40+ Questions To Answer Before Wholesaling Real Estate
Wholesaling real estate is a short-term business tactic often used by investors looking to make consistent and quick income in the housing market. In a wholesale real estate deal, the wholesaler agrees to purchase a home from a seller for a small earnest deposit. The wholesale contract details the amount the wholesaler is expected to sell their property and the required period for the sale to take place. After that contract is in effect, the wholesaler (the “Assigner”) is then free to find an interested investor and reassign the contract to them (the “Assignee” for an agreed-upon higher price than when they purchased the home. Wholesaling fees, which can vary greatly in amounts, all go to the Assigner upon the Assignee’s successful closing of the transaction.
In this guide, CT Homes will explore some of the most relevant questions wholesalers should ask throughout a real estate transaction. With CT Homes’ help, getting homes sold is simpler than ever!
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40+ Questions to Ask Real Estate Wholesalers
Wholesaling houses continues to be incredibly popular, thanks to its reputation for low risk, big rewards, and low barrier to entry. Still, it is only smart to create a plan and learn as much as you can about how it works before getting started. A wholesaling deal shouldn’t be rushed. In a perfect situation the seller, wholesaler, and future owners all benefit. If you’re interested in wholesaling, make sure to gather all critical information before signing any contracts.
Having said that, here are 45 important questions to ask and get answered before rushing ahead with wholesaling real estate:
- How much real estate education do I need to get started?
- Where can I get a quality and up-to-date wholesaling course?
- Will I want to take advantage of real estate/business coaching too?
- How can I get to know my local real estate market better?
- What’s the best way to research the local competition and potential allies?
- How do I find out about local zoning laws?
- Do I need business cards, and what should they look like?
- How can I build credibility in the real estate industry quickly?
- What’s the best way to build a real estate website?
- How do I build a Facebook page for my property wholesaling business?
- How do I choose the best name for my real estate business?
- What are the best phone numbers for real estate wholesalers to use?
- What are the best practices for having a new logo designed?
- What are my state’s foreclosure processes?
- How do I buy houses that are in foreclosure?
- How do I find homes that are in foreclosure?
- Where can I get the best list for direct mail?
- How many times should I mail prospects?
- What makes a great direct mail piece?
- What’s the best way to handle inbound responses from direct mail?
- How can wholesale deals be found on the MLS (Multiple Listing Service)?
- Which parts of wholesaling houses should be outsourced?
- Can I find properties to buy on Craigslist?
- What makes the best Craigslist ads for buying and selling real estate?
- What questions should be asked when purchasing internet leads?
- How do Facebook ads work for wholesaling houses?
- What outdoor advertising techniques should be considered for marketing?
- How do I use the 3 different methods of valuing real estate?
- What information and tools are there for evaluating deal value?
- Which properties are worth visiting?
- How do investors accurately estimate repairs for a property?
- What are the 10 Steps in successfully negotiating a property purchase?
- Which contracts should be used for making offers?
- Where can the money be found for wholesaling properties?
- Where can private mortgage lenders be found?
- When should transactional and hard money lenders be used?
- What type of software should be used to build buyer lists?
- Who are the important professionals to network with?
- What information should be included in a Wholesaling Deal Marketing Package?
- How can profits be made by selling a contract?
- How do double closings work (legally)?
- How do real estate closings work?
- What team members and advisors are wise to have?
- What is the best strategy for growing a wholesaling business?
- What will be done with all of the money and wealth generated from wholesaling?
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This may seem like a lot of questions to ask a wholesaling representative, but by gathering this critical information, sellers can rest easy about their wholesale transactions. Even better, more information about wholesaling can be found in one convenient resource, along with much more information to help aspiring real estate investors get on the fast track to wholesaling success. You’ll find it all in The Real Estate Wholesaling Bible!
If you’re selling your home and are having a tough time finding a buyer, look no further than CT Homes for help! We provide cash as-if buyers to expedite the real estate transaction so that you can sell your home and pursue all your real estate goals. Contact CT Homes today to learn more!