if you're looking for a way to make a lot of money that is low risk easy to learn that you can do from anywhere then nothing beats wholesale real estate on this video I'm going to show you step by step how to wholesale your first house in as little as 21 days in fact I'm going to outline for you a 10-step process including all of the resources you need that you can Implement right now but first if you're new to wholesaling let me give you a brief overview in any given Marketplace there are investors that we call Cash buyers who are looking for distressed properties that they can either buy Fix and Flip for profit or buy fix and rent for cash flow these investors have cash or access to cash and they're actively eagerly looking for good deals every single day what a real estate wholesaler does is he goes out in the marketplace and he finds and sources good deals for these investors and he actually negotiates and enters into contracts on these discounted properties once a wholesaler has a contract with a seller he Now controls that property and takes the deal to an active cash buyer and offers to let him step in and take over the position in the contract and buy the property directly from the seller of course for a fee the wholesaler's profit on a deal is the difference between what a cash buyer pays for the right to buy the position on the contract and what the wholesaler has the contract for with the seller for example if the cash buyer will pay 175 000 for the deal and the wholesaler has the contract with the seller for 165 000 the wholesaler has a ten thousand dollar spread on the deal wholesalers are extremely valuable in the marketplace because they do the work to find source and bring good deals to cash buyers get good at wholesaling and you can do more multiple deals each month and make six and even seven figures a year in income that's my story nearly 20 years ago I was working in construction earning minimum wage and discovered wholesaling and started doing around five deals a month within three years I became a millionaire and I haven't looked back since if you don't know me I'm Jerry Norton I make millions of dollars a year wholesaling and flipping real estate and here on my channel I show you how to do the same so if you want to be a flipping Genius Like Me and live your dream life subscribe to my channel and watch my videos if you're just getting started then follow these 10 steps to get your first deal in as little as 21 days step one is to set up your business now while it isn't critical to doing your first deal why wait transacting in an entity gives you liability protection and tax advantages because you can write off expenses and most importantly it shows a higher commitment level because you're treating it like a business not a hobby it's just the right way to get started with any new business especially wholesaling houses now to set up your business you'll need to do three things first register an entity with your state two get a tax ID number so you can file a tax return and three open a business bank account I refer all of my students to Prime Corporate Services they specialize in helping Real Estate Investors get set up quickly and they're really good they'll even do a free consultation call with you to discuss what's best for you based on your goals I'll put a link in the description where you can set up that free call step two is to choose and learn your market now your Market is the geographical area where you're going to focus on for finding deals and finding cash buyers for your deals since you will be investing time and resources it's very important that you are clear about your market and commit 100 to that market changing markets is starting over at zero so be very intentional about choosing your Market the good news is no longer does your Market need to be local to where you live you can choose a remote Market this is called virtual wholesaling here are some important tips when choosing your Market first is the population needs to be big enough so there are plenty of opportunities in terms of both deals and cash buyers avoid rural markets choose a county that has at least a population of five hundred thousand if you do consider a deal in a smaller town it needs to be no more than 45 minutes drive to a major Metro City otherwise we'll be increasingly difficult to find the cash buyer step three is to generate leads now a lead is a distressed property the goal is to identify leads every day that you can go after and hopefully find a motivated seller a motivated seller is a property owner who will gladly sell their property at a discount and give up equity in exchange for peace of mind for example someone in pre-foreclosure a tired landlord someone who moved out of state and now the property is vacant someone who inherited a property and dozens of other lead types these owners desperately want out from under the stress that property is causing them and your job is to help them lead generation is the lifeblood to your wholesaling business without enough leads you simply can't find enough motivated Sellers and you won't do your first deal now I created a report that has over 67 different ways to find motivated Sellers and I'll give that to you for free check in the description box below for the download link now while there are several different methods to generate leads some expensive some low cost and some free one of the most effective methods is to acquire a list of distressed seller leads fortunately there are data software providers that compile organize and provide seller leads most of these softwares require a monthly subscription for a minimum amount of downloads with additional up charges for more leads that's why I recommend prop wire propwire is free to search and download as many leads as you want not only does propwater have over 157 million records Nationwide it's also really easy to use all you do is choose your Market choose your lead search and download and don't forget it's absolutely free to search and download as many leads as you want the monthly subscription and no additional up charges for more data and what could possibly be better than free nothing nothing is better than free especially when you're just getting started check it out at joinpropwire.com and see for yourself another free method to generate leads is to contact real estate agents some sellers decide to list their distressed properties for sale using real estate agents these are considered hot leads because the seller is actively trying to sell his unwanted property unlisted distressed properties the best strategy is to use my double dip technique this is where you go directly to the listing agent representing the seller and offer to let that agent also represent you by doing so that agent will get double commission and work hard to help you get the deal they will also bring you repeat deals ongoing so create an agent relationships in your Market is a powerful strategy and remember doing deals with agent doesn't cost you anything because of the seller pays the commissions not the buyer by the way I'll give you my agent scripts for free so you know exactly what to say and how to overcome objections just go to agentofferscripts.com for the free download I also created an exact blueprint to do three to five deals a month just working with agent I did a video that breaks it down in detail I'll put the link to that video in the description below for you also keep in mind propwire has on Market properties listed with agents as well so it really is your go-to for leads again just go to joinpropwire.com once you've generated some distressed property leads it's time for step four which is to calculate your offer price or what's called your maximum allowable offer or Mao you can't make an offer to the seller if you don't first figure out what the right price is so you actually make money on the deal The Mao is the price you need to get the contract for with the seller that factors in your desired wholesale profit and wholesale real estate when calculated an offer price on a particular deal the idea is to figure out what an investor would pay in cash to buy that property in that neighborhood and in that condition once you know what price makes it a good deal to a local active buyer simply back out your wholesale fee and what's left is your Mao for example a flipper who would be interested in buying the property fixing it up and then flipping it for a profit is going to look at the after repair value or the price you can sell for later after it's fixed up he's going to look at the cost of repairs he's going to have to factor in closing costs and commissions to sell it he's probably going to borrow money to do the deal so he'll have financing costs to factor in based on how long it takes him to do the flip and he's going to want to make a profit a good wholesaler knows how to look at the deal from the Investor's perspective so they can figure out what's a good deal but this step often trips up a lot of new wholesalers because they overthink it and spend way too much time analyzing the numbers that's why I created a simple offer calculator for wholesalers where it calculates the average as is value of the property and automatically calculates your offer price with built-in wholesale profit it's great because you don't have to spend any time analyzing comps to figure out the after repair value and you don't have to estimate repairs it's plug and play and instantly gives you an offer price and I'll give it to you for free just go to free offercalculator.com to get the download Once you determine your offer price it's time for step five which is to actually present your offer to the seller and when it comes to making offers there is a very valuable lesson you need to understand and the more you get this idea the faster you'll get to your first deal or your next deal are you ready for some profound advice you're going to want to write this down are you ready the more offers you make the more deals you'll do and the more money you'll earn let me say that again in fact to prove that you're paying attention write the following in the comments below the more offers you make the more deals you'll do and the more money you'll earn then throw in there Jerry you are flipping genius for good measure although that may seem obvious most new wholesalers don't get it you have to be willing to make a lot of offers keep in mind you're looking for the five percent of all transactions that happen every single month in any given marketplace where the seller is motivated to sell his property at a discount understand this most people are gonna say no which means the more no's you get the faster you'll burn through the 95 percent who aren't motivated and the faster you'll find the five percent who are motivated it's that simple it's just a numbers game here's my advice to all new wholesalers if you're not willing to make a hundred offers to get one deal then you have no business being a wholesaler I did a video where outlined a detailed game plan for making five offers a day like clockwork I'll put that video link in the description below for you once you've started making offers that special moment is going to happen where the seller says yes to your offer so step six is to execute a contract you don't have a deal until you have a contract because your contract is what you're going to sell to a cash buyer if the deal is on Market the agent will write and present the offer to the seller using their state approved contract but you still need to make sure that contract is written with everything you need to wholesale it I did a video where I break down exactly what to include in an on Market contract Link in the description with off Market there is no agent involved so you have to write and present the contract to the seller if you're a member of my wholesale CRM system called flipster my digital contracts are standard it takes a minute to fill out and then you just email it directly to the seller and they sign it electronically right on the spot to check out flipster on a seven day free trial just go to joinflipster.com as part of your contract with the seller you may have earnest money that you agree to pay earnest money is a good faith deposit that is held in escrow at the title company until the day of closing at which this time it's reimbursed to you I'll explain in a minute so keep watching try to give yourself about three weeks for closing if you can so you have plenty of time to find a cash buyer I also highly recommend including a 10-day inspection clause in your contract that gives you time as well to renegotiate or terminate the contract if you discover you don't have a good deal once you've executed a contract with the seller it's time for step seven which is the open escrow with a title company a title company is going to do a title search to verify who owns the property and find out if there are any issues such as liens or unpaid property taxes Etc they're going to prepare everything for closing where change of ownership will happen between the seller and the new buyer which we'll cover in a minute since you're going to assign the contract to a cash buyer make sure you open escrow with a title company that understands how to do that surprisingly not all do we call this a wholesaler friendly title company I did a video where I explained how to find a wholesaler friendly Title Company in your Market Link in the description below after you open escrow it's time for step eight to find a cash buyer as you go and over time your goal is to build a list of cash buyers in your Market that way every time you get a new deal you have ready to go buyers for it but in the beginning you just need a buyer for your first few deals while you're building your list so let me share with you my top three favorite methods to find the cash buyer the first method I call the neighborhood flipper method the idea here is to find other flippers who bought a house fix it up and then sold it or has it listed for sale in the same area as your deal flippers love to do deals in the same areas where they've previously done deals so this is a solid strategy I did a video where I show live how to find Flippers near your deal and contact them about your deal I'll put the link to that video in the description below my favorite method number two to find a cash buyer is using local Facebook investor groups every Metro Market has several public Facebook groups where investors hang out discuss investing stuff and post their deals obviously some groups are better than others it really comes down to how well the admin monitor and maintains the Integrity of the group and removes spamming and soliciting and really upholds the group's purpose and rules you want to join all the groups in your Market once you've joined all the groups make a post about your deal I did a video where I show how to create a simple video flyer about your deal that will stand out above all the other posts so you get a buyer super fast for your deal I'll put the link to that video in the description below for you and finally favorite method number three to find a cash buyer is best if you're serious about killing it wholesaling analysis and that searching and downloading a list of active cash buyers from propwire yes propwire also has cash buyers and even has a really cool feature where you can look up how many properties the cash buyer owns to see how big of a player they are and again it's absolutely free to search and download an unlimited number of leads just go to joinpropwire.com and to really help you get comfortable talking and building relationships with cash buyers I'll give you my word for word scripts for free these include my scripts for texting voicemail emails Etc check in the description box below for that download link and a fourth bonus method to find a cash buyer is not to I'll be your buyer I Fix and Flip houses all over the US and I'll pay you ten thousand dollars for every deal you find that meets my criteria if that sounds exciting go to my10kcheck.com to register for a free training to learn all the details once you've identified your highest and best offer from a cash buyer it's time for step nine which is to execute an assignment contract if you're doing a single closing the assignment contract is what allows the cash buyer to step in and take over the contract with the seller of course for a fee and again if you have my wholesaler CRM system flipster then a digital assignment contract is included which makes it really easy to send to your cash buyers for electronic signatures to test drive it on a seven day free trial just go to joinflipster.com now quick tip make sure to get a sizable non-refundable deposit from your cash buyer I suggest at least twenty five hundred dollars maybe even more this makes sure your cash buyer is committed and shows up on the day of closing once you have your executed contract and non-refundable deposit get both over to the title agent who you opened escrow with now they have the original contract with you and the seller and the assignment contract with you and your cash buyer and if they're good they'll handle everything from there and finally step 10 is to close and get paid on the day of closing title will close with the seller and your cash buyer and why are you your wholesale fee that means you don't need to attend closing I haven't been to a closing in years now following this 10-step process I outlined in this video it's possible that you can get your first deal in as little as 21 days but hopefully your goal isn't to just do one wholesale deal but to consistently do deals each and every month that means instead of chasing after a deal learn how to run a business that does deals there's a big difference and if you'd like to work directly with me and learn how to make a six and even seven figure income while partnering on deals with me so you earn while you learn then check out my mentor and partner program called Fast Track for free training with all the details just go to fast trackwithjerry.com and finally if you're new to wholesaling and you have time but no money I did a detailed video where I show step by step how to do three to five deals a month watch that now and I'll see you on the next video