Step One: Locate

Step One: Locate a good deal or a property you can get under contract well below its fair market value. In this step you will learn about many types of deals available to you such as: for-sale-by-owners (FSBOs), vacant or abandoned property, pre-foreclosures, auction sales, REOs, HUD, VA, FANNIE MAE, FREDDIE MAC, Short Sales and […]

Step Two: Analyze

The function of property analysis is to acquire “the proof” through research that your prospective deal would be a profitable venture. It is by investigation into a property that you obtain the information needed to make a determination of the probable FMV (fair market value). After a thorough analysis, you will have the answers to questions […]

Step Three: Contract

Step Three: Contract Once you are confident of the deal’s profit potential it is time to make a formal offer and draft the contract. The contract will let the sellers know that you are serious about buying their home and begin to provide direction for the closing. In Step Three you will also learn about […]

Step Four: Investor

Now you have a GLA deal tied up and under contract (at a minimum of 30% below fair market value and are ready to get it into the hands of local private real estate investors. In Step Four you will first learn how to look at your deal from the investor’s perspective. You will also […]

Step Five: Assignment

Assignment of Contract is signing over your contract directly to another buyer or private investor for a set fee or percentage of the deal. After you and your investor/buyer have agreed on that fee or assignment percentage you would then both sign the Assignment of Contract form (located in the Contracts, Forms and Examples section). […]

Step Six: Assignment Alternatives

Beyond wholesaling with assignment of contract there are many other ways to profit from a creative transaction. In some cases assignment of contract may not be feasible or perhaps not the most profitable choice for your GLA. You may put yourself in a better financial position by joint venturing with investors or investing in the […]

Step Seven: Closing

If you are undertaking a double escrow closing, a joint venture or your own personal investment you will need to have an overall understanding of the closing process. In Step Seven you will learn all about the closing paperwork including the deeds used in a real estate transaction, the title, title insurance, loan documents, types […]

Step Eight: Rehab

Many real estate projects may need a great deal of work to bring them up to a marketable condition. It is a rare thing to find a bargain property that is in perfect condition. Therefore, whether you are undertaking the work yourself or contracting it out to someone else you need a basic working knowledge […]

Step Nine: Resale

Now for the final step in the process, the resale of your property. There are really only two options here. You can either resale it on your own as a for-sale-by-owner (FSBO) or hire a real estate agent. Step Nine reviews the basic process and advantages for both. You will learn several for-sale-by-owner steps and […]