Date and time Saturday, October 26 · 8:30am – 6pm PDT
Location IMAN CULTURAL CENTER – COMMUNITY ROOM 3376 Motor Avenue Los Angeles, CA 90034 United States
About this event Event lasts 9 hours 30 minutes
5th Annual Los Angeles Real Estate Grand Expo
We are very excited to announce our 5th Annual Los Angeles Real Estate Grand Expo. The Grand Expo returns on Saturday, October 26, 2024, 8:30 am to 6:00 pm.
Join us early and avoid crowds so you can focus on learning because we’re taking over the entire Iman Cultural Community Center for the entire day.
The North Hall (vendor exhibition area), the South Hall (workshops), and the middle parking lot (loaded with workshop tents and food trucks). The theme of this year’s Grand Expo will be “Hedge Inflation – Buy Real Estate”.
Last year, the Grand Expo was the largest real estate event in Southern California. We had over 800 investors, 64 vendors, and 12 national speakers…this year will be even BIGGER! An entire day celebrating real estate investing and you can be involved. Best of all, the Grand Expo will be FREE to attend.
This Expo is going to be big, really BIG! We are hosting investors from around the nation once again.
LAST YEAR’S EDUCATORS. There will be national guest speakers (in three breakout rooms). Here is a partial list of LAST year’s educators:
1. Jonah Dew – “The Money Multiplier”
2. Eddie Speed – “Buying Discounted notes”
3. Rusty Tweed – “1031 Tax-Deferred Exchanges”
4. Joe Arias – “How to Get Started Investing”
5. Christopher Meza – “Developing Raw Land”
6. Tony Watson – “Tax Advantages for R.E. Investors”
8. Abbas Mohammed – “Investing in Multi-Residential Properties”
9. Marco Kozlowski – “How to Buy Lots and Lots of Houses”
10. Amanda Brown – “Invest in Commercial Real Estate”
11. Shawn Tiberio – “Marketing for Real Estate Investors”
12. Joseph V. Scorese – “How to Finance Your Next Deal”
13. Jeremy Rubin — “From Employee to $100M in Flips”
14. Steve Price (Keynote) – Vice President at Auction.com
15. Seth Phillips – BONUS SESSION — 8 AM PT – “Meet Mr. ADU”
INVESTMENT EDUCATION. An all-day in-depth educational extravaganza celebrating real estate investing. Most importantly, this will NOT be a sales pitch. So regardless of whether you are a new investor, already own properties, or are very experienced, our Grand Expo is for you!
THIS EXPO IS COMPLIMENTARY – BE SURE TO JOIN US TODAY!
https://www.realestateinvestormagazines.com/wp-content/uploads/2024/08/LA-Grand-Expo-3.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2024-08-09 04:29:412024-10-31 05:30:115th Annual Los Angeles Real Estate GRAND Expo
Date and time Saturday, August 24 · 10am – 12pm PDT
Location Online
About this event Event lasts 2 hours
Attention savvy real estate investors, it’s time for another educational and exciting Realty411 Virtual Investing Summit uniting readers for an amazing day of information and motivation.
Register for Our NEW Virtual Investing Summit on Saturday, Aug. 24th, from 10 AM to Noon PM PT (1 PM to 3 PM ET).
Guests can join Realty411’s complimentary investing summit and learn from our expert who will be sharing important knowledge, strategies and insight.
On this Realty411 Virtual MeetUp we will unite some of the most successful, knowledgeable and savvy investors in the REI (Real Estate Investing) industry to help our readers make educated and informed decisions.
Since 2007, Realty411 has produced real estate-investing events and expos throughout the nation. Our mission is to educate and empower individuals to invest in real estate. Our virtual events have united hundreds of new and sophisticated investors in real-time from 47 states so far — in total representing 375 cities across the United States.
Join us for an amazing time learning real estate education. Every online event we produce is unique, be sure to reserve this day for REI learning at its best.
OUR COMPLIMENTARY VIRTUAL CONFERENCES HAVE REACHED THOUSANDS OF INVESTORS – THIS IS YOUR CHANCE TO LEARN EXPERT STRATEGIES ONLINE.
PLEASE CONSIDER UPGRADING TO A VIP STATUS AND JOIN OUR PRIVATE INVESTOR NETWORK WITH THOUSANDS OF INVESTORS ACROSS THE NATION.
At this SPECIAL online event, guests will:
Learn from Leaders & Industry Pros
Chat with Local + Out-of-Area Investors
NON-Stop Tips for Real Estate Success
Learn with Long-Term leaders in the REI Industry
Receive the Latest REI Knowledge from Real Investors
Discover the Power of Leverage with OPM and Creative REI
We Have Been Sharing Life-Changing Information for 17 Years +
Join from a PC, Mac, iPad, iPhone or Android device – Schedule will be sent to all guests. Thank you.
https://www.realestateinvestormagazines.com/wp-content/uploads/2024/08/webinar.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2024-08-08 01:55:082024-09-21 00:17:03Realty411’s VIRTUAL Investing MeetUp – Learn LIVE with Us
Thinking of investing in real estate? You’ve come to the right place. Real estate has created financial independence for many throughout the years. Ordinary people have created significant wealth for themselves thanks to the power of real estate. By starting your journey with the right ideas, then you can begin reaping the rewards real estate has to offer.
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Education
No, you do not need a college degree to start investing in real estate. However, you should spend as much of your time as possible learning about investing in real estate. Knowledge is power and the more you learn about real estate, the better chances you have for succeeding. There are a variety of resources for you to learn real estate. It may seem overwhelming but that is a common feeling for many as real estate has so many categories and details. The best thing you should do is just get started. Pick up an interesting real estate book. Watch YouTube videos or listen to podcasts. Join your local real estate group. Talk with an agent. There are so many activities you can take advantage of to start your path towards learning more about real estate.
Finances
Another starting point on your journey towards investing in real estate is figuring out your current financial situation. How much liquid capital do you have access to? How much are you willing to invest? What is your current credit score? These are some of the many questions you should start asking yourself. It is not enough to know everything there is about real estate. You should also develop a strong financial literacy because finances play a big role in your ability to secure deals. A great strategy is to save as much money as you can while you are educating yourself about real estate. That way, by the time you are confident to start investing, you will have access to the capital you need to get started.
Goals
What are your goals? Do you want to achieve financial independence? Are you interested in flipping properties or would you prefer to start buying income-producing properties? Truly think about what you are looking to achieve out of the real estate and write them down. You should revisit your goals daily and weekly. You must be laser-focused when chasing your goals. Also, don’t forget to work backward. What steps will you need to take to achieve your goals? There are so many different options available when it comes to real estate. Think about which path you’d like to take and what outcomes you are looking to achieve.
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Final Thoughts
By starting with the right ideas, you can set yourself up for success by thinking about the necessary actions that you will need to take to begin investing in real estate. Thinking about educating yourself, understanding your finances, and developing your goals is a great place to start when beginning your journey towards investing in real estate. Take action today and start thinking through the suggested ideas or to begin your journey.
Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors.
RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.
Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping, R stands for Rentals and Retirement, and Wholesaling Real Estate.
“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone, I am CERO generation, usually people say, I am first or second generation but I was the one that crossed the border, no language, no friends, no family, no money, nothing, nada… If I can do it, anyone can.”
From a young latino immigrant to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.
Learn live and in real-time with Realty411. Be sure to
register for our next virtual and in-person events. For all the details,
please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.
https://www.realestateinvestormagazines.com/wp-content/uploads/2024/07/ideas.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2024-07-09 02:35:082024-07-09 02:35:10Starting Ideas for the New Real Estate Investors
The biggest mistake you can make when investing in real estate is believing there is only one way to invest. You probably have watched several shows on TV and assume the number one way to invest in real estate is a fix and flip deal. However, this is only one niche out of the many that allow you to invest in real estate and generate long-term wealth.
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Before going into detail around which categories are available to invest in within the real estate industry, it is best to start with writing down what your goals are. This will ensure you choose the right category that aligns with your level of risk tolerance along with your lifestyle. Some investments like fix and flips require more involvement on your part compared to other options like buying and holding rentals. Another factor to consider is your budget. Maybe you have heard of strategies involving no money down deals and those certainly exist. However, for the majority of investors, you will most likely require some kind of funding towards your first deal. Based on criteria set by your goals, lifestyle, and budget, you can choose from a category that matches your tolerance for investing.
A final note when considering investing in real estate. Don’t leave everything up to the experts. Here at RealSucces we highly recommended that you take the time to educate yourself on how to invest in the category you choose. Do the homework first while saving capital to begin and you will be well-positioned to begin your journey towards creating long-term wealth through real estate.
Invest in REITs – Real Estate Investment Trusts
Wonder how you can take a more liquid position in a real estate investment without worrying about or owning a physical property? A REIT is a low barrier way to begin your journey into investing in real estate. REITs are easily bought like stocks and available on the New York Stock Exchange or NASDAQ. You are buying into companies that own real estate such as residential, commercial, and industrial based properties. Simply use your existing brokerage account or a new one to purchase REITs and earn income in two ways. First, REITs pay a high dividend compared to traditional blue-chip stocks. Second, like a stock, the value of the REIT share can go up which you earn money through appreciation.
Buy and Hold Rentals
Most outsiders associate that being a landlord requires answering the midnight call to unclog a few toilets and criticize that tenants hardly pay rent. That couldn’t be further from the truth. First of all, if you set up your investment correctly, you never have to worry about this at all. You can simply hire a property management group to take care of managing your tenants. Oh and worried about bad tenants? You shouldn’t be. You are the one who gets to vet and filter through who you believe should be best placed in your investment property. Unless of course, you allow your property manager to do it for you. You are given financial records, references, and can request additional information to best vet through the right tenants. Investing in long term rentals is a great way to generate cash flow that can pay for many of your expenses.
Fix and Flips
The traditional fix and flip investment is the most commonly referenced way to invest in real estate. Yes, this requires more of your upfront effort but when you sell the home, you can pocket several thousands of dollars that make it all worth it. While businesses are built on the fix and flip model. Just do your research and see if this approach aligns with your level of involvement you’d like to have in your investment.
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There Is More!
Three of the many ways to invest in real estate have been mentioned but there are so many more creative ways to invest. Short-term AirBNB rentals, rent by the room, online real estate platforms, hard money lending, and so many more creative categories exist when investing in real estate. At RealSuccess we give you the tools you need to achieve your goals. The most important thing to remember is to write down your goals and align with the investing strategy that works with your lifestyle and needs.
Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors.
RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.
Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping, R stands for Rentals and Retirement, and Wholesaling Real Estate.
“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone, I am CERO generation, usually people say, I am first or second generation but I was the one that crossed the border, no language, no friends, no family, no money, nothing, nada… If I can do it, anyone can.”
From a young latino immigrant to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.
Learn live and in real-time with Realty411. Be sure to
register for our next virtual and in-person events. For all the details,
please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.
https://www.realestateinvestormagazines.com/wp-content/uploads/2024/07/real-estate-investment-categories.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2024-07-03 04:17:532024-07-03 04:17:55Categories of Real Estate Investment
Providing affordable housing options to families remains a high priority among government and business leaders, especially as the cost to own an average size home continues to rise. Being able to provide affordable housing options to people boils down to planning, design and construction costs, all of which can be reasonably addressed and resolved with a well-planned approach. And as more communities and towns look for ways to help their citizens afford a place to live, there are some smart ways to save on costs while designing and building residences that people will be proud to call “home”.
80/20 Rule
Eighty percent of an affordable housing development can be standardized, meaning that the individual units adapt a repeatable design to save on planning and construction costs. With these savings, more money can be spent on the remaining 20 percent of the development which includes amenities, entry ways, lobbies, courtyards, and many of the common areas that enhance the quality and appearance of the development. The remaining 20 percent is where the magic happens from a design and construction perspective and can truly elevate the appeal of a development.
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Efficient Design and Construction
By designing efficient and repeatable floorplans for individual units, an affordable housing development can save money, avoid problems during construction and shorten the learning curve for future developments. This streamlined approach to design should also take into account the types of materials being used for the construction of the development. Durable materials and a simple palette will contribute to a more favorable bottom line. These types of materials include brick, metal siding, fiber cement siding such as Hardie Board, all of which are cost efficient, easily constructable, easy to maintain and reuse and fire resistant for overall safety. The construction industry also provides efficient ideas such as prefabricated and modular construction solutions.
Smart Site Selection
Finding the best site to build on is a critical first step in developing and building an affordable housing community. Doing so will help to avoid delays and costs associated with the entitlement process. For example, the land should have ready access to existing municipal services so nothing new needs to be installed or accounted for (urban infill sites are ideal for this requirement). The land itself should have a level topography (no sloping) to avoid unnecessary design and construction challenges. It should also have good, clean soil (without any brownfield contamination that would need to be excavated and hauled away). Proper drainage is also key to avoid costly issues with ground water and flooding.
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Proper Scale
An affordable housing development can more easily attain its goals (in terms of development, design and construction costs, as well as the pricing of homes) with larger projects providing in the range of80-120 units. Projects can achieve economies of scale by increasing production efficiently and spreading the costs over a larger number of repeatable units. Also, a good site can also yield better results when less of the budget needs to be spent on horizontal construction, such as utilities, site access, and grading.
Creative Funding Sources
As the affordable housing crisis continues to be a focal point, more funding sources and support are becoming available, but it does take effort and time to identify and secure them. Some of the readily available sources include federal tax credits, State programs, local level programs and grants. Most affordable housing projects we’re involved with are funded by multiple sources including some private investors.
Overcoming Obstacles
Unfortunately, there is still some NIMBY pushback to affordable housing development. There are also examples of residential developers, often targeted as entities only interested in making-a-buck, who want to include quality affordable housing options in their overall development plan but are stalled due to public resentment and barriers to getting projects approved. In our experience, robust community engagement and outreach can make the difference in a project that gets built and one that fails.
With increased costs and higher interest rates, stagnant salaries and weaker earning power within family units, and inflation affecting everyone’s budgets, affordable housing is an ever-growing need in modern society. It is a need that must be addressed by identifying the most efficient ways to develop, design and build housing that people can afford. A “we’re all in this together” mindset by all stakeholders is necessary to bring more housing to fruition.
Kristen Uitto , Principal Architect, Caddis Collaborative Architecture, Urban Design and Planning
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Real estate is one of the best investment vehicles in the world to make money. The versatility of real estate truly provides an opportunity to invest in a variety of different ways. No matter your background, experience, or financial situation, there is a way for anybody to get started in real estate today.
Why invest in real estate? Did you know in the last two centuries, over 90% of the world’s millionaires have been created by real estate? When it comes to investing in real estate, there are multiple different ways for investors to make money in real estate. Examples include passive income through rentals, appreciation from property prices increasing, flipping, and so many more creative ways. No matter your style or risk tolerance, real estate will present a way to make money to match your goals.
Fix and Flip
One of the most common ways investors make money in real estate is through fix and flips. In a nutshell, the goal is to purchase a home in disrepair below market price, remodel and fix up the home, and then put it back on the market to sell for a hefty profit.
Savvy investors can scale their business to accommodate over 100 flips per year. The average gross profit from a flip is about $62,700. Multiply that by any number of flips and you can see why so many investors are interested in fix and flips. A best practice is to buy in appreciating markets where the forced appreciation from fixing the home can also ride the demand within the market.
When analyzing deals, you’ll want to use comparable homes to understand what the potential price can be of your fix and flip. Consider factors based on your market. In certain markets, the value of the home may judge more on the square footage of the home. In others, it depends on the renovations more than the square footage. Look for opportunities for improvement. Can you add a bathroom or bedroom?
Also, remodeling kitchens are more important than the actual bedrooms. Many different strategies go into a fix and flip. Just understand that ultimately, your knowledge of the market and your ability to secure a deal under the market will help increase your chances of completing a successful flip.
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Buy and Hold
Another popular way to invest in real estate is through buying and hold rentals. This involves purchasing a property to rent out either for the short run or long term. Through buy and hold real estate, an investor can generate passive income by collecting rent each month. The way you make money is when buying the property, your expenses should be lower than what you are renting for.
Anything in between your expenses and the rental rate is your profit. Let’s say you buy a house for $150,000 and your monthly expenses that include mortgage, taxes, and insurance equal to about $1,000. You rent the house for $1,300. The net cash flow that you collect is $300 a month after everything. That’s $3,600 a year just from one investment. Again, multiply that number by the number of properties you’d like to own, and that number grows rapidly. At the same time, if you have a mortgage on the home, your home, each money you are gaining equity as you pay down the principal. Another includes appreciation. Real estate typically grows at a rate of 3.0% or higher depending on the market.
Over time your initial investment will be worth more. For those investors interested in passive income, Buy and Hold is a fantastic strategy to make money in real estate.
REIT
If buying real estate directly is not your interest, another possible way to still take advantage of earning an income from real estate without owning is buying into a REIT. A REIT is a real estate Investment Trust. You can buy a REIT the same way you would buy a stock which makes it more appealing to some investors. Usually, publicly-traded real estate investment companies that buy different real estate assets are what makeup REITs.
The advantage of buying a REIT is that they offer a high rate of return in the form of dividends. Some REITs even payout monthly. It is not uncommon to find a REIT that pays out over 5% return in the form of a dividend. The cash flow these companies generate from their rentals is passed onto their investors.
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However, unlike stocks, REITs typically don’t appreciate the way that stocks like Apple and Tesla do. Be wary that if you are looking to double or triple your money, a REIT probably is not the solution for you. That said, if you are looking to park your money and generate some form of passive income, a REIT may be a type of real estate investing that you may want to take a look at.
One other benefit behind a REIT is the barrier of entry. The fact is, as long as you have an account to buy stocks and REITs on, you can buy individual shares of a REIT and slowly grow your account. This is great for beginners that are looking for some form of cash flow.
Where To Start?
If you want to make money in real estate, consider investing in yourself and doing what it takes to learn about real estate. Additionally, you’ll want to get your finances in order as that is critical when it comes to buying real estate. Look into the different ways to invest in real estate and see which approach aligns best with your lifestyle and risk tolerance. Not everybody has the time to invest in flips and manage a rehab. Understanding which style of investing matches your goals is important before getting started. Speak to a few experts and gain some additional insight. Before long, you too can be making money through real estate.
Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors.
RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.
Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping, R stands for Rentals and Retirement, and Wholesaling Real Estate.
“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone, I am CERO generation, usually people say, I am first or second generation but I was the one that crossed the border, no language, no friends, no family, no money, nothing, nada… If I can do it, anyone can.”
From a young latino immigrant to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.
Learn live and in real-time with Realty411. Be sure to
register for our next virtual and in-person events. For all the details,
please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.
https://www.realestateinvestormagazines.com/wp-content/uploads/2024/06/real-estate-money.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2024-06-24 06:09:172024-06-24 06:09:18HOW TO MAKE MONEY IN REAL ESTATE
Wholesale real estate is a great way to get some real estate investor experience without spending tons of money. Like any other real estate investing method, you should make sure this aligns with your goals and personal interests before getting started. In this article, we’ll help you better understand wholesale real estate for beginners so you can identify if it’s the right choice for you as you get started in real estate investing.
What is Real Estate Wholesaling?
Essentially, you would act as the “wholesaler.” Your job is to acquire a contract to sell from someone looking to sell a property. You would then find someone interested in buying the property – usually a real estate investor – and you will sell them the contract. Never at any point do you buy or sell the property. Instead, you find properties selling from slightly less than market value and connecting them to buyers for a fee. Many people like wholesaling real estate as beginners in investing because it doesn’t require you to invest any money in the properties. It’s relatively low risk and can have a low turnaround time.
Real estate wholesaling is completely legal, despite the debate around it. This is because the wholesaler is never actually selling the property, just the ownership of the contract to buy the property.
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How do You Make Money Through Real Estate Wholesaling?
As a wholesaler, your job will be to find properties that are being sold under market value. Once you get into contact with the property seller, you will work with them to get a purchase contract. You will have to do your research and provide your seller with information on the value of their home and why they should work with you. Once you get the contract, you will find a real estate investor interested in the property. You will then sell the purchase contract to the buyer. You earn your revenue through a wholesaling fee attached to connecting the buyer and the seller. This is typically a percentage of the overall cost. To reiterate, you are only selling the contract to purchase the property, not the property itself.
Many buyers like working with wholesalers because they do all of the work of finding the properties, assessing the value, and negotiating with sellers. Despite having to pay the wholesaling fee, it’s often still worth the extra cost.
The Pros of Wholesaling Real Estate for Beginners
Valuable Real Estate Knowledge and Experience
If you want to gain connections and knowledge about real estate without the financial risk, wholesaling real estate is excellent for beginners. You still learn the basics of real estate through negotiation, organizing, finances, and legal aspects. Through wholesaling, you’ll deal with many different properties and investors, and you can start to identify what you like and what you don’t. When you switch investment styles, you’ll know what to look for.
Quick Turnaround
After you learn what you need to know to get started, the best way to learn how to wholesale is to get the experience. You can get this experience quickly, as wholesale real estate can be a relatively quick turnaround. This is great for beginners because it means you get your money faster and build your connections faster. Things like house flipping can take months, and when you don’t have a lot of revenue coming in, that can hurt your potential to succeed in real estate. Wholesaling, however, has about a month turnaround for each business dealing. If you think you can handle more than one, you can time them out to make sure you’re getting paid more than once a month.
No Capital Required
The best part of real estate wholesaling is that you, as the wholesaler are not obligate to dish out any money. When you start off in real estate, money is often the most significant barrier to becoming successful. Choosing beginners who opt to start with wholesale real estate set themselves up for success because they make all of the valuable connections and gain experience and knowledge without investing all of their money. If you are worried about getting started because you do not have a lot of capital, wholesaling may be your best method.
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Cons of Wholesale Real Estate
No Guaranteed Income
Unlike other real estate investing methods, wholesale real estate has no guarantee of working out and ending in a paycheck. Beginners who decide to invest in property management can usually guarantee a steady income through tenants paying rent. The only time you will get paid is if you can successfully match a seller and a buyer and complete a deal. Even then, you’ll have to wait to get paid until everything goes through. As you get better, you’ll have more confidence in your income, but it’s never something you can count on.
Networking Heavy
Your paycheck is entirely dependent on your ability to find a buyer who wants to invest in the property you’ve found. Suppose you do not have the type of personality that does well with networking or negotiating. In that case, that is something you want to really consider before choosing wholesale real estate as your career. If you are unable to find a buyer, you may be financially obligated to purchase your property. As you build your references, this risk may be avoided. It’s still something you want to heavily consider if reaching out to a lot of people makes you uncomfortable.
Is Wholesale Real Estate Hard?
The short answer- yes. Wholesale real estate can be complicated when you’re first starting off and don’t have many connections. After you make your first couple of deals, things will start to get easier. You will begin forming a buyers list and have connections to pull from when you find properties under market value. The hardest part is having all three components in sync. If you are missing any of these three components, you will not have a successful wholesale real estate business. First, you must be able to identify properties being sold for well under market value. Second, you must have good negotiation skills to make deals with the seller. Lastly, you need to find and partner with cash buyers who are willing to purchase these properties. To be a successful real estate wholesaler, you have to build strong connections with buyers, create robust lead lists, and network with others in real estate.
Real Estate Wholesaling Explained
Wholesale real estate is a relatively simple concept once you lay it out in a scenario. Let’s start at the beginning of the process with finding a home for under market value. You find a homeowner looking to sell their home. The house isn’t in great shape and will not be able to sell for market value. The seller of the home has two options. They can spend the money to rehab their home and fix it up, hoping to sell for market price. Or, they could enter into a wholesale contract with a real estate wholesaler. Essentially, the contract between the wholesaler and the homeowner would give the wholesaler the right to buy the property at an agreed-upon price under market value. The real estate wholesaler will then look for an end buyer willing to pay slightly more than what they agreed upon with the seller. The end buyer is usually another real estate investor. The wholesaler will sell the rights to buy the house to this new investor. Essentially, they are selling the contract. They are not selling the home because they never bought the home. The wholesaler negotiates a contract, then sells that contract, which gives the buyer the right to buy the property.
Essential Skills to Become a Successful Real Estate Wholesaler as a Beginner
Real estate wholesaling comes down to a few key concepts. Once you capture these concepts, you’ll be able to succeed and start making a profit.
Negotiation Skills: Real estate wholesaling revolves around negotiating with both the seller and the buyer. For the seller, you have to convince them to sign a contract with you to sell the right to buy their home for under market value. Then, you have to convince an investor why they should be interested in buying your property. Having to convince one person is difficult, but convincing two takes some serious skills.
Technical Skills: If you are tech-savvy, you can quickly get ahead of your competition. Not everyone in the industry fully utilizes technology. If you take full advantage, you will become successful. Ensure you have a fast, modern website that makes it easy to get in touch with you. Develop a presence on social media and connect with real estate investors in your area. Utilize software to handle your finances, help you find properties under market value, and keep you organized. All of this will make a massive difference in your business.
Time Management Skills: You need to understand the value of your time and your own personal limits. If you take on everything all of the time, you’re going to get burnt out. This will not only affect your mental health, but it could also lead to errors in your business. Understand what you can personally manage, then outsource or delegate the rest.
Create Your Business Plan for Real Estate Wholesaling
If you’ve decided that wholesale real estate is the right next step for you, it’s time to develop a business plan.
Identify Good Places to Find Leads
This applies to both your real estate investors looking to buy and your homeowners looking to sell. If you can’t get leads, you’re not going to make any money in real estate wholesale. To find leads on homeowners looking to sell, utilize websites like Craiglist.com, Loopnet.com, Propertyshark.com, Realtor.com, etc. These websites provide tons of data that can help you find leads for your business. For leads on real estate investors, use your networking skills. Put yourself in real estate groups and places where investors will be and start making valuable connections. Establishing an excellent social media presence can also help you build rapport with other real estate professionals.
Build Connections with Buyers
Every time you complete a sale to a buyer, have a conversation with them about how you can be mutually beneficial to each other. Take the time to understand what they are looking for in properties they invest in. Keep a spreadsheet of all buyers you work with and what types of properties they buy. Reference this sheet every time you find a property that you can wholesale and pair it up with the buyer who it matches. This could take time but will build an invaluable relationship.
Do Your Research
Both your seller and your buyer expect you to offer them a well-researched and honest price for the property. For your seller, you need to give them a price along with information on comparable sales in the area, estimated cost of repairs, and the after repair value of the property. All of these numbers should be included in your offer to both the seller and the buyer. Do not try to edit the numbers to profit more. Sellers who see through this will be offended and cancel the deal. Buyers will have done their research and will know what you did. You’ll get a bad reputation, and the buyer will never want to work with you again.
How to Find Buyers for Real Estate Wholesale Deals
You can find sellers who have great properties under market value, but you will never make a profit if you can’t find any buyers. The more deals you make, the more buyers you’ll form connections with, and the easier it will get. Until then, you need to learn some strategies on how to find buyers when you are a wholesale real estate beginner. These are a few creative ways to find buyers when you are first starting out in wholesale real estate.
Craigslist
Craigslist is a great place to start when looking buyers. The site allows you to place ads and start collecting leads on interest buyers. Aside from that, you can use Craigslist’s “housing” section to identify property owners in the area who may not be ready to buy right now but could be valuable connections later on.
Social Media
Social media is a great way to find real estate investors in your area and connect with them. Sites like LinkedIn, Instagram, Facebook, and even NextDoor could be good places to start. Many investors have Instagram accounts where they post about their house flips or deals. Start building a connection with local accounts that could turn into buyers. LinkedIn is a great place to make business connections and post about potential deals. Facebook has lots of local real estate groups you can join; they also have Marketplace features that include real estate options. You can either post in those or look for leads later on.
Networking
Networking will be one of the most valuable things you do in your real estate career. If you are not already a member, join your local real estate group, either online or in person. Go to every networking event and meet as many people as possible. Mention what you do and ask around to see if anyone knows of real estate investors who utilize wholesale real estate in their businesses. You may also want to build connections with real estate agents, as they have access to lists of recent cash sales.
Website
Establish your presence online as a real estate wholesaler and optimize your SEO so that you rank well on Google if anyone searches in your area for wholesale real estate. Create a lead capture form on your website where potential sellers and buyers can submit their information.
Courthouse Auctions
Buyers must have all cash at courthouse auctions, so this is a great place to go if you are looking for buyers for your deals. Visit these auctions regularly and start to build connections with the people who attend. Get to know these buyers and the types of properties they look for so you can reach out if you find one that fits their needs. Ask for their information and follow up.
Important Things to Remember for Real Estate Wholesaling
Utilize Buyer Preferences
Every buyer has their preference of properties they like to buy. Once you know what your buyers are interested in, you can start prioritizing deals based on that. Keep a spreadsheet of all of their preferences and reach out to them when one of your properties align with their interest. Do not reach out to buyers with every single deal if you don’t to. If one of your buyers is not a house flipper, don’t have them a house that needs a ton of work. Utilizing your knowledge of your buyers will help you guarantee a sale.
Understand Your Seller
Although you want to get your properties contracted for a low price, you need to be fair to your sellers. While you may understand why you are offering them a specific price, if you do not communicate all of those reasons to them, they will not. When speaking, you will want to show them your reasoning without making them feel bad about the state of their property or the value it’s at. While this all comes down to numbers in real estate, it may be a much more emotional process for them. There could be other buyers communicating with them for all you know, so make sure you form a good connection during this process.
Another important aspect of your wholesaling real estate business should be transparency. Sellers need to know that they can trust you. If they know that, they’ll be much more likely to work with you. Be honest about them with pricing, risk, and updates.
Keep Everyone Up-to-Date
Your buyer and your seller will feel more at ease if you are transparent with them every step of the way. Make sure to communicate with both of them any time something new happens. Even if you did your part and got the contract handed over, stay involved until the end. These are relationships you may need to use in the future for more deals, so you want to make sure everyone feels comfortable and happy. Do what you can to ensure open communication and complete transparency throughout the entire process.
Maintain Connections
Your business with your buyers should not end when you get your cut. Always follow up with them to make sure they are happy with how things went. Discuss with them in further detail how you can be an asset to each other and continue to build your working relationship long after the deal is closed.
The Last Step: Closing the Deal
Once you have done all of the work to find the property, work with the seller, and identify an interested buyer, you are finally at the last step: closing the deal. To do this, you will assign the contract you made with the seller at the beginning of this process. Once you assign the contract to the buyer, they will then be able to purchase the property. Once the buyer purchases the property, you will send the deposit to the title agency or attorney handling the closing. After everything is complete, you will get your wholesaler fee for connecting the buyer and seller.
This can all sound like a lot of information and may appear to be very overwhelming. Although a lot goes into this, there’s a reason people recommend wholesaling real estate for beginners. It is the most affordable way to get invaluable real estate experience when starting off in real estate. You will build skills, knowledge, and connection so quickly through wholesaling. To get started on your real estate investing journey, check out our website.
Joe Arias
Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors.
RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.
Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping, R stands for Rentals and Retirement, and Wholesaling Real Estate.
“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone, I am CERO generation, usually people say, I am first or second generation but I was the one that crossed the border, no language, no friends, no family, no money, nothing, nada… If I can do it, anyone can.”
From a young latino immigrant to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.
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The Myth:“You need money to invest in real estate.” The Truth: Find a good real estate deal, and the money will find you. Ask any experienced investor and they will tell you that a lack of funds is never an issue; lack of good deals is! If you can negotiate a good price on a house, you will find plenty of partners or lenders willing to put up the money.
Myth 2: No Time
The Myth:“I’ve got a job, a spouse, kids, and little spare time to invest.” The Truth: Turn off your television and you’ll have all the time you need! People spend an average three hours per day in front of the tube. They spend even more time on weekends. Want to do something fun this Saturday? Load the kids in the mini-van and drive around looking for ugly houses. Make a game out of it giving a dollar to each of your kids that spots an ugly house. Tell them that each ugly house you buy means enough money to take them all to Disneyland.
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Myth 3: Everyone Says This Stuff Doesn’t Work
The Myth: “Those late night infomercials and reality shows don’t work” The Truth: You can convince yourself that anything won’t work. Henry Ford once said, “Whether you think you can or think you can’t, you are always right.” If you listen to the critics, the naysayers, and other pessimists, you’ll convince yourself it doesn’t work. Most people that criticize money-making ideas need to do so for their own ego. After all, if it were true, what’s their excuse for not being successful? Make a point of not taking financial advice from anyone who makes less than you do.
Myth 4: Too Much Competition
The Myth: “There’s too many people trying to buy houses to find a deal.” The Truth: There are more than enough deals to make everyone successful. At any given time there are hundreds of distressed properties for sale in your market for each investor looking for them. Besides, a majority of people who say they are investors are just sitting on the sidelines waiting for something to fall in their lap. Don’t be one of them – go out and make deals happen! You will be successful if you spend your time finding deals and not worrying about other people.
Myth 5: It Doesn’t Work in My Market
The Myth:“It doesn’t work in my city.” The Truth: It works in EVERY market. True, it may work differently in some markets than others, but there are investors making money in every city, every day of the week. You have to learn your market – the rents, the trends, the local customs, the lenders, the title companies, etc. Then, learn the techniques and adapt them to your market. If you are in a hot market, you can buy and sell properties faster and ride inflation. If you are in a down market, you can find lots of bargains. Regardless, in every market, there are people with financial problems that are forced to sell their homes.
Myth 6: The Recession is Coming
The Myth: “Although the market is good right now, I hear that we are heading for another recession.” The Truth: There are always naysayers predicting market crashes. You need to ignore these pundits. Besides, there are always deals regardless which way the market is heading. If the market changes, change your strategy. For example, if the market falls, sell cheaper or with attractive terms. When Dell wants to move more computers, they drop the price. When GM wants to move cars, they offer no-interest financing. Be creative and do things that make your houses sell or rent faster. If prices are falling, buy way below market and sell just below market. If rental vacancies go up, offer free cable or WiFi. After all, when everyone else is “dooming and glooming,” it only clears out the competition.
Myth 7: Realtors Won’t Cooperate With Me
The Myth:“Real estate agents don’t cooperate with investors.” The Truth: The right agent can be your best friend and #1 source of business. I have one agent that brought me six deals in the past year. She knows exactly what I want and only calls me when there’s a deal. You need to educate a few agents and let them know exactly what you want. Few agents have repeat customers. In contrast, you have to make them understand that you will be giving them business over and over again.
Myth 8: I Have Bad Credit
The Myth: “I need good credit to buy houses.” The Truth: Good credit helps, but you don’t need it to make money in real estate. Lease/options, owner-financing, flipping properties, assignments, and other creative techniques will allow you to buy real estate without credit. Besides, you can always use a partner who has good credit. You can also borrow “hard money” without having good credit. In the interim, you can work on fixing your bad credit so you can use it as an asset in the future.
Myth 9: I Might Lose Money
The Myth:“Real estate is risky. I could lose everything.” The Truth: Real estate is one of the safest investments you can make! The stock market is beyond your control. Savings, CDs, money market funds won’t earn you enough money to make it worthwhile. You have to be willing to take a calculated risk to make money. The more you educate yourself, the less risky real estate becomes. However, don’t think you need to know everything before taking action.
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Myth 10: I Don’t Know What To Do First
The Myth:“I need to learn more before I start.” The Truth: If you’re reading this, you probably know more than enough to get started in real estate. After all, you’ll never learn everything. Knowledge is an ongoing learning process, not a result. Read books, attend seminars, and take action. Then, learn some more and take a lot more action. If you are really impatient, enlist the help of others.
Henry Ford said, “Why should I clutter my mind with general information when I have men around me who can supply any knowledge I need?” Henry Ford was a smart man because he realized that he didn’t need to know it all if he could consult with others that did. And this was before Google!
Now go out there and start submitting offers. Remember, you won’t catch any fish if you don’t put your hook in the water.
Lloyd Segal
After practicing law for over 30 years (specializing in real estate litigation), Lloyd Segal assumed the leadership of the Los Angeles County Real Estate Investors Association in 2017 from the late Phyllis Rockower. Lloyd is an author, real estate investor, mentor, public speaker, and landlord. He is the also the author of four real estate reference books, including “Stop Foreclosure in California” (Nolo Press), “Stop Foreclosure Now” (American Management Association), “Foreclosure Investing” (Regency Books), and “Flipping Houses” (Regency Books). The Los Angeles County Real Estate Investors Association is the oldest (1996) and largest investor group in California. In his role as President, Lloyd is busy expanding LAC-REIA’s events and programs for members and real estate investors. For more information, visit www.LARealEstateInvestors.com
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Real estate investing is an extremely powerful tool for building short-term and generational wealth. This includes offering a route to financial freedom while delivering passive income. However, navigating this path successfully requires awareness of common pitfalls that can thwart even the most well-intentioned investors. With a diverse portfolio that spans from $40,000 single-family homes to million-dollar properties, I’ve gleaned valuable insights on effective strategies and mistakes to avoid. Here’s a detailed look at the smart ways to invest in real estate and the top five mistakes people often make, enriched with real-life stories from my experience and some pro tips.
1. Failing to Do Thorough Market Research
What to Do: Conduct comprehensive market research before investing in areas, especially in locations that you do not know well. Have you seen the Homes.com commercials? They joke about going undercover and doing the research for you. However, this is what you need to do especially for out-of-the-area markets. You need to understand local economic drivers, population growth trends, employment rates, and housing demand.
Is there a new casino going into the area or is a factory closing? Both can have a significant impact on the local economy and the housing market.
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Use resources like:
Local Government Websites: Access economic development reports and city planning documents. It is mainly free and open to the public. You just need to know where to look.
Real Estate Portals: Sites like Zillow, Homes.com, Redfin,PropertyShark and Realtor.com offer market trends and property value data.
Market Analysis Reports: Industry reports from companies like JLL, CBRE, or local real estate associations provide in-depth market insights.
**Mistake to Avoid:** Investors often buy properties that are cheaper but in areas with declining populations or economic instability, leading to poor returns and high vacancy rates.
Story: Early in my career, we bought a portfolio of “cheaper properties” compared to where I live in a small midwest town with the expectation of significant growth happening in the area. However, the city delayed the major growth project in the area. While other areas of the country grew 10 to 50% before or during COVID this area stayed flat. This taught me the importance of thorough market research.
2. Overleveraging and Poor Financial Planning
What to Do: Maintain a conservative debt-to-equity ratio and have substantial cash reserves. This includes:
Budgeting for Contingencies or Whoops factor: Set aside funds for unexpected repairs or vacancies.
Creating a Financial Plan: Include investment goals, cash flow projections, and exit strategies. Make sure to find out the cost of a refresh in your area.
Mistake: Overleveraging can lead to financial ruin if the market shifts or unexpected expenses arise, leaving you unable to service debt or cover costs.
Story: The real estate market will not go up forever. I learned this lesson the hard way during the 2008-2010 housing market crash. Instead of taking profits along the way by selling off some of our properties. We were caught in the downturn. We lost a few properties and had to sell others at a loss. This experience underscored the necessity of maintaining a healthy balance between debt and equity.
Pro Tip: I typically have my client’s people set aside or keep a reserve of 1% of the purchase price or 10% of the rehab budget whichever is higher when fixing a property. You should also have 3 exit strategies and not just one for each of your properties.
3. Ignoring Property Management:
What to Do: Either manage properties efficiently yourself or hire a reputable property management company. Key responsibilities include:
– Tenant Screening: Conduct thorough background and credit checks. – Rent Collection: Implement a reliable system for on-time payments. – Maintenance: Regular inspections and prompt repairs to maintain property value.
Mistake: Poor management leads to high tenant turnover, property degradation, and loss of rental income.
Story: I have lots of my clients and students who have had bad experiences because of not doing proper screening on their tenants. The least of your concern is the tenant not paying rent for 6 to 9 months. One couple that I coach wanted to be nice to their tenant and listen to a local attorney who said, “The tenant would leave after a few notices.” It had already been several months of late rent and not paying in full when they engaged the attorney. Well six months later, they finally listened to me and got the eviction process started. The tenant fought it but did move out when the sheriff finally showed up to evict them. Sometimes we have to make a hard choice.
Pro Tip: Don’t be cheap and make sure to do background checks on your tenants.
4. Skimping on Due Diligence
What to Do: Perform your due diligence before purchasing and use professionals even if not required in your state. This includes:
– Property Inspections: Hire professional inspectors to check for structural issues, pest infestations, and compliance with safety regulations.
– Hire Attorney to Perform Legal Checks: Ensure there are no liens, easements, or zoning problems.
– Surveying: Verify property boundaries and land use restrictions.
Mistake: Failing to uncover these issues can result in costly legal battles, unexpected repair expenses, or inability to use the property as intended.
Story: This is one of the biggest things that my clients and students want to push back on in states where attorneys are not required to purchase a property. Do not be CHEAP as there are lots of horry stories. I would much rather pay an attorney $750 to $1,500 to do a closing than find an issue later the cost $20,000 to $100,000+ to fix or even worse an EPA issue. I was just talking with someone buying their own home that had asbestos only in their floor. Anything EPA related will most likely cost 25%+ more than you expected and take longer 30 to 90 days longer to fix than you planned. So, be prepared. The government does not move fast.
5. Underestimating Costs
What to Do: Accurately estimate all costs involved. This encompasses:
– Closing Costs:** Fees for legal services, title insurance, and loan origination.
– Renovation and Repairs:** Obtain detailed estimates from contractors.
– Ongoing Expenses:** Property taxes, insurance, utilities, and maintenance.
Mistake: Many first-time home buyers and investors focus solely on the purchase price, underestimating the total investment required, leading to cash flow issues. Most people are shocked by all of the closing costs on their first deal.
Story: On my first home, I did not review the HUD (Now, closing statement) before my closing but that is the time to see all of the expected costs on the closing of your home or property. I ended up paying an extremely high fee to my mortgage guy. My attorney caught it at the closing but it was too late to change it for the purchase.
Pro Tip: Make sure to review all of your fees on the documents you sign before closing. Make sure to have your professionals outline their fees upfront.
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**Conclusion**
Real estate investing is a powerful tool for building wealth and achieving financial independence, but it requires careful planning and informed decision-making. By avoiding these common mistakes and following strategic investment practices, you can enhance your chances of success and meet your financial objectives. For more insights, Pro Tips, and detailed guidance, visit [www.hughzaresky.com](http://www.hughzaresky.com), where I share my experiences and tips from decades of real estate investing.
Happy investing!
Hugh Zaretsky
Hugh Zaretsky, was an IT executive until his wake-up call came on 9/11. Realizing how short life can be, Hugh transitioned his career to become a real estate investor, international speaker, best-selling author, philanthropist, and advocate for empowering individuals. Hugh started investing in the precursor to Short-Term Rentals back in 2005. His expertise in cash-flowing properties (STR, SFH, and multi-family) has allowed him to successfully train over 12,500 real estate investors and entrepreneurs to complete profitable real estate transactions, launch businesses, or take them to the next level.
Hugh has been a certified real estate continuing education instructor in 4 different states. His latest book “The Launch Button” was an Amazon best seller in 4 categories including all of real estate. He recently spoke at the Humanity Summit in Portugal on the global issue of “Sustainable tourism (including STRs) and how to work with local communities”. His dedication to mentoring and coaching aspiring entrepreneurs makes Hugh a highly sought-after coach, trainer and speaker. Get ready to be inspired and gain invaluable insights from Hugh’s wealth of experience. To learn more about Hugh go to www.HughZaretsky.com
www.thelaunchbutton.net or buy direct on Amazon. – My book “The Launch Button” is an amazon best seller helping people find their passion or take their business to the next level.
“You have to change your mindset before you can change the size of your wallet.” – Hugh Z
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