When the real estate market hit the skids in 2008 and 2009, wholesale buying and selling of real estate became more popular.
Banks, faced with overwhelming default rates, no cash flow, and deteriorating properties, were willing to part with property in blocks, and investors were able to snatch up 10, 20, 30, or 100s of homes, condos, or vacant lots for cents on the dollar.
While not as widespread, wholesale buying and selling opportunities still exist today.
You can approach wholesale buying from the standpoint that you’ll rehab the properties (fix and flip), that you’ll hold on to them until the market improves, or that you’ll immediately turn around and sell them to other real estate investors.
With wholesale buying, a small margin can quickly multiply, thanks to volume. For example, if you buy 10 condos for $30,000 each, and sell them each for $35,000, you’ve made $50,000 on a $300,000 investment.
With wholesale selling, you could package a group of properties and look for a real estate investor who would buy them from you.
To find out more about wholesale buying and selling, as well as other secrets of successful real estate investing, watch this webinar!
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