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Status:
"Made the Retirement Run in under 12 parsecs!!!"
(set 5 days ago)
Location: Cary, NC
43,081 posts, read 76,631,641 times
Reputation: 45397
1. In a sellers' market with low inventory, not so viable. Finding a margin is tough.
2. Do NOT pay some repulsive bloodthirsty "Imma Gone Make You Rich In Real Estate" scammer thousands of dollars to learn to wholesale.
3. Do not put bandit signs on telephone poles, "We Buy Houses" and then try to cheat people like the scammers in #2 will charge you thousands of dollars to learn to do.
it's the "we buy ugly houses" where they agree to pay 60 cents on the dollar, set a closing date out 60 days, and then do everything they can to sell to someone else between 0.60 and 1.0 before they have to close
How viable is wholesaling real estate and assigning contracts as an investment stratigy?
First of all I would argue that wholesaling is not real estate investing. It is basically a self-employment job. Your clients will be the ones who are actually investing in real estate. Now to answer whether it is viable or not...it all depends. And I definitely agree with MJ:
Quote:
Originally Posted by MikeJaquish
1. In a sellers' market with low inventory, not so viable. Finding a margin is tough.
2. Do NOT pay some repulsive bloodthirsty "Imma Gone Make You Rich In Real Estate" scammer thousands of dollars to learn to wholesale.
3. Do not put bandit signs on telephone poles, "We Buy Houses" and then try to cheat people like the scammers in #2 will charge you thousands of dollars to learn to do.
Always seemed to me to be a mining profession. In other words it requires a vein of ignorance that you can mine and that will be exhausted at some point. I could envision where someone would pay a discounted amount so someone who needs to move quickly can sell their house quickly and be done and then the person buying it can resell it at a premium by being willing to wait, but that's not what wholesaling is.
I grew up in commercial real estate and it wasn't until i was in my late 20's that i knew what the term meant even hearing it a lot online. It seems like a job people get sold classes to learn rather than something someone actually can make a living doing long term.
I think flippers are a much more viable and honorable profession since they actually invest and take some risk and have a tangible product.
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