From the course: 43 Ideas for Starting a Side Business

Wholesale a real estate deal

From the course: 43 Ideas for Starting a Side Business

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Wholesale a real estate deal

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- A really interesting opportunity many people don't know about is what's called wholesaling real estate. Wholesaling real estate means you find someone with a property that they want to sell, you put it under contract, and then you sell your deal to an investor. To get started, you start looking for properties that are for sale by owner. If you find a good deal, you make an offer. If it's accepted, you can sell that deal to an investor. While you're keeping your eye out for properties, start networking with realtors and real estate investors in your area, and collecting investor contacts. Then when you have a great property under contract, you'll have a list of potential investors ready to take the deal, and pay you a hefty cut for finding that deal in the first place. If you can't sell your contract to an investor, then you'll simply pull out of the deal before you pass the point where you'd lose your earnest money, and you move on to the next deal. The money from wholesaling can be fantastic, anywhere from five to $10,000 per deal. Some people do this full time and only have to land one deal per month. If you're nervous about getting started with more knowledge, I'd recommend a coaching course or a system, like the one Alex Martinez offers at Pro Wholesaler.

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