Think-Realty-Magazine-January-2018

NUTS & BOLTS COACHES CORNER

STRATEGIES: REITs Panel in Print

SONIA BOOKER

Courses: Investment Criteria • Market Research • Investment Planning • Creative Real Estate Investment • How to Fund Real Estate Deals

“I did my very first transaction while I was still running my insurance agency. I part- nered with another agent. My job was to find the property and buy it. Then, he financed the repairs and oversaw the construction crew. So you can see, I started out fixing-and-flipping instead of wholesaling, but the lesson I learned there applies to wholesaling as well. “I’m always telling people who want to get started in real estate that the best way to do it is to find someone who has something you don’t have, then offer them something that they don’t have. I have had so much fun and so much success identifying my own strengths and learning about the different strengths that people around me bring with them. “It’s so important to approach someone with whom you want to partner with a clear vision of what you are willing to put into their business and their success. To go to the next level, whether it is starting at nothing and doing your first wholesale deal or going from a couple single-family investments to major construction where you are building multifam- ily developments from the ground up, you have to be able to show that you are willing to have skin in the game and get your hands dirty. If you want help wholesaling, it’s out there waiting, but you have to show that you have a level of willingness to work and learn.”

Think Realty coach Abhi Golhar breaks down the wholesaling process in the Think Realty studio.

Insider Insights on Wholesaling he process of wholesaling houses is one of the most popular ways to get started in real estate investing because

and successfully scale the strategy, others use it as a stepping stone to other real estate tactics. In this month’s Panel in Print, three Think Realty coaches discuss how they would recommend real estate investors leverage wholesaling as part of a larger real estate strategy. •

ABHI GOLHAR

it requires very little overhead, offers a fast exit with expedited returns, and is fairly easy to navigate for beginners. While some investors stick with wholesaling for their entire investing careers

Courses: Wholesaling • Finding Buyers • Finding Wholesale Deals • Navigating Wholesale Paperwork • Building Your Dream Team • Executing the Wholesale Deal

“What’s interesting about wholesaling – and really attractive to real estate investors at all levels from completely new to extremely experienced – is that wholesale deals offer massive benefits and could be one of the only strategies to see the highest upside in real estate with very little financial risk. Even more importantly for investors who are new, wholesaling presents a wonderful opportunity to find their unique investing mindset, to really learn who they are as an investor, network with players in the market, and identify which angles of real estate really work for them. “Of course, a lot of people might ask: • Why not just jump into a fix-and-flip? • Why not a single-family rental or even a commercial building that will cash flow? • Why not just buy and hold long-term? “Well, it all goes back to that high upside and that mindset, and wholesaling might be just the perfect fit for you. Even if you move on to other things eventually, it is a great way to generate the extra cash you need to start investing using other strategies. For some investors, wholesaling is a perfect fit and they never do move out of this niche into other areas because

GARY HARPER

Courses: Personal Growth • Vision • Goals

“Having been a real estate investor since 2004, I would have to say that wholesaling is probably my favorite real estate strategy. That surprises a lot of people, but for me, whole- saling is one of the cleanest real estate transactions when done right. Not only does it have the least moving components of any type of real estate transaction, but when you do a wholesale deal correctly a lot of people win. “I have done a lot of real estate in rentals, property management, and other techniques. I like the benefits that come with these types of investments as well, but getting in and out of a deal is always just about my favorite. “I would tell someone who has not yet done any wholesale deals and is trying to get started they should first get with a real estate coach or even intern in an office with someone who is already wholesaling. That will help them really understand the different ways that people do this type of deal. For example, you have to decide if you want to do assignments or if you want to actually close on assets and then resell them. You need to know how to work with real estate attorneys and title companies, and you need to network so you are involved with the best people around you. “Finally, I would say that wholesalers should find a good real estate agent. Wholesalers tend to avoid agents, and I don’t understand that! A real estate agent will bring you a ton of value: broker price opinions, repair estimates, their network, etc. Everyone can play in this game together.”

they create thriving, flourishing wholesaling businesses. Take it from me, my team and I still wholesale deals. “Would you believe that there are a lot of investors out there who have no idea that you can have a legitimate, profitable, large- scale wholesaling business? You build a business structure and investing strategy with buyers on one end, sellers on the other, and then you connect the dots. Even better, you can wholesale from anywhere, at any time, which makes wholesaling ideal for investors seeking freedom in 2018.”

14 | think realty magazine :: january 2018

thinkrealty . com | 15

Made with FlippingBook - Online catalogs