How to Make $100,000 in The Next 6 Months

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Wholesale Real Estate.

Yep, that is how I made 100k in less than six months within my first year of real estate investing.

Wholesaling is so appealing because it requires less capital upfront and can generate quick cash within your first 30 to 45 days.

Wholesaling real estate involves securing a contract with a seller and then immediately flipping the right to the contract to an end buyer for a fee. It’s a fantastic strategy for those looking to profit without wanting liability for the property as you would have in rentals or fix and flips.

Let’s get down to HOW.. 

To start making gains through wholesaling, follow these steps:

  1. Find Your Area: Location, Location, Location. This is the MOST important part. WHERE do you want to invest? You do this before the business entity. Why? Because what if you decide to invest outside of your state? You’ll need the business entity set up there.
  2. Set Up Your Business Entity: Establish a legal business structure to handle transactions professionally. Talking to a CPA can help you get this going quickly!
  3. Finding Cash Buyers in the Area: Cash buyers are a crucial part of your business. Figuring out what they are buying in your area will help you decide what properties to go after.
  4. Seller Leads: Not just any, but motivated seller leads. Who wants to sell NOW? We talk about this during our Wholesaling Workshops on the difference between who wants to sell now and how to find them VS who will sell eventually.
  5. Marketing to Sellers: Now it’s time to reach out to them. You need to come up with an acquisition strategy and also engage in conversations once they answer!
  6. Negotiations: Here is the fun part. Once a seller has said they are open to selling their home, you start to ask questions and negotiate a price with them. You then will go into a contract with the agreed-upon purchase price.
  7. Time for Pictures and Due Diligence: This is when I grab pictures and go through what I will need to do to get the property sold.
  8. Market to Your Cash Buyers: It’s time to find your end buyer!! You have a short contingency period to get someone in place who will work with you and purchase your rights to the property. You need to make sure your marketing price has your fee included.
  9. Contract with the Buyer: Once you find your end buyer, they will sign an agreement on your negotiated purchase price with them.
  10. Cash That Check! The best part, you will head to closing and money is to be made!

Innovative Techniques to Enhance Your Wholesaling Strategy

To truly excel in wholesaling and push towards that $100,00+ goals, here are some techniques I use:

  • Facebook Marketplace: I love social media. It really has helped exponentially grow my business! Use social platforms to list and sell your properties. It’s such a great and free way that really works out to help grow your business.
  • Driving for Dollars: I may be the Virtual Wholesaling Queen but this tactic is one of my top 3 ways of finding properties. 
  • CRM Systems: Implement a Customer Relationship Management system to keep track of leads, manage communications, and streamline the entire wholesaling process. I love Propstream and Podio.

Do you want to learn more about Wholesaling real estate? Join us at our upcoming Virtual Wholesale Workshop on May 21st at 8pm EST. Save your spot here: https://virtualwholesalingrealestate.eventbrite.com/

JOIN OUR FACEBOOK GROUP HERE!