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In real estate investing, there are different strategies to begin with. However, it should be a process. Many of the wealth minded people would go to real estate events in a purpose of learning or taking action. It is actually a long and holistic process of taking action to become a real estate investor and and get more educated. Wholesaling real estate is a great starting point in terms of network and raising money.
Wholesaling real estate in Canada can be an effective way to start in real estate because of different reasons. The first reason why wholesaling real estate is effective is because there’s a high chance of building a network of investors to the point of getting to know most of them personally. If you think about it long term, the longer you have good relationships with your partners the amount of success would be good. In wholesaling, the great way to do is having the connections with old and new cash buyers. In this way, the real estate wholesaler would be able to provide value for the distressed homeowner and know how to analyze deals better based on the numbers and not on emotions. Raising capital is also another reason and an effective way to do real estate investing. The main task of being a wholesaler is through constant search for great deals out there in the off market getting the properties under contract. The fee is called the assignment fee. Basically, you get paid by searching the property and putting it in your inventory after signing the contract and sell the contract to an investor. It sounds easy but it is a lot of work and it’s not easy as it sounds. Many investors are doing this as a main strategy. The average assignment fee for wholesaling is 5000 per deal depending on the spread on the deal. However, this is a great way to make revenue in real estate and do it full time. I have seen people making more than 100000 doing wholesale because of a system and a great marketing strategy.
In real estate investing, it is important to have a great network of investors and be able to generate cash in any economic times, and wholesaling is a great and common way to do. Most investors started from wholesaling properties because it is a great opportunity of understanding the world of real estate investing. Real estate investing is all about creativity and patience. Success comes from being consistent and patient for great results.