Wholesaling Houses TipsAuthor: Terry Wygal
Wholesaling houses, just like any other success stories, needs some things to be done in perfection. Whatever wholesaling houses strategies and wholesaling houses techniques you have read or heard, there is one thing that you should not forget - all of them are based on simple principles that make up for a successful house wholesaling.
If getting the best house in town is surely a big step, if not big steps, ahead of your competitors, then a nice place with an owner that is very willing to sell (aka motivated sellesr) is a very big edge. Motivated sellers are people who wanted to have their houses sold ASAP and would not worry too much about the tag that you place on their house. Of course, they would not sell it for free but they would not also charge it a king\'s ransom. These motivated sellers are just the people you need to be able to buy cheap, sell cheap and gain profit. Knowing where to find motivated sellers is like finding a good bargain shop for stuffs that you intend to sell.
One of the key things that you should remember about wholesaling is that you choose it over flipping because you intend to make money out of a house that you do not have to spend on anything for maintenance or other fees (such as taxes). Thus, if you intend to gain profit and see it as a very considerable amount considering the investment that you made on it, you should be able to sell the house as soon as you bought it. This is where having a buyer's list comes in handy, because with a buyer's list you will be able to save time looking for prospect buyers instead of still having to look for them after you buy the house.
How you negotiate how much you should buy the house and what you decide on how much you should sell the house is obviously a very big factor in determining whether or not you made profit. Pricing would require a lot of experience or a whole lot of research if you have no experience to rely on. One thing that will help you though would be to know the pricing trend of the kinds of houses that you are selling and the buying trend of the house-buying market.
Having a buyers list is very important because this where you can base who you should sell the house that you bought and how much they are would be willing to pay. Aside from this, the buyers list will also dictate what kind of houses are in trend and what people are buying, thus giving you and idea when you are selecting a house.
These are but the basic things that you need to consider when you are trying to wholesale house. Making sure that you have all these four in line and included in any wholesaling venture you do would assure you of a higher possibility of success rates in your wholesales.
About the Author:
Terry Wygal also known as The Quick House Buyer, has been teaching real estate investors how to wholesale and flip houses for several years now. Terry also teaches real estate investors how put your website on the front page of google and crush your competition.
Article Source: http://www.articlesbase.com/entrepreneurship-articles/wholesaling-houses-tips-948062.html