Want to quit your job, or start a side business that earns you extra income?
Follow these 5 simple steps to be a successful flipper no matter where you are in your journey of life. You can be a teenager, in your 70s, or anywhere in between. Wholesaling is the perfect option for everyone!
Step 1:
Choose a market and learn it well. The easiest way to start is in your hometown, where you are most familiar. But, if you live in an expensive area (like California) or a non-disclosure state (like Texas), you may want to consider wholesaling virtually. That allows you to work in any market from the comfort of your own home.
Step 2:
Find leads every day! Be consistent with this, because if you don’t have leads, there is no way to continue with the rest of the steps. There are dozens of ways to find leads, including driving for dollars, cold calling, bird dogs, and door knocking.
Step 3:
Learn how to calculate After Repair Value (ARV), so you can make competitive offers. ARV is what a house will sell for after it’s fixed up. You find this by looking at local comps in the area.
Step 4:
Make Offers. Make Offers. Make Offers! The more offers you make, the more deals you do. Period. Being successful in wholesaling isn’t magic. You just have to be willing to put yourself out there. It sometimes takes 100 offers to get one deal, so be persistent.
Step 5:
The fifth (and final) step is flipping the house using an assignment contract. You need to have the correct forms and contracts to do this legally.
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