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ACIS Episode 11: Wholesaling 101
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Summary
In this episode, Jason Lee and Aaron Bihl discuss the concept of wholesaling in real estate. They define wholesaling as the process of buying a property at a lower price and selling the contract to someone else at a higher price, making a profit in between. They address the negative perceptions surrounding wholesaling and emphasize the value that wholesalers bring to the industry. They highlight the importance of trust, ethics, and providing value to both sellers and investors. They also discuss the types of sellers who are likely to work with wholesalers, such as those facing foreclosure or dealing with inherited properties. Additionally, they explain why investors and flippers choose to work with wholesalers instead of sourcing deals themselves.
Takeaways
- Wholesaling in real estate involves buying a property at a lower price and selling the contract to someone else at a higher price, making a profit in between.
- Wholesalers provide value by sourcing deals, negotiating, and offering convenience to sellers who are in distress or facing challenging situations.
- Investors and flippers choose to work with wholesalers because it allows them to focus on their specific strategies, be more selective in their purchases, and save time and resources.
- Trust, ethics, and providing value are crucial in the wholesaling industry to build long-term relationships with buyers and sellers.
- Wholesalers should have experience, a good reputation, and a thorough understanding of the market to offer reliable deals and advice to investors.
Titles
- Understanding Wholesaling in Real Estate
- Why Sellers Choose to Work with Wholesalers
Sound Bites
- "Wholesaling essentially involves buying something at a lower price and selling that contract to someone else for a higher price, making money in between."
- "Wholesalers are the middlemen who contract a house and assign that contract to a buyer, without actually owning the property."
- "Wholesalers provide convenience to sellers who want to sell their houses quickly and without the hassle of repairs or cleaning."
Chapters
00:00Introduction and Tradition of Rock, Paper, Scissors
01:31Defining Wholesaling in Real Estate
07:01Why Sellers Choose to Work with Wholesalers
09:53Why Investors and Flippers Choose to Work with Wholesalers
32:17Working with Experienced and Ethical Wholesalers
37:17Conclusion and Call to Action
14 episodi
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