belowmarkethousedeals.com

Wholesaleing is not as easy as some of the guru’s will have you believe…is anything?  I am a full time investor and I practice a number of different techniques for those looking to buy a home in Texas.  One of my favorite is wholesale investing.  What is wholesale investing?  It is a technique that where you find a distressed, pretty or ugly property with a criteria that usually mets a rehabbers criteria…usually 60% of ARV (After Repair Value or what I like to say…what will it sell for the day the repairs are done?!) -repairs. example you find a house that will sell for $160,000 in perfect condition on the market today.  You take $160,000 multiply 60% that gives you a starting figure of $96,000 then you have to subtract repairs..let’s say on this house $15,000 so your MAO (maximum allowable offer) is $81,000.  Why do I use the 60%-repairs formula?  Most rehabbers can get a hard money today for around 70-75%.  I like to be able to give them a 10% buffer for any surprises…let’s face it…there are always surprises…at least there are in my rehabs!  Now you have left yourself room to make $5-10,000.

Now you have the deal negotiated…what do you do?  Do you get a loan and buy it outright?  Nope…you simply put the property under contract and then you sell the contract to someone who wants to remodel…or rather rehab the home…some people call that flipping a house.  The term flip used to refer to wholesale..flipping a contract to a buyer.

Can you only sale a deal to another investor?  No, in fact you can sell a deal to anyone looking at getting a bargain deal and does not mind doing some repair work…the extent is up to them.

I will say to sell homes in Texas or anywhere is not the easiest..you will defiantly work a little more then 4 hours per week and 70% of your deals will most likely fall thru…that is why you need to deal in high volume.  Get some virtual assistants to do the marketing and farming for you.  This will free up your time immensly and allow you to do what makes you money..negotiating the deal.  We make the money on the buy not the sale.  If you are curious and want to learn more about this technique then contact me via my website www.belowmarkethousedeals.com and I will send you free of charge all the forms I use and step by step on how to do the deals.  Thanks and God bless

I am currently working on some deals that if you want to buy a home in Texas or wanting to do multiples, yes buy homes in Texas then you are going to want to keep an eye on my site www.belowmarkethousedeals.com or sign up for my mailing list

Joseph Irons