Most millionaires have made their millions by investing in the real estate market. These millionaires might surely have had portfolio full of other investments but for many people the estate market has proven to be an absolute gold mine. Some of the shrewdest investors are in the real estate market because it has plenty of advantages right from tax benefits, opportunities to build equity, appreciation and also leverage.
Not get it wrong, the real estate market is really not a scheme to get rich quick and make millions overnight. If you do it well then the real estate market can actually prove to be an excellent way to make a lot of money. There are plenty of ways to make some serious money in the real estate industry and one of the finest ways available is wholesaling real estate.
FIRST THINGS FIRST : WHAT EXACTLY IS WHOLESALE REAL ESTATE?
Real estate wholesaling happens when the wholesaler in question contracts with a seller and later flips the property in question to a buyer. By doing this, the wholesaler is able to earn his commission, something which is called an ‘assignment fee’. This ‘assignment fee’ can be understood as the difference between the contract price with the seller and the purchase agreed upon with the buyer.
THE 7 STEPS INVOLVED IN WHOLESALING REAL ESTATE
Wholesaling real estate is actually a lot simpler than most what people imagine it to be and it more or less, consists of the following 7 steps.
STEP 1 :- Begin with finding a seller.
STEP 2 :- Figure out the ARV
STEP 3 :- Estimate the repair costs associated with the property
STEP 4 :- Get busy with negotiating the price
STEP 5 :- Sign on the dotted line which means signing on the purchase agreement.
STEP 6 :- Find the buyer
STEP 7 :- Close the deal
Wholesaling real estate is actually one of the best ways of achieving success in the real estate market and many real estate experts advice the same.
But why are experts and investors alike so fond of wholesaling real estate?
This is mainly because of the fact you don’t really need tones of money to get started with wholesaling real estate. In most cases, you will see that your ability to succeed in this business is mostly dependent on your ability to connect the dots and make some transactions happen.
Read on further to know what wholesaling is all about and then the different wholesaling real estate books that you can read to improve your understanding of the wholesaling real estate market. So read on further to know the best wholesaling real estate books that you should read to eventually become a pro at the entire process of wholesaling real estate. So without much further ado, let’s get straight into it.
THE BEST WHOLESALING REAL ESTATE BOOKS
1. THE REAL ESTATE WHOLESALE BIBLE by THAN MERRILL :- This book has been written by Than Merrill who happens to be a serial entrepreneur and an accomplished real estate investor. In THE REAL ESTATE WHOLESALE BIBLE, Than focuses all the mechanics and systems involved in wholesale transactions including and especially the marketing equation, something which is believed to be one of the most important factors in wholesaling deals.
This makes THE REAL ESTATE WHOLESALE BIBLE one of the ideal books for anyone who intends to become a dedicated student of the business and wants to learn the various ways to make money in this business without having to worry about the various problems and headaches associated with the same.
2. WHOLESALING REAL ESTATE : A BEGINNERS GUIDE :- This book has been written by Brent Driscoll, who has also been an author of quite a few real estate investing books. This particular book has been written by the author entirely from a beginner’s perspective. IN WHOELSALING REAL ESTATE :
A BEGINNERS GUIDE, Brent suggests that the wholesaling real estate strategy is actually one of the best ways to get started with real estate investing. Further the book goes into the various details related to finding the best deals. In this book, the writer also shares some of the best tips for evaluating properties, finding buyers and making deal offers before eventually ending on the best ways to close a deal.
3. HOW TO BECOME A WHOLESALE MILLIONAIRE :- The last but in no ways the least book on our list of the best wholesaling real estate books is HOW TO BECOME A WHOLESALE MILLIONAIRE written by Mark Lane who happens to be one of the best real estate investors and entrepreneurs of our times.
Mark Lane had to struggle a lot in his life to finally become financially free and now he is investing in things he loves doing and doesn’t mind sharing the tips of his success with others. In HOW TO BECOME A MILLIONAIRE, Mark offers a detailed step-by-step approach to succeeding in wholesaling real estate. This books is deemed as one of the best wholesaling real estate books out there because it offers all the basic as well as advanced calculations for analyzing real-estate properties.
The Bottom Line
There you have it, those were the top 3 wholesaling real estate books that you must read to get a better idea of the entire market and the processes that lie within. Once you have read the books, you will have a very good idea of the wholesaling real estate market and you will know just how to get started in this business.
Once you are done reading these top 3 wholesaling real estate books, you must begin with reading books on mindset because the ‘mindset’ is actually one of the most important components for investing as well as growing wealth. With the right mindset, you can achieve all of your goals and maybe someday you will be in a position to write one of the best wholesaling real estate books on your own and then share the secrets of your success with others.