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Updated about 7 years ago on . Most recent reply
How many entrance strategies should i know for wholesaling?
if i were to wholesale, these are my different options to get the property under contract.
Cash deal- big discount on price
Owner Financing- they need finance the equity and i pay off whatever mortgage they have left. They do this if they dont need the cash proceeds right away, and they make money off of the interest.
Subject to- they have little to no equity. they deed me the property but the note stays in their name. i lease the property out or fix and flip it
Lease Option- i sublet the property and sell it through lessees.
Any other strategies? and are all those accurate?
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@Steve Vaughan I may be wrong but I think lease options in TExas are illegal that over a certain period of time.
although fine minds think alike.. I have been doing the A B C in my purchase contracts for longer than I can remember.. starting in the late 70s .
A Cash
B cash and seller finance
C cash and 3rd party loan.
D Sub too.. but for me I would not buy sub too unless it had substantial equity I always wanted room in the deal no matter how I bought it.. never made much sense to me watching people pay full retail sub too.. margins just too thin.. and I did not have a burning desire to have rentals that made 100 a month LOL..
- Jay Hinrichs
- Podcast Guest on Show #222
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