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Re: Wholesaling
Re: Wholesaling -- russboy Post Reply Top of Thread Forum

Posted by: Scott Rister
01/10/2003, 18:29:54

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Russ,

Thanks for your reply and I'll answer your questions as they were asked:

Question: What skills are required to become a successful wholesaler?
Answer: Marketing, negotiation, and just flat out communication skills. See, the wholesaling biz is truly not about properties! Its all a people game.

Question: Am I required to have a minimum amount set aside to make the techniques work?
Answer: You always need earnest money to bind a contract, however that same $100 held in escrow years back with my attorney has closed hundreds of deals for me. It doesn't require you coming out with large amounts of capital to wholesale properties. You make money wholesaling by using your brain, and not your bank account.

Question: Do you teach in the course techniques to obtain financing?
Answer: NO!!! Wholesaling is about getting paid big bucks for finding the deals and effectively passing the deal of to others. It has absolutely nothing to do with acquiring financing to buy properties.

Question: Is there a legal/ethical way to wholesale properties without having cash?
Answer: Short answer on this one and that is most absolutely yes!

Question: Is there a way that I can use my local Realtor contracts?
Answer: Whatever floats your boat. In the game of wholesaling it still boils down to finding a truly great deal and having a ready source of quick closing buyers so you can get paid.

I hope that answers your questions. Make no doubt about it, wholesaling is a HIGHLY ethical and legal way to make quick and significant cash in real estate.

Sincerely,
Scott


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