How To Wholesale Real Estate - Bird Dog Real Estate - YouTube

Kris Krohn here with Limitless Wealth TV and today we're talking about how to

wholesale real estate. This is a super exciting conversation because there's

all sorts of real estate out there that doesn't require a whole lot of time or a

whole lot of effort, certainly doesn't require any money or any credit and if

you're willing to bring a little ambition to the table, we'll show you how

you can get crackin making money right now in real estate.

Hey, guys. Steven Michael Miller here and we're here today to talk about a topic

that you've all been asking about and that is wholesaling. - Wholesaling is a

very simple concept, it's, I'm going to get a property under contract and then I'm

going to sign it to somebody else and I'm going to get paid some money to do it. This

is excellent for someone that has a lot of ambition and the more ambition you

got, the more money you're going to make because the reality is, you really don't

need money and you don't need credit to do this strategy and it's what makes it

really attractive and appealing. Essentially what you're becoming is a

bird dog and a bird dog, you know, in the hunting game, these are dogs bloodhounds

that are bred to go hunt down and find animals and basically, you're the bird

dog of finding really good real estate deals and if you think about it, - I thought you're

going somewhere totally different with that but that's awesome. - No, that's

actually where it comes from - I know.

-Alright, so this is perfect for the person that says,

alright, getting into real estate investing has a lot of responsibilities, right? Like

after I find the property, I got to come up with the money somehow some way to

fund the deal and then I got to hang on to it, I got to either fix it up

and then I got to get a renter in there or I'm going to flip it or I'm going to hold

it for a period of time and there are some people out there that are just

saying, "Wow, how do I make some quick cash in real estate because that looks like

a lot of effort." and instead they want to say, how can I come in at the start of

the deal and get paid a little bit of money and hand it off to somebody else

and run on to the next chase. - So there's two sides of the equation here for

wholesaling, you want to have both sides in place and intact and so it takes a,

like Kris said, it takes some effort and takes some doing. The first side is you

want to find good properties or again have a system in place that finds you

good properties. The second side of the equation is you need potential buyers

for those properties. If you don't have both sides of this equation, chances are,

you're not going to have a whole lot of success in wholesaling because you could

essentially get a home under contract and put up earnest money or you know,

be into it where you have to then purchase it and if you don't have the

buyer in place and that's just your property that you're going to have to take

down yourself which could be okay as long as you buy it right, but if you're

not planning on that and your goal was to wholesale it to someone else, it may

put you in a little bit of a predicament so make sure you have both sides of the

equation there. - So let's talk about both of these equations and also just get

really clear with this fact that when you're wholesaling the whole secret

to it is that when you get an under contract, you need to say that it's you

having it under contract and then you need to include these magic words and/or

a sign. That's what gives you the ability to essentially get a deal under

contract and then find someone else to give it to so with these two things that

Steven brought up, the first thing that you're going to need to do is find a

really good deal. I recommend watching one of my videos and we'll put a link up

here for it, that's going to teach you how to actually locate a really good deal

and we're going to teach you a very simple formula for how you run some basic math

and once you have a good deal, you want to race and get it under contract, have a

realtor right there at your side that can help do that, make sure your realtor

is on board with the concept of assigning it and they'll want to

do that with you if they have confidence that you have a group of potential

investors and buyers to get it from you, we'll talk about that in a second. So you

find a good deal, you put an offer, you get under contract, you use the magic

words and aura signs and boom, now you have it under contract but remember,

there's a fuse on this bomb which means you generally have 30, give yourself 45

days if you can to perform on it and really you have about a week to assign

it to somebody else so that they have the time that they need to work with a

lender and get it under contract and then essentially what they're going to do

is, they're going to pay you two, three, four, five thousand dollars and generally, if

the investor says, well I would have bought that property and all you need to

do is work in a small margin for yourself says well I'll give you this

one, I'm a bird dog, I find deals like this but my cost is two thousand dollars,

they can write you that check, boom, you sign it over to them and you're off

to the next race. The other question then is alright then, how do I actually build

a database of investors that I can market these homes to and this is

something that you can do through today's media world especially social

media. You can build some great lists and go out there and find people

and really all you got to do, I recommend two things, one, open up your preferences

on Facebook for example to build your list up to 5,000 people, go to other

investment related websites, go to any money related websites and all you want

to do is join these groups that have common interests and then as you make

posts, you're going to get people liking and commenting and all those people you want

to just hit, add as friend, add as friend, add as friend, if you do this

within three to six months, you can be up to 5,000

friends of like-minded people that might be interested in real estate

and then on your own Facebook page all you're doing is basically saying, hey,

I've got a great deal coming up, I'm looking for investors that have money

and are looking for deals and now you'll start building your own private list of

those individuals saying, I want that, I want that, the moment you get your deal

under contract, you can go now to your list of ten fifteen twenty people and

say, first-come first-serve, here's the details. Who wants it?

Now you've just successfully put yourself in a situation where you can wholesale a

property. - So you're going to want to get after it, okay. This is all about getting

after it, getting into it, making sure that you're committed to making this

work and and having both sides of the equation. You've got to have the

investors and then you've got to find the properties, if you've got both of

those and put that together, you've got an amazing opportunity for a great

wholesaling deal. - Now you can jump right into wholesaling but what Steven and I

want to do is, we want to give you a little bonus right now and we want to

give you something that can pay you ten times more profitably than wholesaling

that really is doing the same amount of work. I don't know about you but if I

can do the same amount of work and make ten times as much money,

this is going to be excited. So Steven and I, we have a

course we put together called partner profit and what you're doing is, instead

of bird-dogging properties, you come into our system where we'll give you all of

our properties and then all you really are bird-dogging instead of homes is

people. You're only doing half the equation now, you're taking our deals

because we have an excess of them and you're going out there using the same

system to find the investors and instead of punting deals off to them, we're going to

show you how to actually say, I've got deals, I get them on a regular basis and

I'm looking to come in as a 50/50 partner with someone that has the money,

me and my team will do the work, you put up the money,

now you're earning 50% long-term on the deals, there's way more money, same amount

of effort, just a little bit of a different game and if you're interested

in learning how to partner up with people, we recommend you click this link

and learn all about our partner profits program where Steven and I can hop on

the phone with you, someone on our team and really lay it down. Same amount of

effort, 10 times the money, this is how I've made more money in real estate

hands-down than anything that I've done, the secret, partnering. So wholesaling

good, partnering ten times more profitable, run with either of them, learn

your options and go crush it in real estate. I can hear it, you kind of interested in

what is this whole partner prophets deal, right? Click up here, learn more. I got

tons of information on how I built my entire portfolio with other partners

making it possible and I'm going to give you the deals and all the trainings so

that you can make the exact same thing happen for you.