I’m curious about who created the real estate strategy called wholesaling and when? It’s a wonderful concept that I’m looking forward to doing myself soon.
I have been working in Real Estate Business since 2018. I have invested in Dubai on a new Upcoming Project named " Property in Business Bay " and it has quickly achieved its objective to become Dubai 's central business hub, offering a range of top-class facilities and a rapid lifestyle. It is considered to be the home and industrial area with varied use.
Wholesaling is as old as time. And it is not unique to real estate. There are some specific characteristics for USA real estate. That would not change the answer to your question.
Real estate wholesaling is the process through which an individual, the ‘wholesaler,’ acquires a contract from the seller of the property and assigns that same contract to an end buyer. A wholesaler can make a profit by identifying properties being sold for under market value, making an agreement with the seller of the property, and assigning the purchase contract to another buyer. They earn revenue through a wholesaling fee that is attached to the transaction — often a percentage of the overall property cost.
With a very simple steps you can start real estate wholesaling & the steps are:
- Research your local market before getting started.
- Curate a buyers list for your area.
- Secure a financing source that works best for you.
- Begin searching for potential wholesaling properties.
- Decide whether to sell the contract or work on a double closing.