Question:
I still don’t fully understand the term “wholesaling.” Can you give me a few examples? On page 88B it shows a mild fix as a wholesale. I thought just flipping a house, “as is” was wholesaling.
-A.N.
Answer:
A mild fix wholesale, for example, is when you buy a property, instead of doing repairs, you trash out the house and clean it up so that its somewhat presentable. You have the lawns cut and the yards cleaned.
What you’re looking for is just to clean up the property and make it neat. No extensive rehab.
You’re in essence making it appealing for new investors so they don’t get scared off.
You would be surprised at what you can do with a little bit of touch up paint, gardening and clean up. Sometimes you can put that property back into the MLS as a “fixer” that needs TLC and sell it with multiple offers and can sometimes make almost as much profit as a full rehab.
The name of the game is to look at each property, individually, and try to figure out how many different Exit Strategies you can create to dump that property as fast as you can, for as much as you can. A mild fix wholesale is just one type of wholesale deal, it’s just taking wholesaling and slicing it to many different pieces.
-TA