Wholesaling real estate isn’t a hard concept to grasp, and it could make you tens of thousands without ever buying or selling a property. So what is wholesale real estate? Real estate wholesaling is when a person (the wholesaler) gets a property under contract and then markets that property at a higher price to an investor. An investor is still willing to pay the marked-up price since the wholesaler only targets homes that are under market value. This could mean that the home is in disrepair, needs an expensive upgrade, or has been neglected.
Wholesalers are the matchmakers between home flippers/investors and under-valued properties. They aren’t agents or brokers and often don’t carry a professional license. This makes wholesaling real estate one of the best ways to get into real estate investing without ever having to buy or sell a property. Even better? Real estate wholesaling requires your time, not money, so you can start from zero, no matter what market you’re in.
We haven’t brought just anyone on to explain wholesaling. We’ve got master wholesaler and flipper, Jamil Damji, who owns one of the largest wholesaling operations in the country, KeyGlee. Jamil got his start when he accidentally wholesaled a property for $40,000 profit. Now, he’s trying to help every aspiring wholesaler build higher quality relationships with the buyers and sellers they’re working with.
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Check Out Jamil on The “On The Market” Podcast Wherever You Listen to Podcasts:
Apple Podcasts: https://podcasts.apple.com/us/podcast/on-the-market/id1615086704
Subscribe to The “On The Market” YouTube Channel:
Find an Investor-Friendly Agent Near You:
The Newbie’s Guide to Wholesaling in 7 Simple Steps:
The 8 Most Common Lies Newbies Believe About Wholesaling:
Work with the KeyGlee Team on Your Next Deal:
Connect with Jamil on BiggerPockets, Instagram, and YouTube:
Instagram: @jdamji or https://www.instagram.com/jdamji/
00:00 Invest in Real Estate Without Any Money
00:32 What is Wholesaling?
02:50 Selling the “Potential” of a Property
04:39 Wholesalers vs. Agents vs. Brokers
07:44 How Wholesalers Help the Housing Market
09:02 Why Wholesalers Get a Bad Rap
12:32 How to Wholesale Real Estate