Introduction to Real Estate Wholesaling | BiggerPockets Podcast #91

Check out the show notes at www.BiggerPockets.com/show91
Getting your first few real estate deals can be exceptionally tough - which is why today we wanted to introduce you to an investor who is just wrapping up his first INCREDIBLE year as a wholesaler: Ben Grise.
During his first year, Ben earned more from wholesaling than most Americans earn from their jobs - all while working a separate full time job, getting married, and having a baby! If you find yourself stressed, overworked and unsure of how to fit everything into your life - this is a “can’t miss” episode!
Check out the show notes at www.BiggerPockets.com/show91
Connect with Ben at www.biggerpockets.com/users/Be... or on his website at www.BenBuysIndyHouses.com

[@graciahancock4809]

I think that it was good to hear Ben's story; makes it more real and achievable to know the lack of experience, then to learn of his plans, then to learn that he did so many deals within a 12- month period.

[@dillonnj45l.18]

video starts at like 8:30

[@bromeo22]

Thank you

[@morelwilliams7133]

I like BP, but MAN. Ha, I always have to skip the 6-10min into the vid, to get what I came for!

[@localone1597]

Morel Williams, me too! Always skip ahead

[@jackfromboston69]

Llots of good info even if you WERE nervous! Thank you!!

[@andrewmiley4492]

Thank you great video. It helped my understanding of the concept. How would this work for single tenant retail locations in commercial property?

[@charlescarter9508]

I love the detail of your questions! You break the deal down to the most basic level. Thank you!

[@markjones5757]

I've never had to do all that extra overboard explaining to a seller. They normally don't care where the money is coming from nor do they care who is making what. As long as they're getting paid what was agreed is all most sellers care about.

[@th86stone]

thx for YT posting, how do you find BUYERS. I've got most of it except buyer

[@marlync8360]

The best informational video. Thank you so much. I will continue watching.

[@biggerpockets]

+Marlyn C Thanks! We are very happy to help :)

[@michaelmallon8298]

Once you make the agreement with the seller and want to draft the contract... where should the contract come from? What do those details look like? Is it drafted strictly by a lawyer? Or can it be done by the seller?

[@mysammmy]

Great information!!!

[@failforwardfast8609]

Great video BTW

[@sublett30]

Great Info

[@failforwardfast8609]

Thank you

[@alwaysfwd]

Great video

[@Bosterjohnjohn]

Hi guys great podcasts just had a question what if I find a motivated seller and there already working with a real estate agent what should I do ??

[@coachcomebackPJ]

that is actually a really good question. Does happen. And there IS a way around it. Message me or add me on skype and I can share what I have done as well as others to get past this. my skype id is:here.to.inspire

[@cjbrown6206]

absolutely up writing yellow letters now, had a few deals fall through alto of angry responses too later 😄 but I will never give up on this blessing call wholesaling. @steve

[@RealKingKhang]

Cj Brown Hope you're still in the game. Here is another site beside biggerpockets that you might like. Biggerpockets is awesome. Facebook: Wholesaling House Full Time. Good Luck 🍀👍

[@InfamousKiddXD]

How do you get the contract And Where ? How do you sign the paper where ? do you need a Lawyer present or at all? Where can I download the purchase agreement or contract ? Where do you pay earnest money ?how ? What is escrow? These are the questions for truly new beginners that need answers like me :) I was driving for dollars today and found four vacant properties one which was unlocked so I went in I shouldn’t have but I saw that it was 1800 sqft 3 bed 2 bath Corner lot But it had a note on the door “ inspection and abatement warrant” looked up the owner number isn’t working Says he’s 80 years old Maybe he passed so I checked the obituary but couldn’t find records ? WhT now ? Help:)

[@Nbrock90]

I will say the same thing i say to any other person who wants to begin wholesaling this is a area driven job. Big places such as New York wholesaling doesn't work because the market is oversaturated with real estate investors. This isn't to deter anyone from wholesaling, simply bringing to light doing your homework before you start wholesaling in your local area.

[@failforwardfast8609]

Trust me folks anybody can build rapport with complete strangers. Don't be discouraged and don't allow any thoughts to hold you back from learning to do anything.

[@cjbrown6206]

awesome im going on 30 getting into wholesaling in central texas

[@biggerpockets]

+Cj Brown That's great! Make sure to keep us updated on BiggerPockets.

[@bblin504]

Does the buyer see what the wholesaler is making in the deal without a double closing?

[@youngprofessor]

In some states, it is illegal to put a house under contract for the express purpose of assigning the deal. If there are ever any questions from the authorities, you would have to prove that you 1) contracted with intent to take title. 2) Actually have the ability (ie legitimate proof of funds) to take title. Ohio is one such state.

[@a1piece]

youngprofessor thank Goddess Illinois isn’t one of those states

[@markjones5757]

youngprofessor a wholesale deal can be done legally in any State. Some attorneys and real estate agents tell people that it is illegal because they simply just don't know.

[@takeiyarodriguez3780]

Well I’m interested in wholesaling and I’m from Ohio. Im looking to start my own business and have a title company of interest to assist with the paperwork. I’m taking any advice anyone has to offer

[@shakurpeace8020]

Those states are only Oklahoma and Illinois look it up guys do your own research we gotta stop being lazy look it up find out stop being afraid

[@th86stone]

thx for YT posting

[@daronjames4096]

U can tell when Brandon and josh msg each other.. i swear josh just pointed at his monitor like u would if u texted someone in the same room😂😂

[@matthewburkholder1076]

It would take this guy 15 years to read a book cover to cover😂😮‍💨

[@shakurpeace8020]

I don't think it's unethical to say " I buy houses because we know it's to get the persons attention as long as you take care of thier problem properly and make sure they get a good deal as well it's fine.

[@kreamykream9121]

he was so nervous and fumbled over a lot of words ha!

[@kreamykream9121]

Hard to watch...lmao

[@markjones5757]

Absolutely not unethical in any type of way to say we buy houses.

[@TucsonExtendedStay]

#El Presidente My partner and I have $4000. We are looking to wholesale to begin building our portfolio's. Is that enough cash? Do you have a few suggestions on the most efficient way of pinning down 1-2 buyers looking for properties to flip/rent, etc.? What formal training, if any, is needed if your background is completely different from this field? Thanks!! -Justin @Kay Wil

[@TucsonExtendedStay]

#Jack Sarcia The best informational video. Thank you so much. I will continue watching. @BiggerPockets

[@rsj9701]

Rocky interview.. lacked flow --

[@RasWendemPeterson]

My partner and I have $4000. We are looking to wholesale to begin building our portfolio's. Is that enough cash? Do you have a few suggestions on the most efficient way of pinning down 1-2 buyers looking for properties to flip/rent, etc.? What formal training, if any, is needed if your background is completely different from this field? Thanks!! -Justin

[@enriedavis8118]

Justin, I am actively involved in wholesaling. Reach out to me and I can help you get going

[@biggerpockets]

+Justin .Peterson Hey Justin! Here are some articles that might help you out - www.biggerpockets.com/renewsblog/2016/04/04/8-killer-resources-savvy-low-budget-wholesalers-2/ www.biggerpockets.com/renewsblog/2016/03/31/learn-mistakes-attempt-wholesale-deal/ www.biggerpockets.com/renewsblog/2016/02/19/truth-about-wholesaling/ www.biggerpockets.com/renewsblog/2016/02/05/5-inarguable-truths-wholesaling/ www.biggerpockets.com/renewsblog/2016/01/13/wholesaling7-paths-instead/ Now, I hope this list shows you both the PROS and CONS of wholesaling. I would definitely connect with some wholesalers in your local area as well!

[@cotyclifton4864]

+Enrie Davis I'm highly interested give me a call at 708 803 0736

[@Kervensd]

+Enrie Davis can i get you contact information as well

[@enriedavis8118]

+Kervensd You can email me at [e-mail]. We can set up a time to speak.

[@cjbrown6206]

alot of angry responses to letters (direct mail) lol

[@andyz2747]

Wasting too much time talking BS and not going the point not good

[@dlangley012]

You all take forever to get to the point. Way too much time wasted cloning around.

[@cody6469]

Is it ethical to say "I buy houses" when you are only wholesaling? In my mind, I buy houses or We buy Houses, these are umbrella phrases. Or a tool belt with tools, and each tool that you have you can help with each individual situation. Under that umbrella or each tool is a different ways to invest/help, with or without your own money. I think that the seller needs to know what your business is, as all say Honesty is the best policy, to be up front with them.

[@briddenattech]

Saying 'we buy houses' isn't a lie at all, however, I do see something wrong with 'I buy houses'. Even if you do occasionally buy a house. It isn't a 'lie' but it is still being misleading/dishonest.

[@kreamykream9121]

Well if you're a full time wholesaler you'll eventually use transactional funding or OPM, in that case you actually are 'buying' the property.

[@Speaksthetruth100]

Too, too much BS talking! Not enough real estate education.

[@Jreddygo]

Blah blah blah.....Get to the point man, people on here actually want to learn not here this guys life’s story...👎🏽