8 Wholesaling Tips for More Success in 2013
Want to have an incredibly successful 2013 in real estate investing?
No matter where you are in the country or how long you’ve been in real estate investing, here are eight wholesaling tips that will ensure your success at flipping houses for the next year…
8 Wholesaling Tips for a Highly Profitable 2013:
1. Setting Higher Goals
Whether you broke through your real estate investing goals in 2012 or not, set even higher goals for 2013. You’ll only reach as high as you aim. Your past doesn’t equal your future, unless you don’t change. For those who need some inspiration, take a look at the latest ’30 under 30 lists’ and see how many young entrepreneurs and real estate pros are making millions. You can do it too.
2. Set an Achievable Action Plan
Great goals aren’t likely to be achieved unless they are broken down into easily actionable, bite-sized steps. Real estate investors have much better odds of hitting their big goals if they have a road map detailing exactly what they need to achieve each week to get there.
3. Tech Tools
It’s entirely possible to make a great living from wholesaling houses in 2013 without ever touching a mobile app, or even owning a smartphone or knowing what Skype is, but there is no question that going big, fast and staying on top will rely extensively on how well real estate investors embrace technology.
4. Ready to Capitalize on Marketing Opportunities
Real estate investors are hammered with the message that they must commit to consistent marketing budgets and plans each month. This makes a lot of sense and does help to see the full potential of some channels really shine through. However, and this could be the most important of wholesaling tips in this article, advanced investors recognize the need to both set aside a budget for swooping in to capitalize on unique marketing opportunities as they arise and to make seasonal adjustments to their marketing budgets based on local seasonal trends and cycles.
5. Demand Less Risk, More ROI
Those focused on wholesaling real estate already certainly have the upper hand when it comes to eliminating investment risk and maximizing ROI but investors should constantly be looking for ways to do even better. Ultimately this will ensure they stay operational and in the black no matter what is thrown at them and those with the best profit margins are always better positioned to shut down the competition.
6. Diversify
Even if you aren’t holding properties, hurricane Sandy has been yet another powerful reminder of the importance of diversifying. The small expense of investing out of your local area is really tiny when compared to the risk of losing everything due to a natural disaster.
7. Stay on Course
Stay on course; you’ve got the right strategy. There will be plenty more foreclosures in the next couple years and property prices will continue to rise, if not because the economy is improving, because there won’t be anything better to invest in.
8. Be Ready to Adapt
No doubt there will be new regulations and rules unfolding over the next 12 months, which will affect the industry. Stay flexible and be ready to adapt to them.
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