Real estate investing can be a daunting industry to join. There are a lot of ideas out there about how to do it the right way, and just a few mistakes can lead to terrible credit and an empty savings account. Fortunately, the Wolff Couple is here to help you avoid those rookie mistakes. Brian and Lynette have more than 50 years combined experience in real estate investing, and their book of testimonials would make a encyclopedia look small! To help you get started, we are describing some of the best real investment strategies to use when you want to save your money and your credit. Check out part one of this series to learn about subject tos, lease options, and pre-foreclosures. Keep reading for part two, where we’ll cover a few more deals that can help you make a profit. Try one of the Wolff Couple’s high-quality investment training DVDs to learn all the best tips and tricks, or sign up for their next real estate workshop!
Wholesaling
What is wholesaling?
Wholesaling means you buy and sell homes in a very short period of time, often as a middleman between the seller and the final buyer. This can mean that you buy a house and sell it very quickly, or you get the property under contract and assign the contract to another buyer. You can assign the contract to another investor, for example, who plans to rehab the house. We’ll discuss rehabbing or “property flipping” as the next strategy.
Why choose wholesaling houses?
Wholesaling is a great deal for those new to real estate investing because you can get started without using a lot of your own money and you will learn a lot in the process. If you choose to assign contracts, you don’t need to take ownership of the house yourself. It’s also a real estate investment strategy that doesn’t require too much time, so you can keep your day job for some security and make deals part-time. Wholesaling also teaches you how to find great deals, and you can use the money you make from wholesaling to try other investment strategies.
Property Flipping
What is property flipping?
Property flipping, also known as rehabbing, is one of the more well-known real estate investment strategies, because there are plenty of “fix and flip” shows on TV. It may look easy, but it’s one of the riskier kinds of investments to make. You buy a property – preferably one that’s undervalued or only needs a little time or money to fix it up – and sell it at a higher price to make a profit. It’s a straightforward concept, and there are many ways to do it.
Why choose flipping?
Rehabbing is popular because it is one of the more lucrative real estate investment strategies. You can make serious money with property flipping if you make the right deals and know what you’re doing. Read about the eight biggest mistakes rehabbers make and check out the Wolff Couple’s video on six insider secrets of a rehab contractor to ensure you start your next project the right way!
Sweat Equity
What is sweat equity?
Sweat equity is when you contribute your time and skills to a project rather than money. In most cases, you form a partnership with an investor who has the cash you need who is willing to bankroll the project, and then you invest your hard work. You may be the boots on the ground that find the right property and close a great deal or you may be investing literal sweat if you work on the property’s repairs.
Why choose sweat equity?
Sweat equity is the ideal strategy for someone who wants to get into real estate investment without spending a lot of their own money. Even if you have the savings to fund your own project, you can spend less of it if you’re willing to contribute labor instead. This is an especially great option for an investor who learned how to make great deals from wholesaling or someone who has practical skills that could be useful for rehabbing a house.
No matter what your personal circumstances are, there is a real estate investment strategy that can work for you. Property flipping is a good option if you have the money to invest upfront, and if you don’t, wholesaling and sweat equity are excellent alternatives. Lease options, subject tos, and pre-foreclosure deals are also great ways to make money in real estate without endangering your credit or your savings account — read part one of this series to learn more about those strategies. If you’re still unsure of where to start or you want personalized property investment advice, contact the Wolff Couple! They have 15 years of industry experience teaching alongside Ron LeGrand and you can read the testimonials from successful real estate investors yourself. Take the first step today toward achieving your dreams — sign up for a real estate workshop with the Wolff Couple today!
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