Wholesale Real Estate Canada
Quick Bucks with Wholesaling Real Estate in Canada
Wholesale Real Estate Canada,A Great Strategy for Real Estate Rookies.If you are a real estate newbie investor, say hello to your new favorite strategy! We'll refer to it as wholesaling, but you may also hear people refer to it as quick-turning, assigning the contract, or flipping. Why will it be your favorite strategy? Easy. Because you need
Wholesale Real Estate Canada does not require much cash but Having proper education,mentoring and a great connection with local REI club can make you a fortune.
- No money down
- No repairs
- No credit
- No risk
- No tenants
- No rehab
- No application
- No closing
- Get paid without owning Real Estate
Wholesale Real Estate Canada is a great way to get started in real estate. Keep in mind that you're getting paid for doing something very important: finding good deals for others. You can help people who rehab property, people who buy and hold property, and people who rent out property. All of these people will pay you to find good deals for them.
Wholesale Real Estate Canada works with small houses, large houses, commercial property, raw land--literally every type of property. Your job is simple: put buyers and sellers together. You play the part of the middleman, the matchmaker. Below is an example to show you the simplicity of this strategy.
Example of a Wholesale Real Estate Canada
Let's say you find a property worth $300,000, and you can purchase it from the seller for $230,000. You have 90 days to close, contingent upon your inspection (which gives you a way out of the deal if necessary). You run an ad online and in the paper that says, "Three-bedroom, two-bath house on Canada Avenue. Make an offer. Must sell."
Don't mention a selling price in your ad. In negotiation, the first person to mention a number loses. In addition to the ad, send emails and flyers to all of the potential buyers you know. You can also call real estate agents in the area and say, "I've got to move this house quickly. Do you have any potential buyers?"
From your marketing efforts, a buyer (it could be an investor or an owner occupant) agrees to buy the property from you for $240,000. At $240,000, the buyer is getting a good deal. And that works for you, as you are paying the seller $230,000. It's a win/win/win. The seller sold the house, the end buyer got a good deal, and you pocketed the $10,000difference. Consider it a finder's fee or assignment fees.You simply become money magnet.
The Advantages of Wholesale Real Estate Canada
Many new investors need capital to get started. If this is you, get your cash flow going by wholesaling properties before trying other things. Once you do a couple wholesale deals, you can try other strategies such as rehabbing, lease options, or landlording. All you will have invested is your time.
The following are some advantages of Wholesale Real Estate Canada
* You don't need any money or credit.
* You have no tenants to deal with.
* You don't need to get into rehab work.
* You can wholesale any kind of property.
* You have no liability if you write your contracts properly, and use the appropriate contingency clauses.
* Your profit can range from $5,000 to $15,000 per house!
* The profits from wholesaling can fund your other real estate investments and help you start becoming profitable in real estate very quickly.
The Disadvantages of Wholesale Real Estate Canada
The following are some disadvantages of wholesaling properties:
* There is no residual income.
* You won't build up long-term wealth with these properties.
* You have to pay taxes on your profit because they are cash transactions.
Wholesaling is a good way to get started in real estate investing. And as you can see, the advantages of wholesaling far outweigh the disadvantages. If you are a real estate rookie, we encourage you to give it a try. You'll probably find wholesaling to be $5,000, $10,000, or $15,000 of the quickest bucks you've ever made!
World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeships which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. To find out more, please go to www.WorldWealthBuilders.com/live.html
The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case.
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Navtaj Chandhoke is a veteran Canadian Real Estate investor, Master Coach/Mentor/Speaker & Canadian hard money lender . Join now Canadian REI Club membership to attend upcoming No $$ Down Canadian Real Estate Seminar LIVE in Canada and become next Canadian Real Estate Apprentice
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