The Epitome Of Wholesaling
Hi all, newbie here....
I recently went to a seminar for a company called realpro. I think they are only in FL, but not sure. Anyway, they took us out on a bus and showed us some of their properties that were available for investors. They have sister companies that do hard money lending and title work, and basically keep everything in-house.
It took me a little research to figure out that they were actually wholesaling these properties. They buy them on long contracts I think in pre-forclosure or even on the courthouse steps, then never close or take ownership. They then turn around, show them to investors (at an unknown markup), and show how much the property CAN sell for, as well as show us how to estimate repairs.
I'm still trying to wrap my noodle around the concept, but is this wholesaling? It seems very appealing, but again, wanted to check with the more experienced ones here first. I'm in Miami, and this place is already overrun with professional investors that gobble up everything at the courthouse steps, so I don't think I even have a chance on that end, unless I can find a down-on-their-luck seller on my own. Would this company be a good vehicle to get a few flips under my belt?
Any input would be greatly appreciated. You guys already saved me from the RA mentor hooey, so I definitely value your combined experiences.
Thanks!
wholesaling can mean different things to different people, I would consider that wholesaling.
What they do from what you are saying is "offer to buy a package of properties and assign them" that is a form of wholesaling in my area. There are a lot of different ways to do things in this business. You need to find one that best suits you.
You must consider the time, effort, and committment each form requires and proceed from there.
Good luck
Lori
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