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Old 05-04-2018, 09:32 PM
 
1 posts, read 226 times
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How viable is wholesaling real estate and assigning contracts as an investment stratigy?
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Old 05-05-2018, 04:28 AM
 
Location: Cary, NC
31,603 posts, read 55,320,924 times
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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.
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Old 05-05-2018, 09:52 AM
 
Location: Salem, OR
13,743 posts, read 31,562,927 times
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Quote:
Originally Posted by Eljayes View Post
How viable is wholesaling real estate and assigning contracts as an investment stratigy?
It depends on your area. In my area, not at all.
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Old 05-05-2018, 09:53 AM
 
Location: Raleigh NC
7,759 posts, read 6,119,124 times
Reputation: 6883
you're looking for an ignorant populace of homeowners.
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Old 05-05-2018, 09:59 AM
 
Location: Rochester, WA
3,830 posts, read 2,053,214 times
Reputation: 10572
Color me naive, but I'm not even really sure what this means.
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Old 05-05-2018, 10:49 AM
 
Location: Raleigh NC
7,759 posts, read 6,119,124 times
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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
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Old 05-05-2018, 11:07 AM
 
Location: Salem, OR
13,743 posts, read 31,562,927 times
Reputation: 12105
Quote:
Originally Posted by Diana Holbrook View Post
Color me naive, but I'm not even really sure what this means.
It's an investor that gets a home under contract and then reassigns the contract to another investor for a fee.
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Old 05-05-2018, 09:23 PM
 
Location: Miami-Jax
5,787 posts, read 6,342,595 times
Reputation: 3118
Quote:
Originally Posted by Eljayes View Post
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 View Post
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.
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Old 05-06-2018, 04:25 PM
 
362 posts, read 204,345 times
Reputation: 629
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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