The Key to Profitably Wholesaling Houses Full Time
If there is one key to profitably wholesaling houses full time, what is it?
Many would argue there is no need to turn real estate investing into a full time gig but many can’t help themselves from being drawn to it. So if it’s for you, then what’s the secret to really making a killing from it the easy way?
Why Wholesale Houses Full Time?
Certainly wholesalers never need to put in a full work week to make a decent living from real estate. In fact, many do great with a 4 hour work week, whether on the side to augment their salary and get ahead or because that’s all they need and they enjoy pursuing other activities the rest of the time.
Once started, many find their passion for real estate consuming and could never dream of doing anything else. They live and breathe investing for their love of it as an art, the thrill of closing the deal and the challenge of reaching their full potential in life and smashing through their goals.
According to RealtyTrac, the average flip in the first half of 2012 grossed a $29,000 profit, with some areas like Miami turning in as much as $61,000 per deal. That’s plenty to quickly build up a nice nest egg or pay for those extra toys or even tell the boss what they are thought of, for many and most can turn 4 houses a month part time.
Those who are really ambitious and who want to go all out have turned that into 10, 20 or 30 a month, for some pretty serious incomes and firmly joining the 1%.
What It Takes to Build a Big Money Real Estate Wholesaling Business
To go from dabbling to daring investor racing towards joining Forbes’ next richest list requires a little different approach than part timers can get away with.
Specifically it means:
· Treating real estate investing as a real business
· Learning to delegate and employing the help of others
· Getting an advanced level of real estate investing education
· Great time management
· A scalable system
Investors also need to watch that they aren’t ramping up volume at the expense of making good investment picks. You don’t want to do more work for less money, right?
The Key to High Volume Profitability
The truth is that there are lots of ways to market for deals and promote yourself and build a real business, but it’s often easiest when generating referrals and repeat business.
This not only beats the time demands of constantly chasing new customers so that investors can focus on making real dollars and get the maximum ROI on their time, but business is cheaper, easier to close, more profitable and faster when buyers are already lined up.
The key to achieving this is doing good business and building a reputation for good deals. Don’t give overly optimistic numbers when promoting deals, so that when you email a deal recipients know it really is one and can move on it quick.
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