Great start to my Re career by using Whole sale stategies

[Stephen Long]

Hello Bp members, recently i have decided that i would jump start my Re career. Buy and hold was my initial strategy. Buy Properties for around 5k rehab them and eventually rent them to low income families. which is still A great idea , but is not the greatest plan of action for me to reach my Goals . One because my funds are limited considering i'm still A (house renter) and during a rehab I have  learned there is always unexpected expenses . Two  because i'm working full time and have two kids and A wife . Leaving me with no spare time for  major renovation.

For some reason i still belive buy and hold is great ,but it is not in my best interest. So I sat and figured what would be the best investment for me . while thinking my brother called me and mentioned he knows a guy that has a house for sale and is willing to do owner financing. which is great for me considering i'm renting my current house. My brother connects me with the   seller , we agree upon A upon  the sales price of $9500 . $4500 down and the seller will finance the remaining $5000 with out any interest. Which is also great , 

Now i'm thinking the seller is really awesome , he is willing to finance me $5000 big bucks and he is not interested in making any additional money off interest . Which seems kind of suspect to me , so i leave my trust with a settlement company . leaving $1500 in escrow to insure i was a motivated buyer. Weeks go past we communicate daily ,he soon figures out there is a lien on the property . That prolongs the closing process 3 additional weeks now i'm really skeptical about the seller now 

Weeks later with daily communication to insure the progress is moving forward. We finally set a closing date . The day before closing the selling sends me a email that states there is more information that needs filled out . That information that needed filled out was A assignment of a contract . which at the time didn't completely understand what it was ,so i requested a explanation . Comes to find out the seller was not the actually seller . He was A whole sale agent and just made $5000 off of me . Simply by finding a motivated seller . Insured the motivated seller they would buy their home for $3500 then making a legal contract with actual seller basically stating they would receive $3500 for their property within A certain amount of time. Then he found a buyer which was me and we agreed upon a sales prices of $9500. Made a buy sell Agreement and assigned all right to the contract over to me. There for making him self  5k easily .

Only at closing i figured out he made 5k off of me ,when i see at closing the sales price was only $3500. Inside i was upset but at the same time I learned A life time secret on how to make wealth. Now i know how all of those guys make money that have we-buy-houses signs though out the city  make money with out needing any capitol . If you figure you cant buy every house but if you can find A buyer for every house you can make a lot of money.

The business is called whole sale of real estate . Knowing that made me want to learn more about it, so research and reading is what i have been doing , Gathering all of the tools i need to be successful. Such as a good closing company, re agent , buyers and so forth. now my next step is to find motivated sellers and get them under contract. My goal is to have one property under contract within 30 days . Wish me luck If any one has any advise please feel free to contact me thanks in advance .