How to Buy Wholesale Property in New York
Have you heard the buzz about buying wholesale property and wondered how you can get in on it? Perhaps you don’t even know what wholesale property is. Don’t worry, it’s a confusing topic to many, but savvy investors are learning how lucrative this field can be. Here are some points to help you make sense of the New York wholesale properties market:
Don’t let the traditional meaning of wholesale confuse you. The market of wholesale properties for sale is a bit different.
Wholesale properties are put on the market by other real estate investors. For instance, a real estate investor may commit earnest money to a property, and then seek other investors who might be interested in the property. Once the investor finds other investors, he negotiates a sale to these investors for a slightly higher price.
Another way investors utilize the wholesale market is by grouping with other investors, finding a bargain property and then brokering a deal on it for an assignment fee. This often happens with real estate investors who are skilled at finding potentially lucrative properties but don’t want to take the time to rehab and resell themselves.
It’s important to remember that even though the word we use is wholesale, you do not have to buy multiple properties to enjoy the benefits of wholesale properties.
One of the best reasons to investigate the wholesale market is that it is much more exclusive than other markets. Let’s face it, there is a lot of competition in real estate investing today. Everyone wants to profit from buying and selling houses, or perhaps holding onto them for rentals.
With all this increased competition, the price of properties just goes up. With a limited number of properties, and so many investors vying to buy them, prices rise. And, of course, this translates into less profit for you. This is why it’s such a good idea to buy wholesale properties.
Many real estate investors spend their time poring over the MLS lists or looking for foreclosures. Wouldn’t it be nice to have access to more exclusive listings? Wholesale purchases for investors are not nearly as well known, so you won’t have quite the competition.
You can find wholesale properties for sale from our listings at www.myhousedeals.com. We guarantee at least 15 new listings each month, and we also guarantee that each property will have at least $15,000 in equity or spread.
The list works like this: investors advertise wholesale properties they have under contract and potential buyers contact the sellers to place bids. One of the biggest advantages of subscribing to the list is that we’ve done all the hard, time consuming work of finding wholesale properties for you. All that remains for you to do is to decide on which wholesale properties for sale that you are interested in, make the bid, and then sit back and reap the profits.
Are you ready to jump start your real estate investing career today? Become a member for free today by clicking the button below!