Is Wholesaling Houses The Best Way To Get Your Feet Wet In Real Estate?
Is wholesaling houses the best way to get your feet wet in real estate investing? How does it compare to other types of investing strategies, and is wholesaling really investing at all?
There are many different ways to invest in real estate. So how does wholesaling houses stack up as an entry option?
Some aspiring investors have reported that Realtors have told them that the best option, “where the real money is at”, is buying, fixing and offering rent to own deals. While that is certainly a possibility it may not be the best move for newbie investors.
Wholesaling houses rocks for many reasons, especially for those just learning the ropes. Fixing and flipping houses or holding them long term takes some cash, money for repairs and reserves for when things go wrong. Wholesalers in the meantime have already sold their properties on, got paid and may have done several more deals.
The handyman type investor and landlords don’t just face many challenges with property repairs, dealing with contractors, wait longer periods before seeing a return (if they do), but also incur additional costs every day and have to navigate an array of liabilities on a daily basis.
For some reason there is a big misconception in some real estate circles that wholesaling houses is harder than other types of investing. This is pretty outrageous, if not completely absurd, but a lack of knowledge or experience often brings fear of the unknown, even if unfounded.
Some have even conjectured in online real estate forums that wholesaling houses isn’t really investing. Why? Because others are jealous of wholesalers that are making far more money, far faster, with little to no actually cash of their own ‘invested’.
It may take a few dollars to get started for some; others find ways to get going with nothing of their own invested. Most would consider this far wiser, less risky and more profitable.
For those new to real estate this means being able to get their feet wet with little risk. Plus, it provides a way to build up capital to diversify or build a nice nest egg.
In fact, perhaps wholesaling houses ought to be compulsory for new investors in order to teach them the ropes, help them learn the market, get familiar with the transaction process, and hone their skills before even considering any other type of investing.
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