Real Estate Wholesaling Made Simple

Real Estate Secrets: There is An Elephant in The Room

If it brought down the titanic, could it be taking you down as well?

Folks, I’m talking about the iceberg theory.

Just like icebergs, 20% of investing success is visible above the surface while the other 80% is hidden away. The problem is that every “guru” from here to Kansas is only teaching the 20% that’s visible.

I hate to say it, but without the other 80% in place there is not a real estate investing course in the world that is going to do you a bit of good.

Let me tell you a quick story to illustrate my point.

Imagine that your dream was to go to Australia to see the Opera House in Sydney. You have been dreaming about going to Australia your entire life. You’ve read all the books, you’ve get 70% of the streets memorized, you even have a small tattoo of Australia right above your belly button. Basically you know more about Australia than 99% of Australians do.

The time has finally arrived for you to travel to this far off place you have been dreaming of your entire life then it hits you…..

You find out that you have to fly there. You have never considered that you could not drive there. Through all of your research, your time spent gazing at the Opera House, and reading about the Aboriginal tribes, you failed to see that you would actually have to get on a plain and fly there. The problem is that your petrified of planes, in fact there is no amount of money in the world could get you to set foot on a plane.

Right now real estate “Guru’s” all across America are teaching you about Australia when what you really need is to overcome your fear of planes.

In the next couple of weeks I will be giving my “Fear of flying guide” to everyone who has purchased my Ultimate Investor System. I have been carefully studying the success of “Students who do vs. Students who don’t” and I can tell you right now there is NO DIFFERENCE in the amount of real estate knowledge….

Feel free to check out The Ultimate Investor System at www.UltimateInvestorSystem.com and I will send you my “Fear of flying guide” once I have put the finishing touches on it. If you get your real estate knowledge between now and then, I think you will be ready to set the world on fire.

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Eric Medemar is a expert on Grand Rapids Real Estate and Grand Rapids Foreclosures you can get in touch with him via his website TheForeclosuresMan.com

You can get his FREE Real Estate Secrets Newsletter at his website www.FreeInvestingNewsletters.com

Real estate Secrets: Contingency Success

I am sure you have heard of a contingency clause in a real estate contract. Contingency clauses are basically clauses that say “If that happens then this can happen” some common contingency clauses include.

Offer contingent on buyer obtaining financing
Offer contingent on the sale of the home at 1111 Maple Valley
Offer contingent on buyer approval of inspections

Those are examples of the ways that contingencies are used in real estate contracts. But, did you know that contingencies could be holding you back from experiencing true success both in life and as a real estate investor?

Our economic conditions have resulted in many of us using contingencies to unknowingly limit ourselves in many areas of our lives. The main differences between the two are that real estate contingencies have “Real world” constraints while the contingencies that we place on ourselves have no basis in the real world.

Let’s look at some examples of our life contingencies:

My happiness is contingent upon how much money I make
My happiness is contingent upon whether I have a job or not
My real estate success is contingent on whether or not I can obtain a loan.
My real estate success is contingent on how many courses I can afford to buy

Do you see the difference? In real estate contingencies one outcome is absolutely necessary in order to achieve the other. In our life contingencies we set up 2 completely unrelated things and make them contingent on each other. Your happiness and your salary are not mutually exclusive ideals. You can be happy without a dime to your name. You can experience real estate success without getting a loan.

The best way to counteract this completely absurd way of thinking is to ask yourself “Could I ever have X without Y happening?”

Let’s plug in some examples:

Could I ever have happiness without making $100,000? Of course
Could I really afford a house if I didn’t sell my own? Of course not this is a real world constraint.
Could I ever succeed as an investor without good credit? Of course there are a million ways to succeed without getting a loan.

To your success,
Eric Medemar
Grand Rapids Real Estate Specialist
Real Estate Secrets Author
Grand Rapids Homes

Real Estate Secrets: Free Investing Seminars #8
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Real Estate Investing: Crashing Market Strategies Explained
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Is Now A Good Time To Get Into Real Estate Wholesaling?

It seems like everyday I get at least 5 people asking me this perplexing but very simple to answer question. My answer is always the same. Of course right now is a good time to start wholesaling!

No I don’t say any of this to sell another investing course. If I thought wholesaling was stupid I would just make a new course on a better strategy. Anyway, back to my point

Yes our economy is in the gutter.
Yes our housing market sucks
Yes investor all over America are losing their a$$es
Yes people are running scared.

All of those conditions make it the perfect time to wholesale real estate. Why?

Think about it like this:

Example #1

In a good real estate market home A is worth 100k.
Wholesalers would try to buy at 70k or below.
That is based on buying homes at 70% of current market value.

In a bad market home A is worth 80K
Wholesalers would then need to buy at 70% or less of 80K $56,000
That is based on buying homes at 70% of current market value

70% of a homes current value is still going to be a great deal even if the market completely has bottomed out. Because as a wholesaler you are looking to buy at 70% of the CURRENT market value.

Investors and retail buyers still love to sweep up deals and 70% of current prices, because 70% is still a great deal. Do you follow?

Many rookies mistakenly believe that since homes are selling for 30% less this year that somehow there are just too many good deals already and wholesalers aren’t needed. Nothing could be further from the truth.

Wholesalers still need to put homes under contract using the exact same formulas as before except we need to be careful to adjust our offers to CURRENT market value and not the value that COMPs Are showing.

Anyway I hope that helps.

Lastly, we are getting closer to giving away a free house at our house raffle, don’t miss your chance

Be sure to either leave a comment or subscribe to my blog. On March 1st I will be giving one lucky reader a Free Real Estate Investing Course. Hopefully you will have already bought the course and in that case I will just give your money back.

Eric Medemar
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For some strange reason people are always wondering what kind of money they can make wholesaling real estate. Here are the basic factors that will determine how much you can make wholesaling.

The price of the home- Typically higher priced homes will have more room for profit then lower priced homes. Example: if you can find a home for 50% FMV (Fair market value) and sell the home for 70% FMV then you would have a 20% spread. 20% of $100k is far more than 20% of 20k.

The motivation of the seller-With all things being held equal, the lower the price that you can put the home under contract for, the greater your profit potential will be. Example: If you can buy the home for 50% FMV and you have buyers that are willing to buy homes at 70% FMV, your profit will be far greater than if you put the home under contract at 60% FMV.

The motivation of the buyer- Owner occupant buyers will typically pay far more for a home than another real estate investor. Owner occupant buyers are willing to pay more simply because they are looking for a home to have as their principal residence rather than as an investment property.

I have personally dealt with different variations of all of the above. When conditions have been have been perfect, meaning I had a very motivated seller and a very motivated buyer I have made up to $28,000 on a single transaction without the need for cash or credit. That is one of the reasons why I decided to become a full time real estate wholesaler.

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Thank you for stopping by my Beginners Guide to Investing Blog

If you pay close attention to the way we treat learning in our society, you will quickly realize that after our formal education is complete, many of us consider our learning to be “done”. Having said that I have a recommendation to all high school seniors and college graduates across the U.S, KEEP AWAY FROM THE CAP AND GOWN. All formal education seems to end with the cap and gown, and all learning seems to end with the formal education, therefore stay away from the cap and gown and you will stay away from the end of formal education.

Once your formal education is complete, the fun learning should begin. Now is the time to start learning about the things in life that truly interest you. Move over Pythagorean theorem, Pi, and amoeba dissection. Bring on the self discovery, new hobbies, and self improvement.

If you think learning is boring try spending an afternoon with a 2-5 year old. Listen to the questions, watch their mind working, or watch as they discover something new around every corner. Far too soon these human sponges will be well on their way to disliking learning just like you. Once our school system gets their grimy little mits on the little learning sponges that we call children, thing go down hill quick.

Once our children enter school learning becomes a forced activity and all creativity involved in the learning process is left for art class once a week. Now when our little learning sponges aren’t interested in learning about a particular subject, at a particular time, they are labeled ADD, a disruption in class, or slow. It is not long before their little learning sponge minds start creating the child logic short cuts like.

1. I used to learn without getting in trouble..

2. Now I get into trouble if I don’t learn at a particular pace.

3. When I get into trouble I don’t feel loved.

4. When I don’t feel loved it makes me sad.

5. So maybe if I stop learning, I can’t get into trouble for not learning fast enough, because after all this learning stuff seems to lead to pain every time. (Sure we get the occasional good job when we do something right, but when we do something wrong the whole world seems to end).

Having said that, is it any wonder why so many of us stop learning once our formal education ends?

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Over the weekend my wife and I went to see one of those crazy hypnotism comedy shows. You know the shows where they get like 20 people to come up on the stage and make fools of themselves while they are hypnotized.

One of my favorite tricks of the evening was when the hypnotist convinced this 300 lb Hulk looking dude that he could not lift his left foot off ground. Here was this man, who on an average day could probably squat 600 or 700 lbs, but when hypnotized he could not life his foot no matter how hard he tried. His face was beat red, he was sweating buckets, you could clearly see that he was trying with all his mite but that foot would not move.

Why couldn’t this massive muscular dude move his foot? Experts will tell you that when you are under hypnosis the hypnotist is speaking directly with your subconscious. Without your conscious mind making all of the decisions about what you can and cannot do, your subconscious mind is much more open to suggestion. This 300 lb guy could not move his foot simply because he didn’t think that he could.

How does this relate to you? If simple thoughts could render the Hulks foot useless, how could your thoughts about investing success be affecting you? Have you convinced yourself that you can’t achieve success as an investor for one reason or another? Is the market too bad? Do you need more money first? What limiting beliefs do you have about what you can achieve? Have you hypnotized yourself into limited success without knowing it?

If your a struggling newbie your answers to the questions will move you closer to the root cause of your problem. Even if your a seasoned investor, you are likely to have some limiting beliefs about how big you can grow your business. Once you uncover your limiting beliefs, you simply need to notice when that little voice inside starts trying to convince you of your limits. Instead of getting in a pushing match with the little voice, simply ask “How do I know this is true?”. If there is no way of knowing whether or not something is true, you simply need to dismiss what the voice has to say and move on.

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