The video provided a comprehensive, step-by-step guide to wholesale real estate, focusing on making it easy for beginners to get started and achieve their first deal in 21 days.
Key topics included an overview of wholesale real estate, selecting a market, generating leads, calculating offers, contracting, finding buyers, and closing deals.
Several free resources, tools, and further video trainings were referenced to support each step.
The process emphasized practical action, scalability, and treating wholesaling as a professional business.
Action Items
No date – Viewer: Register an entity, obtain a tax ID, and open a business bank account to formalize your real estate wholesaling business.
No date – Viewer: Choose a target geographic market with a population of at least 500,000.
No date – Viewer: Download and review the free 67+ motivated seller lead generation report from the provided link.
No date – Viewer: Use Propwire (joinpropwire.com) to search and download property and cash buyer leads.
No date – Viewer: Download and study free agent and cash buyer scripts from the provided resources.
No date – Viewer: Use the free offer calculator (freeoffercalculator.com) to determine maximum allowable offers.
No date – Viewer: Join local Facebook investor groups and post property deals.
No date – Viewer: Contact local title companies to confirm wholesaler-friendly procedures.
No date – Viewer: Review and use digital contracts (via Flipster or other platforms) for seller and assignment agreements.
No date – Viewer: Register for relevant free trainings linked throughout the video for further learning.
Introduction to Wholesale Real Estate
Wholesale real estate involves sourcing discounted properties, contracting to buy them, then selling the contract to cash buyers for a profit.
The wholesaler's profit is the difference between the contract price with the seller and what the cash buyer is willing to pay.
This business model allows for significant income potential with low startup costs and risk.
10-Step Wholesale Real Estate Process
1. Set Up Your Business
Register a business entity, obtain a tax ID, and open a business bank account for professionalism and tax benefits.
Reference to Prime Corporate Services for business setup support.
2. Choose and Learn Your Market
Select a market with a population of at least 500,000 for sufficient deal flow and buyer interest.
Virtual wholesaling is possible; proximity to a major metro area is important for smaller towns.
3. Generate Leads
Leads are distressed properties with motivated sellers.
Use lists from data providers (e.g., Propwire), free downloadable reports, and real estate agent contacts (double dip technique).
Multiple free and low-cost methods are available for lead generation.
4. Calculate Your Offer Price (MAO)
Determine the maximum allowable offer (MAO) by considering what an investor would pay, minus your wholesale fee.
Tools and calculators are provided to simplify offer calculations without needing detailed repair estimates.
5. Present Your Offer
Emphasis on making a high volume of offers to increase deal probability, as most sellers will say no.
Scripts and detailed daily strategies are available to help manage volume and follow up.
6. Execute the Contract
Get contracts in place with sellers, using state-approved or digital contracts.
Include standard clauses (e.g., inspection period, earnest money) to protect your interests.
7. Open Escrow with a Title Company
Use a wholesaler-friendly title company for handling assignments and closing.
Title company verifies ownership and manages the transfer process.
8. Find a Cash Buyer
Build a cash buyer list through local flippers, Facebook investor groups, Propwire data, and direct outreach.
Free scripts and training videos are available for effective communication.
9. Execute Assignment Contract
Assign your position in the purchase contract to a cash buyer for a fee.
Recommend collecting a sizable non-refundable deposit to ensure buyer commitment.
10. Close and Get Paid
Title company manages closing; seller and buyer sign, and wholesaler receives their fee.
Attendance at the physical closing is not required.
Additional Support and Resources
Ongoing education via linked videos and downloadable scripts/calculators.
Mentorship and partnership opportunities for those seeking to scale or learn directly from the presenter.
Decisions
Present as many offers as possible — Rationale: Increases likelihood of landing deals due to the low acceptance rate among sellers.
Use wholesaler-friendly title companies and digital contracts — Rationale: Ensures smooth assignment and closing processes.
Open Questions / Follow-Ups
Which linked resources or tools will the viewer use first to start their wholesaling process?
Any legal compliance requirements specific to the viewer’s chosen state or market to be further researched?