marketing, etc. to the end (Retail) customer. As opposed to doing the rehab and retail sale yourself. Your profit generally is smaller than if you took care of the issues yourself, and Retailed it, but you're not doing all of that work either.
    Good luck,
    Jeff

  • td4th September, 2003

    Jeff12002,
    Great post!! That is exactly the way I would explain it. Thanks for the insight.

    Prosperous investing,
    td

  • MakoInvestments4th September, 2003

    If you've got the cash to pull off another good deal, but not the time to do the work because your crew is tied up, this is a great way to make a quick $10K-15K, sometimes more.

    REALTORS associated with me/my office expose their fangs and jump on these deals when I offer them up. They always have their own investors in their pockets, you get them to sign an as-is addendum, and sell that sucker without driving one nail. By buddy Jorge just popped one off this year for $40K profit, NOT ONE NAIL DRIVEN! Didn't even have to put up a sign. -MakoShark

  • tvarookieinvestor6th September, 2003

    Thanks for the response. That cleared it up for me. I look forward to my first wholesale deal.

    Thanks
    TVA

  • NancyChadwick25th October, 2003

    I'd define wholesaling as selling to anyone who is not the end user.

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