Each week, we sit down with top real estate professionals, business executives and/or financial experts during our Real Estate Investing with a Purpose podcast. These professionals inspire us with their success stories, teach us incredible business strategies, and share their biggest life lessons.
The podcast is an incredible learning tool that offers real estate investment strategies that enable individuals to quit working and start living their dreams.
Real Estate Investing with a Purpose podcast is helping listeners generate wealth and free up your time. Afterward, entrepreneurs are able to use their wealth and freedom to make a difference in the world. The interviews are centered on individuals who believe in the “Do good and do well” concept. The podcast show is filled with laughter and entertainment, while teaching listeners how to become successful real estate investors.
Simple Wholesaling Podcast
Emmanuel Guarino is a realtor at N.B. Andrews & Associates and the sales and operations manager at Residential Assisted Living Academy. Together with his wife Bekah, they help clients buy and sell assisted living homes. Their family also owns and operates three care homes in Scottsdale and Phoenix. Emmanuel and his wife are leading experts in the field. They teach people the ins-and-outs of the residential assisted living business. During a recent podcast, they discussed the important concept of not putting all of your eggs in one basket and knowing your buyers.
In this previous show, listeners learned the following:
- What Emmanuel did before he got into real estate.
- How he got into real estate,
- How he got his first check,
- What they do,
- How they started their academy,
- Tips on residential assisted living,
- What they take into account when looking for a property,
- On having less competition in assisted living,
- What “do good” means in his business,
- Challenges people often experience, and
- How long it will take to get everything up and running in terms of residential assisted living facilities.
How Does Wholesaling Work In Real Estate?
In real estate, wholesaling serves as a versatile exit strategy that can suit several different investor personality types.
- For starters, the wholesale process is known to have one of the shortest completion timelines, compared to other investing strategies.
- When done correctly, an investor can receive their assignment fee in less than a month.
- Wholesaling can be a great fit for investors who prefer to make profits in the least amount of time possible.
- Investors get to have complete control over the volume of wholesale deals that they process over a given period of time.
- A great entry point for beginners who want to learn how to invest, but have no prior real estate knowledge.
In the process of delivering a wholesale deal from beginning to end, a beginner will become immersed in skills vital to any investing operation such as marketing, networking, minding due diligence, and coordinating a real estate transaction. Beginner investors who have limited access to capital or working to build their credit, can also participate in wholesaling. If you want to start making money in real estate quickly, it’s time to consider wholesaling. The wholesale process is different from more traditional types of real estate transactions. Closing a wholesale deal for the first time is a major accomplishment for any investor. Still sounds confusing? It won’t be after you consult with our seven-step beginner’s guide to closing a wholesale deal.
How To Wholesale Real Estate Step-by-step
Now that you understand the various benefits of becoming a wholesaler, you may be wondering exactly how the wholesaling process works. What kind of skills and resources are required to successfully complete your first deal? The following is a basic wholesaling real estate step-by-step guide that will help answer your questions:
- Mind Your Due Diligence:
The first step to any wholesale deal involves researching and strategizing. Spend time educating yourself on the overall process. A great place to start is by attending a real estate event in your area. Network with other investors.
2. Build A Buyers List:
A buyer’s list is essentially a category of potentially interested investors, entrepreneurs and homebuyers. A strong buyer’s list will make sure you always know where to go with deals.
3. Market To Motivated Sellers:
A motivated seller is any homeowner eager to get rid of their property. This situation can happen for a number of reasons: they could be behind on mortgage payments and hoping to move or maybe they recently inherited a property they aren’t sure what to do with. No matter the reason, motivated sellers are your best bet at getting a property under contract for a good price.
4. Get A Property Under Contract:
When you successfully acquire a motivated seller, come to an agreement on the correct price and terms for the property at hand. Make sure you are on the same page as you negotiate the contract, and include all information in the agreement.
5. Find Your End Buyer:
Your end goal at this stage will be to assign that contract to an interested buyer. If all goes to plan, it will be one from the list you created earlier in the process. Put together a list of comparable properties, estimate the potential cost of repairs and get a title report done. Then, start reaching out to potential buyers from your list.
6. Assign The Contract:
Be sure to agree upon your assignment fee and deposit amount, and include this information in your final agreement. Your final contract should simply state that you are assigning the contract for X amount of money.
7. Close The Deal And Cash Your Check:
On the day of closing, make sure your end buyer is present so they can sign the appropriate documents. They should arrive with the correct forms and payment to purchase the property, including your assignment fee. Once the title company accepts the payment, they will cut you a check for the amount of your fee. “Don’t try to do everything all at once. Pick one thing, get after it, become a master of it, go on to the next thing,” Emanuel Guarino said. “There’s a million ways to make a million dollars at the end of the day. What we need to find out though is what is our why. By following our wholesaling real estate step by step guide, you’re already miles ahead of most beginners.
Why Residential Assisted Living Works
With more than 10,000 people turning age 65 every day, seniors will need housing and assistance with activities of daily living. This business is a combination of real estate and assisted living. Accelerate your vision by reading our blogs describing why the fast track training is helping RAL business owners succeed.
There are three good reasons why RAL business owners, operators and investors will benefit from senior assisted living:
- Smaller homes are safer for the residents because they have less exposure to others than they would have in a “Big Box” Community. It’s safer for the caregivers also.
- Interest rates are low, which makes it easier to buy property and to fund your project.
- The demographic shift that is happening is unstoppable. The Silver Tsunami of Seniors is coming.
We know exactly what’s coming and when it will arrive. We truly are at the “Right Place At The Right Time”. While you’re at home taking precautions during this critical season, visit our site and learn how you can come out of this crisis thriving. Visit www.RALAcademy.com and learn how you can get ready for the next big investment opportunity of a lifetime.
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