Practical guides on finding deals, finding buyers, and closing your first wholesale assignment.
Equitable interest in real estate is the right to obtain ownership of a property before you hold legal title. A wholesaler’s purchase contract creates it, and that contract position is what the wholesaler actually sells.
Cash for keys is a voluntary agreement that pays an occupant to move out by a set date instead of going through an eviction. For wholesalers, it turns an occupied house most buyers won’t touch into a vacant one they will.
Door knocking in real estate means visiting owners in person to ask whether they would consider selling. For wholesalers it works best as a targeted follow-up on a short list of motivated-seller leads, within local solicitation rules.
A real estate virtual assistant handles repeatable tasks like skip tracing, lead entry, cold calling and follow-up, so a wholesaler can spend more time with sellers. Here is what to delegate first, how to hire, and the calling rules that still apply.
The BRRRR method means buy, rehab, rent, refinance and repeat. When it works, the investor holds a rented property with little cash left in it, and the refinance rules decide whether it works.
A hard money loan is a short-term, asset-based loan from a private lender, secured by investment real estate. Investors use it to buy and renovate quickly, then repay by selling or refinancing, and pay for that speed with higher rates and points.
A proof of funds letter shows a seller or agent that the buyer has the cash or committed financing to close. For wholesalers, the honest way to provide one depends on whose money actually closes the deal.
Georgia is a nonjudicial foreclosure state, and with no delays a sale can happen roughly five months after a homeowner’s first missed payment. For investors, the key dates are the 120-day federal waiting period, the 30-day notice, four weeks of newspaper ads, and a first-Tuesday courthouse sale.
A lease option is a rental agreement paired with the right, but not the obligation, to buy the property at a set price within a set period. Investors use it to control property without a mortgage, often by leasing from an owner and subleasing to a tenant-buyer.
List stacking means combining several motivated-seller lists and prioritizing the owners who show up on more than one. An absentee owner who is also tax delinquent and has a code violation is a far better lead than any one of those signals alone.