I was asked a basic, but very important question today... “Tom, I don’t understand what you mean by ‘wholesaling’. How exactly is it that you make money doing this?” An excellent question! Let me explain the basics in a nutshell. Here’s how it works: 1. I market for motivated sellers looking to sell their property. [...]
Contract assignment is the easiest way to wholesale. The days of “bird dogging” are long gone, you cannot receive a “finder’s fee” for bringing a buyer to the table so your options are now assignment contracts, double close or option contracts. When you have found that seller with equity in their property (I know, I [...]
Arizona real estate investors are feeling the squeeze in the Greater Phoenix market. “Distressed” inventory is in shorter supply. Prices for trustee sale properties, bank-owned REOs and wholesale properties are rising. Deals are getting harder to find. Why? Banks are putting the “Squeeze” on! No one has been more critical of the bank’s role in [...]
Sometimes it’s downright perplexing to understand what’s going on in the market. For the last several months we’ve been tracking price trends at the trustee sales (foreclosure auctions). The numbers confirm what we believed was happening – prices are going up, uP, UP! According to our analysis, as a percentage of “Estimated Market Value” that [...]