Want to Wholesale Real Estate? Watch This First
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Real estate wholesaling is one of the most popular ways to get into real estate investing, but do I recommend it in 2024 and 2025? Here's my honest opinion about how to reach financial freedom through real estate investing, or if you should not wholesale real estate.
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Join me live on zoom for a free training on getting your first deal: https://offers.liliinvests.com/rei-webinar
Ahhh thanks Lilly!! For the video!😁😁
You are so welcome! Thanks for watching
What real estate agents are mad about is that wholesalers don’t disclose their intent to sellers. The wholesaler essentially has a contingency on finding an end-buyer but this contingency is not made transparent to the seller. Since wholesalers fail to locate an end buyer about 90% of the time, this is an essential fact that the seller should be made aware of before entering into the contract. Wholesalers actively use misleading language about “sometimes” (more like always) bringing in “partners” (basically some dude on their limited list), and the seller is unaware of what’s really happening. Failure to disclose that you are not the actual buyer and that escrow will only close if you find an end buyer is fraud. The double close is not a workaround because the invisible unstated contingency on finding an end buyer still exists. Wholesalers should just flip. Buy the property with your own cash, close escrow, then look for a new buyer and re-sell it at a profit. In that order.
That’s definitely a huge piece of it and a problem. I totally agree that disclosing to all parties involved is the best way to go. I’m not sure if that 90% failure rate is a real stat or a figure of speech, but backing out of deals is definitely an issue and big no no. Thanks for watching and sharing your thoughts
Hey Lili, right at the 11:42 mark you were really talking to me. I’m dead set on wholesaling, but for all of the reasons you mentioned on the path that you took. I’m looking at wholesaling to be my starting block into the real estate industry and build both capital and experience. Wholesaling is not my end goal. I’ve been watching your videos for about a month now and nobody breaks it down like you. You are very inspiring and thank you for all the information and knowledge you share. Wishing you continuous success!
I’m so glad to hear that! Be sure to come thru to this free training where I’ll break that path down more in-depth http://bit.ly/3Y5xmBI
Why isn’t the link letting me purchase the class?
Hey shoot me an email at lili@liliinvests.com
It’s fixed now, thanks for letting me know!
my girl ❤❤❤❤
i appreciate you!
Because of the timing of the video I thought you was about to talk about the updated law in Oklahoma. I was at Millionaire Possibly & the president of the MLS was the guess speaker & she was talking about the updated version about to go into effect Nov 1st.