I am soooooooo excited about the release of our new book, Wholesaling 101: 7 QUICK No Money Down Investing Strategies for Beginners, which will be available in stores and online later this summer. Our clients have been requesting this book for months now, and it is almost ready! We will forward details about our launch event very soon so stay tuned. Enjoy these FIRST free excerpts from the book!.
Excerpt from Wholesaling 101
Teamwork?!
“Getting rich is a team sport,” according to Trademark Properties founder and reality TV star, Richard Davis. The wealthiest people in the world did not do it alone. In the world of wholesaling properties, team work can be a win –win situation for everyone.
Co-brokering a deal with another wholesaler is a great way to effectively market deals to other investors. I know that you are thinking about your assignment fees, but consider this; if you team up with other wholesalers who can fulfill a request, you can bring twice as many deals each month. The purpose of co-brokering a wholesale deal is to market your properties through the strength of pro’s in the industry.
For example, let’s say you have a property under contract with an assignment fee of $5,000 and need to liquidate in 30 days. Wholesaler ‘B’ contacts you after viewing your post online and states s/he have a buyer for the property. If the buyer can close on the property within the terms of the contract, you and wholesaler ‘B’ can split the assignment fee 50/50. In addition, you gain another buyer to add to your growing buyers list.
Co-brokering can have a profound effect on your business. However, be careful not to get caught in daisy chains of numerous brokers who would like to eat away at your fees. As with all other transactions, if you decide to co-broker with any wholesaler, get it in writing. Always protect your interests with clear terms in a contract.
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Continued Prosperity,
Carol Sankar
RRC Property & Investment Group, LLC
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