There’s a lot of talk, on this show and on other real estate podcasts, about wholesaling. Mark Ferguson was a licensed real estate agent and didn’t even understand the term for a long time. In this episode Mark’s going to walk through the step by step explanation of what it means to be a wholesaler, how wholesaling works, and how you can take initial steps to get involved in real estate investing through what could be the simplest way: wholesaling. It’s all in this solo show, with Mark Ferguson.

It all begins with a contract. In most states anyone can put a contract on a house, which is a document that states your intention to buy the property. Once your contract is accepted, nobody else can buy that property unless you withdraw your contract. The contract will state a certain number of days you have to get your cash or financing together to consummate the purchase of the property. But as a wholesaler, you’re not going to finance the property, you’re going to bring a cash buyer into the deal to purchase it from you right away. Find out the details of how that works on this episode of Invest Four More with Mark Ferguson.

As you might imagine, most wholesale deals don’t come from the MLS. Why? Because anyone can find deals on the MLS, so there’s no need for a wholesaler to be involved. That means wholesalers have to find other sources of discounted or distressed properties. In this episode of Invest Four More, Mark Ferguson walks through the main ways wholesalers find properties and explains how each of them works. He’ll cover direct marketing, websites, driving for dollars, and other tactics to locate and purchase properties. It’s a basic explanation of the fundamentals that any beginning wholesaler will want to hear.

How do you do that? This is perhaps the most important yet difficult part of the wholesaling process. The key to it is to build up what is called a “buyers list” over time, so you have a group of interested, active real estate investors to contact any time you get a property under contract that meets their specific criteria. That way you can simply send out an email or make a few phone calls and have strong buyers interested right away. How do you build that list? You have to start by getting to know those investors, and Mark Ferguson has some tips for how you can do that on this episode of Invest Four More.

There are lots of ways to invest in real estate, but wholesaling could be the simplest, easiest way for a handful of reasons. First of all, it takes the least amount of experience and is an area where you can learn as you go. Taking one step at a time and researching and learning as you move to the next phase is entirely possible. In addition, wholesaling requires the least amount of your money up front, so you can get started finding and putting contracts on possible properties without a lot of overhead. Mark Ferguson covers most of the basics about getting started in Real Estate Wholesaling in this episode of Invest Four More, so be sure you give it a listen.

[1:00] Welcome from Mark and an introduction to the topic of Wholesaling

[2:11] What IS wholesaling?

[2:58] Why would a person want to become a wholesaler?

[3:25] Getting started with wholesaling is easier than most real estate positions.

[4:50] Be aware of the laws in your state regarding wholesaling.

[6:11] How a wholesaler starts a deal - the contract.

[7:46] Why would an investor buy a property from a wholesaler?

[8:22] Things to watch out for when wholesaling.

[8:50] The second way wholesalers will get houses and do deals.

[11:01] Wholesalers who use their own money.

[12:01] What is wholetailing? (a new term that has popped up)

[13:20] How do wholesalers find great deals?

[16:07] How do wholesalers use direct marketing to find properties?

[18:27] Realtors must have a disclosure about their own potential for making property through buying below market value.

[19:25] Finding sellers is where a wholesaler has to spend money.

[21:12] A great company to do your direct marketing for you.

[21:38] What is a bandit sign?

[22:35] Billboards: Do they work for finding properties?

[22:00] Websites can be a great way to find properties.

[23:26] Driving for dollars is a great way to find properties for sale.

[24:46] How do wholesalers find buyers for their properties?

[26:00] Understanding margins in order to have investors actually buy your properties.

[26:50] Finding cash buyers via public records or the MLS.

[27:34] Marketing properties to cash buyers.

[28:05] Why wholesaling could be the best way to get started in real estate investing.

[30:35] Summary: the keys to becoming a great wholesaler

[31:00] Why cash buyers instead of financing?

[32:09] Mark’s great tools to help you get started wholesaling -

www.YellowLetters.com - use the promo code InvestFourMore

Danny Johnson’s website - http://www.leadpropeller.com

Contact Mark for a $100 discount on all his programs - [email protected]

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