San Diego is fertile ground for all types of real estate investing, including wholesaling. It is San Diego’s real estate market that propelled successful real estate gurus like Seth O’Byrne or Than Merrill. Anyone with the drive can also find some success in San Diego as well, especially when focusing on wholesaling.
Wholesaling and Why it is Vital for Real Estate Investing Hopefuls
Most real estate experts believe that starting slow is the best option for a beginner. This is because–no matter how many books one has read–there is nothing like hands-on experience. One way to get hands-on experience is with wholesaling real estate because it allows the aspiring real estate investor to get his or her feet wet without taking huge risks.
Wholesaling real estate is when one becomes the middleman between a property seller and an investor. Both investors and property sellers are usually pressed for time, making it hard to find each other.
The wholesaling real estate representative becomes the mediator by finding a property seller, which he or she will later pair with an investor. It is the responsibility of the wholesaling real estate representative to form a contract with the seller that says he or she will find an investor within a predetermined time. This is a great way to see the nature of the business without getting in over one’s head too quickly.
The money is made by finding the investor and selling the property at a higher price than what the owner is selling it for. There is no need to put any money into the deal, but the wholesaling real estate representative does need to provide his or her own attorney to seal the deal. A title company that is own by the wholesaling real estate mediator is acceptable, too.
One great thing is that credit is not checked nor needed. It is not necessary–though suggested–that one has any education or experience in this line of work as long as the job is done.
A budding real estate investor will also get an opportunity to grow his or her list of both investors and sellers for later use. The list can be helpful later to find property as well as partners or investors who might want to take a chance with a wholesaling real estate representative taking a dive into investing ventures.
These are just some of the reasons why experts consider wholesaling real estate a vital step for anyone interested in real estate investing. Getting the opportunity to start without the risk of making a mistake that will be costly is a big plus for a beginner. Plus, the hopeful real estate investor will learn about real estate at his or her own pace. It is like getting paid to garner enough experience to venture off on his or her own, so what is there not to like.