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April 2018 (1) There are two downsides to owing a rental property directly. First, it typically requires a lot of cash up front – from the downpayment to the maintenance required. You really need to assess whether your return on investment will be worth it.
TJ on September 25, 2013 at 10:37 pm I’m 28 now, and I will be beginning to look for my 4th house in a few months. I didn’t buy my second house until 4 years later after my first. So I guess I need to revisit how lucky I’ve been, because maybe I over estimated it. 8 years, 3 houses. With 0 kids, single, almost no debt, sold my very nice car. I’m very good with money, but life happens. When I go look for my 5th house, I will most likely have to lie, or purposely find another job in a different area, or find something that will justify to an underwriter that it is ok to give me another loan on a another house. For what reason? Nope, you are an investor, sir. Let me get that 20% down.
Great post Seth! Very well explained. Also wanted to let you know that I have had success in assigning contracts when the seller offered owner-financing so cash isn’t always required if seller is willing to be the bank
March 8, 2015 at 2:50 pm I absolutely love wholesaling real estate and it has changed my life. I once had no money and no credit, and now I amass a small fortune, flipping houses in my spare time.
Apartments For Rent If not possible to assign, make sure you have a title company that will do a double-close and just double close.
Key Tags Apartments For Rent professional and founder of that even in the threat of not increasing investor Designer Men’s They change their mind about moving
USEFUL LINKS * Fixer’s profit: $25,000 No. I would offer the seller between 40-50% ARV and see what happens considering they’ll most likely counter offer up to 50-60%. Starting with your maximum asking price will not leave yourself with any negotiating room. For the sake of this example, let’s say the eventual purchase price is $70,000.
Lower risk: Become a landlord. Local Scoop Marcus, do you still include that inspection period even if you already saw the house? For example, recently had a potential deal come across my computer. I was talking to the owner and scheduled a day to come see the property and had planned to get it under contract that day. Then I remembered that I’m supposed to use the 30 days (or 14 days if that’s what you do) for an “inspection period” which I use to get my numbers right, find a buyer and if all of that doesn’t work out I can walk away by using the inspection clause as an out. However, how does that work when your buyers want to do their due diligence, which they should? Can you look at the property and still ask for an inspection period? Is it okay to be straightforward with them and tell them this inspection period is to allow potential buyers or “partners” to come view the home as well?
Event News (3) April 22, 2013 Digital Interview Why Use a REALTOR® January 30, 2015 at 11:22 am
FortuneBuilders Youtube Channel Single Family Owners Discounts The Best Ways To Find Wholesale Real Estate Properties
Like3 Marcus Maloney on July 27, 2016 10:53 am California-based lifestyle photographer and founder of Presets Paradise, I specialize in interiors big and small for unique properties worldwide. With my spunky dog as my co-pilot, I’m always looking for the next adventure! You can find me at www.nataliarobert.com and www.presetsparadise.com, and follow my daily adventures on IG (@nataliarobertphoto).
MON-FRI 10am to 5pm H Stake Rania Abdo, B.A. and licenced in NY/FL Marketing & Real Estate
The simple answer is that the P&S contract with the seller expires & you loose the opportunity to help the seller. 5 SG | December 23, 2017 at 11:52 am MST
LDP Rose Wilkins…, , Edmond, OK Leave your comments below! ©2018 Indeed – Cookies, Privacy and Terms 2. Plan Your Closing:
« Dec     In your search for the best US cities, neighborhoods, and real estate properties on your journey in how to get rich in real estate, don’t forget to check out Mashvisor for various metrics and analytics.
42.) VA Foreclosures – Similar to the HUD foreclosures, the US Department of Veteran’s Affairs sells their homes as well after foreclosing on one of their insured properties – and no, you don’t need to be a veteran to buy one.
All of our properties are sold for either cash or hard money. It is the Buyers responsibility to perform their own due diligence before purchasing a property.
Can everyone do it? This is like asking can everyone swim faster than Michael Phelps. Almost nobody that lives in the real world can do this. I literally know 0 people that can follow this model. It is not realistic.
FSBOs April 12, 2010 at 5:03 pm San Francisco, CA (38) Back Door open for any time exit (contract expires without further action) In 1994, the Cleveland County District Court was asked to answer whether ownership of real estate occurred at the moment the contract was signed or at closing.[iii] Here is what was happening at that time in a nutshell. Essentially, a new home builder was trying to sell his newly constructed homes. When a purchaser had trouble selling his existing home, the new home builder would enter into a contract to purchase the existing home. The new home builder would then take the contract on the existing home and sell it to a third party. The Oklahoma Real Estate Commission filed a lawsuit to prevent the new home builder from marketing the existing homes for sale because it was doing so without a license.
42:09 Tianna McKeithen on January 23, 2018 12:36 am
This next trick to help you find wholesale real estate properties is contingent on whether or not the previous two acquisition strategies result in the sale of a property. Subsequently, to acquire a bank-owned property (or real estate owned REO), the property mustn’t find its way to an end-buyer. As the name suggests, bank-owned REOs have been repossessed by the banks, and failed to either sell at auction or result in a short sale.
The limits are only on docs, lawyers, financial advisors etc. It looks like the 1994 Cleveland County Court case was the only time a court in Oklahoma has answered the question of whether ownership occurs the moment a contract is signed. The fact that the decision came from the District Court of Cleveland County creates a business risk because its decisions are not binding. The Oklahoma Real Estate Commission does not have an official policy on this matter, but appears to have chosen to follow the reasoning of the 1994 Cleveland County decision: that binding contracts create sufficient ‘ownership’ in a wholesaler to allow them to sell the contract/house without a real estate license.

anthony says: Too often many dabbling into real estate wholesaling for the first time will wait until a deal on a property has closed before they create a wholesale buyers list. This is not the right approach. Instead, try to create a buyers list as early as possible, so you’re ready to move swiftly to sell a property upon closing of a deal. This includes looking for buyers with sources such as:
“It is one of the city’s primary locations for industrial wholesale distribution, the location of the DC Farmer’s Market and home to several unique stores,” according to the Florida Avenue Market Study report. “The historic nature of some of the buildings and the functions of the area, offers a certain character and grittiness.” The report described the area as “significantly underdeveloped” and “increasingly run-down,” with many structures in need of repair.
Home > Smart Money Still nobody has answered this question, and it is the * * newbie question of all times * * when it comes to wholesaling…. Become a Premium User Now!
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Helpful MEMBERS AREA February 17, 2016 at 7:54 pm Love the blog! Answered Jul 24 2017 · Author has 855 answers and 510.9k answer views
5 out of 5 Does your wholesale package kit works for single, duplex, commercials too? Let me know, I’m thinking about getting your wholesale package.
In the case of real estate, the Retailer is often a Realtor or an Investor, sometimes even a home owner. Anybody who sells the product (real estate) for full market value to the consumer is a retailer.
James says: 3.0 out of 5 starsIt’s needs some grammar improvements Build your investor list: Getting the deal to contract is not a wholesaler’s end goal. You need to have an end investor is place to complete the transaction. A wholesaler should work on building their investor list every day. Every “we buy houses” sign you see could be a potential investor partner. Look on Craigslist and other real estate websites for investors who are actively buying. Get as many business cards as you can at investment club and networking meetings. The bigger your buyer pool is, the easier it will be to assign your contract. Having only a few investors is not enough. Add a name or two to your list every week. Find out what they like and where they want to buy.
Administrative and Regulatory Practice “I wish to know more.” Who or what is a real estate wholesaler? Anybody who sells real estate to a real estate retailer is a real estate wholesaler.
So next time you drive by one of those signs that says For Sale By Owner why not stop. Knock on the door and see if you could possibly buy their house. If you are going to do this, make sure you have blank Purchase & Sales Contracts in your car.
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TIP: You can use pre-tax retirement dollars to investment in real estate through a “self-directed” IRA. All income and expenses from the property are paid for by the IRA, but you can make buy and sell decisions with the approval of the account’s custodian. See “Tips for Choosing an IRA.”
5.0 out of 5 starsGreat First Read on the Subject of Wholesale Real Estate Purchasing Going Green September 15, 2016 at 3:30 pm
April 8, 2018 at 8:39 pm Share this If you have any reservations about “networking”, one way to get over that is to think of it as a professional social hour. This way you re-frame it in your mind as a way to connect with the clients that will be a good match.

Real estate is an ever-growing market. No matter how bad the economy is people are always going to work hard to buy their dream homes. Real estate is one of the best ways to make money and build wealth. It is one of the best ways to earn money in a short period of time for house buyers. Day by day there is an increase in the number of people who invest in real estate property and earn a huge profit.
Yes, it might take a few hours. by not selling you significantly reduce transaction costs and tax drag Now that you have a basic understanding of what wholesaling is, let’s move on and talk about one of the most common questions people have: can I wholesale without a lot of money?
Telephone: 210-714-6999 Wholesalers can get paid in a number of different ways.  Typically their fee is paid when you close on the purchase of their property.  However you might be able to work something out where you get a percentage of the overall profit from the eventual sale.
Now after the rant . . . I’d like to outline something which is generally missed:
chat screen or if you can phone the writers. Paul’s cathedral designed Old Unhappinessis property|the property of Outdated
With a mere $10, Ailin Graef created an avatar named Anshe Chung who came to control 36 square kilometers of virtual land in Second Life, worth over a million in real dollars. Chung’s empire started with small virtual real estate purchases which were subdivided and redesigned with chic landscaping and architecture, then sold to other resident avatars. Virtual real estate success gave birth to a real company staffed with 20 to 25 employees. (Source)
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I personally should be a millionaire in 5 years from now, following the very same model, while working hard at my RE company and collecting commissions, which will accelerate the process.
Even if you’re currently doing good to meet your employer 401k match at the moment and also have an extra $100 to spare each month, you can make money investing in real estate.
The 5 Principles of Wealth Building with Real Estate Investing April 2, 2018 For a long time, my land investing business followed a pretty simple model that worked extremely well about 80% of the time.
Clever Investor Mentoring Brandon Turner on May 5, 2015 9:13 pm Another great thing about the Wholesaling Calculator: You can choose whether or not you are planning to sell to a house flipper or a landlord AND print out PDF reports specifically designed to sell your deal to those cash buyers. These reports were designed to show the cash buyer exactly what they need to see to make a decision — and make you look incredibly organized in the process. 
Invest in rental properties with Roofstock. What repairs the property needs HOW DOES REVERSE WHOLESALING WORK? › Visit Amazon’s Smart Lazy Investor Page Our Team
Need time? Work on your business rather than in your business by leveraging the time of others.  Access free information and find real estate-trained virtual assistants to help you free up your time.  Learn more at VAsForRealEstate.com.
Reuben says: Here is a great article with more information on how much money wholesalers make. A contract with 999 escape clauses may be perceived as not a real deal, and in a worse case scenario trying to take advantage of distressed homeowners.
What do you have to do to make a career out of wholesaling? Real Estate Investor (544) 2017-02-08 2017-02-10 07:47:17
Hi Samuel, The other mistake which people make is under-estimating the repairs which can prove fatal to the real estate investors. For this, you need to know the approximate time that it takes to estimate repairs.
by Than Merrill | @ThanMerrill Search Properties We value your privacy Related podcasts: Real Investing Estate Real Estate Flip Flipping Wholesaling Business Wholesale Realestateinvesting Houses Entrepreneur Money Trading Realestate Wealth Success House Industries Education   Wholesale Real Estate public [search 0]
Conduct a double escrow… in which the new buyer would assume the note you have in place with the Seller. Have that conversation with the Seller upfront and be sure to include an assumption clause in your note with the Seller.
Sell on Amazon REGULATION FOR ALL Real Estate Wholesaling Thanks Brandon…Love the podcast April 23, 2018 2 Contact us: Contact@passiveincomemd.com
Making Money Using These Popular Investing Methods What happens to us (the wholesaler) when we cannot find a buyer for the property in our contracted time frame???
Follow Scott Yancey on Twitter: www.twitter.com/Scott_Yancey 5 Things Wholesalers Should Know About Real Estate Laws – The Pendergraft FIRM What’s the best approach to take when trying to get a house from an agent? In other words the property is already listed but the seller is willing to negotiate but already tied into the contract
HEADQUARTERS: 430 NORTH MICHIGAN AVE. CHICAGO, IL 60611 Knowing where to find buyers is important because they are the people who will be purchasing the property and making you money. These buyers will be found from real estate sites, marketing flyers, and signs and from real estate investor groups.
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Bunbury Real Estate July 31, 2015 Eviction Forms April 14, 2010 at 8:57 pm If you had really amazing Rubik’s Cube skills and wanted to give lessons, how would you reach the thousands of interested trainees spread across the world 30 years ago? You might be able to write a book if you could find a publisher. Today, there is any number of ways to sell your talent. You can create You Tube videos with advertising, a virtual class, an eBook, etc.
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Hi Brian – I typically use a title company when the value of the property exceeds $10K, and I’m at least ordering title insurance when the value exceeds $5K. Otherwise, if it’s a small deal, I’m usually willing to close it in-house (assuming I have the time and resources to do so).
Philip Wade on October 22, 2012 2:07 am Well… One one hand, you have to be at least 18 years old, like many things. It may depend on where you are – what country and state.
AmazonFresh Owning a property is somewhat analogous to being a small business owner, and because of that, you’re able to deduct quite a few expenses.
Although some new real estate investors may get overwhelmed by so many choices, all you really need to do is just pick one of the 99 (and do #100 as a must do) to make a nice living in this business. Personally, I particularly am fond of #16 and #92. Well done!!
RCS x Don’t have an account? Sign up Bottle Tags Thousands of books are eligible, including current and former best sellers. Manage Your Money, You Must: 10 Money Lessons We Learned from ‘Star Wars’
There is one key point for you to keep in mind if you are going to be assigning a contract. You must use the words “and or assigns” after your name. This means that on the purchase contract the buyers name should be “Jack Smith And Or Assigns” not just Jack Smith. If you don’t use those words “and or assigns” then your contract will not be assignable. You should also check off the clause that says that the purchase contract is assignable, which is a separate item that is further down in the purchase contract.
Wholesale Real Estate Investor Rules To Live By Anonymous Q&A Home
Real Estate Ebooks Since real estate appraisal can be a difficult career to break into, the number of appraisers in the US has fallen sharply over the past decade. That means that opportunities for new appraisers who are willing to go through the process of becoming a licensed appraiser are on the increase.
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Many thanks for sharing with us. news Another house is bought below market value in year four. Cash flow increases to $7,200 a year plus $1,100 in previous savings and $7,500 saved this year. You now have $17,300 cash saved up before we subtract another $10,000 for the purchase of a new house as well as cash for the repairs. Net worth has increase $25,000 on the purchase plus $4,500 in equity pay down. Total net worth increase is now $90,800 for the last four years.
Complete Series The most important real estate wholesale contract is the assignment contract because it states the assignment of ownership rights of the property to someone else without actually passing the ownership of the property from the seller to the wholesaler. When working on a wholesale contract, it is important that all the essential parts of an assignment contract are present.  The seller and the buyer can also add their own stipulations and terms to the contract, but these are the most necessary components to ensure completeness of the details of the contract.
Great book for anyone wanting to try their hand at wholesaling in real estate. It is a well written, easy to understand and very informative book with great transparency into Than’s past experiences in the business. A great place to start with web links to follow on, a great place to start.
The opportunities are truly endless. Damian Powell February 13, 2016 Plans What do you tell your sellers about who is buying the property since you assign mostly? Do they know that you are not the end buyer and do they care? Just wondering how that piece is handled.
FINANCIAL PLANNER™ Testimonial Ken, great I’m glad I could be a resource for you Fax: 210-801-9661
Realtyshares – Realtyshares offers investors a variety of properties to choose from, including residential, mixed-use, commercial and retail. They don’t charge their investors fees, instead placing that burden on the property holders. Investors can start seeing a return just a few weeks after the project is funded. We are partners with Realtyshares, and they’re giving College Investor a $100 bonus when you make your first investment using promo code Partner100.
See Reviews Frequently bought together Bank Accounts This concept of wholesaling may have a negative connotation due to real estate buyers, brokers, and agents taking unfair advantage of distressed sellers. Actually, it is the middleman or broker who serves as the intermediary between the seller and the buyer who may inflate home values or hide property shortcomings or liens.
Mortgage Calculator Joshua Dorkin on September 3, 2012 10:47 pm Seek out motivated sellers. These people are desperate to sell for reasons such as bankruptcy, divorce, death of a relative, an out-of-town new job, poor condition of the property, behind on payments, etc. They will be more open to providing funding to close the deal quickly. Your local real estate broker can help provide information on who might be in this situation.
Other companies divide and concur by specializing in one aspect of the business. For example, farmers grow the food, the food then goes to processing companies, who then sell the product to distributors, then to grocery stores, and finally to the consumer. The analogous supply chain in real estate occurs when a Motivated Seller contacts a wholesaler. The wholesaler puts the property under contract and then does an assignment of contract to a retailer, who eventually sells the product to the consumer.
3. Use your wholesale purchased contract. Once you’re able to work a deal, put it under contract with the phrase “and/or assignee” (which I will explain in a minute). Even though you haven’t’ closed on it yet, you now control the equitable rights of this property.
From the Back Cover The main key to great reverse wholesaling is a strong buyers list. There are hundreds of thousands, if not millions of buyers out there looking to buy and invest in real estate. Help them out. Identify who they are, build lists, keep in touch, serve up the deals they want.

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See Also: A Real Estate Success Story: Flipping Homes for Profit How Do Investors Make Money In Real Estate?
How To Be A Good Working Mom – Harmony, Not Balance Network with other real estate agents and mortgage companies, lawyers, contractors, home improvements and everyone within the vertical or horizontal line of real estate.
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Q1. What $$ dollar amount is considered significantly below market value for houses and what is the highest value to deal with for Contract Assignments?
John Fedro Add a New Comment Notice: The information on this page may not be current. The REALTOR® Magazine archive is a collection of content previously published on RealtorMag.REALTOR.org. The archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.
Brett Snodgrass on January 27, 2016 8:26 am that even in the threat of not increasing investor
$60,000 – $75,000 a year Average Irish, More » I knew a guy who was a RE broker in NYC and sold a multi-million dollar property to a friend of his father, making a huge commission. He later started buying properties and made a lot fast. His father’s network of millionaires (and guidance) made a huge difference.
There’s a reason wholesaling is a favorite strategy for many real estate professionals. It’s not a complicated technique. Below, we’ve broken it down into eight simple, straightforward steps.
Lease the property with the option to buy. You can invest in real estate slowly by making payments on a lease agreement until you have the money to buy. Your payments would (at least in part) be credited toward the purchase price.[2]
© 2012 – 2017 – The REI Lab, Inc. | Website by MyCity Webworks 26.) Vacation Rentals – Buying a property in a vacation area and renting it out when you are not staying there is not only a great way to pay for your vacation home but also build equity in a location where prices go up (and down) with more extreme force.
Friday, May 11, 2018 Directional Signs OK. So rehabbing and financing the sale of used mobile homes isn’t glamorous. You didn’t ask for glamour. You asked for a way to make a lot of money quickly.
Jen “Doc” Chandler on September 2, 2012 6:44 pm A short sale is when a lender decides to sell a home for a discounted price to release an existing mortgage. In most cases lenders pursue short sales when the borrow is in default (the step before foreclosure), but this is not the only time they might use a short sale. Sometimes the borrower might be current, but owe more money than the home is worth.
$75,000 (44) Why I Like to Fix and Flip Homes; Money, Time, Enjoyment… Cashing In On Record High Prices! Apartment sales prices in 2015 hit record…
Home Value Estimator Low minimums – depending on the platform you use, you can invest as little as $500 and be an owner in a property. Not Helpful 0 Helpful 1

About Than Merrill Score deals BLOGROLL Houston: 713-255-4422 What to do if your title company says that you cannot do a double close. Listing vs. Buyer Agent
check_circle Send / Receive Offers Online An Interview with Curbside Real Estate – Podcast #45 It can be challenging to wholesale an REO property when your just getting started, also its hard to wholesale a listed property. I could answer these questions here but to get the in-depth information to answer these questions you can go to equityrealestateblog.com. I have a free book there where it answers many questions regarding this topic and many others.
Clever Proof (4) 4600 Fuller Dr, Suite 200B In the beginning, I was elated and enthusiastic to explain that formula to my friends and acquaintances, but after some time, I actually got tired of explaining it to people so I wrote a book about it, Strait Path to Real Estate Wealth.
Correct, Ned! Thanks! I think 200 is very do-able! Relationship Management
Please~~~Help Me Out Here : ) Flipping A House: Good or Bad For The Housing Market? First, we’re going to start by defining:
Buying low. You turn an instant profit if you manage to buy a property for under market value. Think foreclosures, quick sales, and awesome negotiation skills.
Determining MLS market comps for the property January 20, 2014 at 8:38 PM
What should a real estate wholesale contract look like?
LICENSING ISSUES Press Releases David John Marrotta, President, Marrotta Wealth Management Address of the Property
The Online Influencer System Frequently bought together 41.) HUD Foreclosures – When a US government ensured loan is foreclosed on, it often becomes the property of the department of Housing and Urban Development. It is their job to sell the home and often will offer steep discounts in order to move the product.
Sebrina Ann Lewis on October 18, 2017 10:43 pm Real Estate Marketing Yard Signs I feel straightforward with the seller is the way go Kessia Khadine on October 19, 2017 10:49 am
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> ROI – Return On Investment Capital: Low-Med CONTINGENCY CLAUSES  The assignment fee shall be paid at the time of closing to assignor in the form of cash, official check or wire transfer, and recorded on the HUD-1 settlement form.
22 Hours Ago Thank You For Your Service: Here’s How to Live Like an E-7 on an E-1 Budget Kalen Bruce Where the Hype Ends and the Help Begins
So I have question that seems off topic, but will help me out. So two brokers who are partners decided to split. One of the broker goes and opens his own office and is assigned 50 percent of the listings. Is this legal? Why?
April 12, 2010 at 1:26 pm Ways To Save Money On A Tight Budget by Than Merrill | @ThanMerrill
I’ve had quite a few questions from people about the specifics of how wholesaling works. It just occurred to me that I’ve never written a post covering the details of wholesaling houses. We covered pieces of it and tips, but never the general overview. So here we go.
How to Invest In Real Estate With No Money 5.0 out of 5 starsThis is one of the books that need to be read!
How do you determine your assignment fee? You stated how you determine your assignment deposit but how do I determine what I’ll be making off the deal in total after it closes?
How easy is to become a millionaire from real estate? Do You Really Understand Social Security?
Not the real estate side, but the only peer lending going right now is Lending Loop, which offers business loans.
ECB INVESTMENT GROUP – San Jose, CA I want to buy a house but it requires cash only. Are there brokers that will invest in the property and I pay them back with the equity in the home?
You assign not only your rights in the contract, but also your obligations. So, doing this you would execute an Assignment of Contract document with your buyer to do that and you’re out of the deal completely. Your buyer will be taking it the rest of the way to closing.
Wholesaling real estate is a very short term investing strategy. Some people confuse it with fixing and flipping, but there are key differences. Wholesaling real estate is beneficial if you want to get into real estate but don’t have a lot of cash, but downfalls can include confusion on its legality and complicated contracts.
Hieu on February 7, 2018 7:34 am Set up an Amazon Giveaway I am a member of CTREIA in Connecticut and just getting started in wholesaling and assigning contracts. I just saw a program that is not like yours for 13 times more expensive. I just invested a lot of money in other programs, but wish I had known about yours sooner. I will visit your site again when I have the money to purchase. I am 76 years young and starting a new business with my wife. I will contact you soon.
wholesale_jv_agreement_1.docx • Control the property: I use “control” because you don’t necessarily have to buy it. I’ll get to how this is done in a moment.
Retirement40 Wholesale Houses Sold by: Wordery Specialist The assignor warrants and represents that said contract is in full force and effect and is fully assignable.  Assignor further agreesthat it has the full right and authority to transfer said contract and that contract rights herein transferred are free of lien, encumbrance or adverse claim.  The said contract has not been modified and remains on the terms contained therein.
The Best Resources But it’s important to remember that comparing real estate to stocks is comparing apples to oranges. While there are some similarities, there are many differences that investors need to realize and understand as well.
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So be honest, maintain integrity and understand the problem . . . the rest will fall into place with regular ACTION taking! Michelle Bender on November 2, 2017 5:09 pm 18 months ago I was in the same position, only potentially a (much) worse situation than you . . . I live on the other side of the planet (see my profile). So as a “Newbie” talking to sellers on the phone and trying to offer to help them was difficult to say the very least, especially when they heard I was not in the US.
The Pros and Cons of Real Estate Investing (Note: If you want a copy of my Prospectus Report template, you can get it at the bottom of this blog post.) What do they owe against the property?
US Real Estate Sponsored – Save Job Wholesaling Houses Elite Hello Brandon Thank you for the comment! The Higher Earner vs. The Smart Investor: Who’s Better Off Financially? [A Case Study!]
Rentals March 5, 2018 at 9:04 am Comments (14) The Best Real Estate Crowdfunding Sites 3. Find The Cash For Your Down Payment Or Investment What are some good real estate investing strategies?
Our attorneys approve the contracts, and we have a deal. I have investors in this area, and sell this contract to one of them for $240,000. The investor closes on the contract, invests $70,000 on renovations, and sells the home retail for a $90,000 profit. I have made $20,000 by flipping the contract, and the Seller is debt free with $100,000 cash in the bank. This entire process depending on the state your doing business can take as little as 10 – 30 days.
Delivery Method 4 | Lists or offers, attempts, or agrees to list real estate for sale, lease or exchange;
Interest-Based Ads Commission (7) I admire your commitment to your reputation but utilizing assignment contract in wholesaling RE aren’t going to affect that. The wholesalers honesty, actions, conduct and transparency are what does.
Some new wholesalers are concerned that an experienced buyer may not take them seriously or want to buy their property.  But I’ll tell you what … if you actually come to them with a property under contract and the numbers are good, they will definitely take you seriously!
Pete Garcia on October 9, 2015 11:17 am Than’s Recent Tweets Wholesaling real estate involves an investor buying a property or getting a property under contract and then selling the house or assigning the contract as quickly as possible. The investor may wholesale the property to another investor who will then fix up the property and rent it or flip it. The key to a successful wholesale deal is finding properties cheap enough that there is room for the end buyer to make a profit.
eDirect™ Technology By Than Merrill October 15, 2016 // 0 Comments 5 Things To Remember When You Start Flipping Houses Blog Design by Moxie Design Studios™
I’ve talked to agents who have told me that the purchase and sales contracts they use cannot be assigned to another buyer.
Want 3x more listings and buyers? Joe Echevarria says: Returns On Investing In Single Family Rentals (Gross Rental Yields) Paul’s cathedral|Christopher Wren, who had been the seventeenth-century builder Your plan includes
$5.99 How do you calculate how much to offer? I remember there was a formula Max Allowable Offer = I don’t remember what. Anybody know? from Amazon 6pm Q4. Does all parties- owner, me, and buyer have to be present at the closing (title company/ closing attorney location)?
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Loved the article Seth! What a fantastic job on bringing what most believe to me a complex arrangement into a rather simple process. Kudos brother.
Expert Reviewed 4. The cardinal rule of Wholesaling Real Estate is: NEVER use your own money. Whether you have the money or not, isn’t important. Using your money exposes you to 100% of the risk if the deal goes south. Using other peoples money, limits your risk 100%. It also increases your ability to do deals exponentially. The transactional funding I offer to my coaching students, will fund up to 100% of the purchase price, plus your closing costs. There are no payments for the first 90 days of the loan, and we will hold the loan for up to 360 days. That is unheard of, with most transactional funding companies only willing to hold the loan for 24 – 48 hours. We do not run your credit, we don’t verify your income, in fact we don’t care about your financial situation. We only care about the property you are buying, that it is a good deal (worth more than what you are paying), and that you have an end buyer in place who plans to fix and flip, live in, or rent out the property. It’s that easy! We will fund up to $500,000 per property same day! Proof of funds letters are available at NO CHARGE to you as a coaching student.
17 days ago – Save Job – More… Than Merrill, CEO and Founder of FortuneBuilders and Star of A&E’s Flip This House
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I am a new investor and today I found a property online and it indicates that “this will be an assignment deal”, I want to go straight and buy it. how can I do? Looking to understand what assignment deal was I got here. That means that they are the wholesaler who will do all the diligence of the titles and will take me by the hand until the closing or should I act as a wholesaler and do my own diligence?
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That’s super cool that we can see a real-life example of farm investing. I honestly wasn’t sure I wanted to include it, because I know so little about it, so thank you!
Sat, November 19, 2016 @ 10:17 AM First, people must stop equating “Assigning the Contract” as everything wholesaling. Assigning is a useful tool, but only one of several ways to wholesale a property. I understand people’s attraction, as it’s always promoted as a way to “invest” with little or no money, and make a nice chunk of change doing it.
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Check out this training Should Real Estate Investors Get a Real Estate License? “Hard money lending is a fantastic industry to break into because of the high returns and extremely low risk on the lender’s side. For real estate hard money loans, all investments are backed by physical properties. This means that the lender is collecting interest on the initial loan amount with the knowledge that even if the borrower defaults, the lender still has an asset (the property) to collect his or her return from. The worst case scenario is that you have to sell or flip a property yourself, and in that case, you earn all of the profits.
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Thanks Mark! It was fun to sit and brainstorm for a few hours!
January 21, 2018 at 1:26 pm See what I’m getting at? Sure, you can outsource some of this stuff, but as the business owner, you still need to be the one in charge and you need to know how all this works.
What is Driving for Dollars? See search results for this author Consult With Me Marketing & advertising deals to find buyers Broker Price Opinion [BPO] is a report that only licensed appraisers can prepare to value homes. You can work as a BPO report maker if you are a licensed agent. You will be comparing several homes for pricing with the relevant statistics and commentary for the benefit of home sellers. As a real estate agent preparing BPOs, you can earn anywhere from $30 to $100. The job is simple and easy with many BPOs requiring an inspection of homes or just having the pictures of exteriors and interiors.
So, how does that sound, down at the barber shop? December 29, 2017 at 5:11 am Assignee has the right to a full refund of the Down Payment, upon demand, if any action or inaction of either Buyer/Assignor or Seller prevents the closing of the sale of Property according to the terms of the Purchase Agreement.
Whether you are a new or experienced investor, wholesaling is always the way to make quick cash in real estate. The things to keep in mind if you want to successfully wholesale in a few weeks are:
What is Real Estate Wholesaling As you saw in the example above, it is possible to wholesale without money. However, the one thing I glossed over in the story above is how Jim got the phone call from Deborah.
For obvious reasons, it’s absolutely imperative that you collect all of the information on the seller if you intend to be a great wholesale real estate investor. In doing so, you will make facilitating future interactions a little easier, which can’t be underestimated. Remember, those in financial distress won’t always be easy to talk to — or even willing — so the more lines of communication you have, the better. Be sure to collect the following:
Financial Advice on How To Be Rich Okay. Now it’s time to transition out of the classroom into the real world, where I can show you how to go out and play out all those things I just taught you how to do, so you can earn profit as a wholesaler. Here is an example of a wholesale flip idea while you use the assignment method.
You cannot enter into a purchase agreement without the honest intent to purchase the stated property! April 24, 2017 at 3:00 pm
Thanks for reading, you can find all the forms (contracts) via zip forms. Ask your broker or are you affiliated with an association like Phoenix Association of Realtors if so you have access to all the AAR documents. You do not have to be a Realtor in order to initiate a contract, this verbiage was used in the T&C section of the contract because its a legal requirement that licensees notify the public that you are licensed.
by Alliance Wealth Management, 4. Call those listings back and make an offer.
> What is a Short Sale? 3. wrote: Private Money Loans wp.me/P1JDv8-28 /via @wordpressdotcom 6 years ago
Enter Eric……. I have five real estate books on my recommended list: https://www.whitecoatinvestor.com/best-financial-books-for-doctors/
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Now we need a quick example to tie it all together.
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The Real Estate Wholesaling Bible: The Fastest, Easiest Way to Get Started in Real Estate Investing Kindle Edition What Is Real Estate Wholesaling? If you don’t explain your intentions to the Seller, they’re going to get confused (and probably upset at you) because when you fail to properly set a person’s expectations, things can get ugly.
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Lorne says: CONTINUE READING Once you find a buyer and negotiate a price, the buyer pays you to sign over the contract to him/her. You use an Assignment of Contract for Purchase and Sale to make this happen. Once this form is signed, the buyer simply steps into your shoes; all the rights you negotiated in the original contract become his/her rights. To ensure the seller can’t back out of the deal with the new buyer, be sure the original contract says, “This contract may be sold or assigned.”
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Any time you intend to invest in a property, it’s in your best interest to determine the seller’s equity share. Find out whether or not the seller has any equity in the home they intend to sell; their status will tell you a lot about how to proceed, or if you should continue pursuing the deal at all. Obviously, those sellers with little to no equity and current on their mortgage will be harder to work with, as there will be little room to move a deal in your favor. That said, as a real estate wholesaler, your job is ti find those sellers that have little to no equity and are currently behind on their mortgage payments. To get a better idea of where your seller stands, ask the following questions:
“Eric, here is a check.” Whether you are in residential or commercial real estate, your website can have massive impact on your ability to generate leads (and your bottom line). In commercial real estate, 80% of potential tenants and investors start their search online which means that you need a site that can capture traffic and convert visitors into potential prospects. Same holds true for residential brokers, property managers and any other service providers in the real estate industry.
Another big benefit is depreciation, whereby the IRS allows you to determine the value of the actual building, divide that value by 27.5 (the useful life of a property as determined by the IRS), and deduct that precise amount each year.
2 Mark | December 23, 2017 at 5:06 am MST Last Updated on September 19, 2017 Robert Farrington 4 Comments How To Sell Your House Fast – Why Is My House Not Selling?
Purchasing property in low price will also help you to earn a profit. Try to purchase the property under market value. For this, you can check quick sales and foreclosures.
Cost vs. Value What is the Effect on Wholesale (Assignment) Transactions? 4.Crowdfunding My question is relating to the Option to Buy the property outlined in this article. I assume that I may have to get a lawyer to handle a separate type of document than what a Realtor is allowed to use regarding this option. However, am I legally allowed to enter into these types of arrangements (Option to Buy) as a licensed Realtor? Also, seems with this option having a licenses and access to Realtor perks could assist in selling the property agreed upon in an Option to Buy. My only question is do I have the legal right to perform this type of transaction as a licensed agent and would I be able to list the house on MLS listings or any other types of services to assist in selling it?
1. Do I understand how wholesale investing works? Let’s use the example from the beginning of this post, with Jim, Tom, and Deborah.
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delona I’m also looking for a mentor feel free to add me as a colleague etc. Investing in areas where appreciation rates are fast and high 68.) Hard Money Lender – A hard money lender is a person who lends money for the acquisition and/or improvements to an investment property – based almost entirely off how good the deal is.  If you are looking for a way to earn significant returns on your money without needing to actually own the property, consider becoming a hard money lender.
Jumpstart your real estate wholesaling business today with the these online systems & coaching program: Getting People To Say Yes
Real Estate Blog • By charging a fee to connect the buyer and seller. Latest
Don Montgomery on April 24, 2016 12:12 pm Freedom Mentor Capital Square 1031 – Richmond, VA
Law What you are asking is like walking into a Chinese buffet for lunch and asking “Which item in the buffet will fill you up?” Answer: Everything will fill you up.
Real Estate52 1 | Must disclose in any advertising to buyers that the wholesaler does not own legal title but only equitable title as buyer under a contract;
December 16, 2016 at 6:27 pm The reality is, few of them (only 10% in my experience) actually clean up their credit and end up buying the house.  Also, you will have a huge number that you will be forced to evict and will tear up the property.  I say this not to scare you, but to prepare you if this is the Real Estate vehicle you choose to pursue.  If you do this, make sure you get a huge Option deposit to cover lost rent, attorney’s fees and damage done to the property.
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Trending 2 people found this helpful Rotating (6) Royce Girouard says: 79.) Use a Home Equity Loan – Similar to the HELOC, the home equity loan is (usually) a fixed-rate second mortgage on your primary residence that you can use to purchase anything you’d like – including real estate.
dalmat says: Fundamental Principles Of Real Estate Investing They could. You have a contract but that means nothing to some people. This is why it is important to let people know NOT to bother the tenant. You don’t have to tell them the tenant is the current owner. Other than that, if they ever want to receive any more deals from you, they will know not to try and go behind your back.
So how do you go from just starting to think about a career in real estate to being ready to launch an advertising campaign?
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Deven L. Munns 5. Decide whether you’re going to assign or double close it. At this point, depending on how much of a spread you’re going to earn, you need to choose whether or not to assign or double close (which I explain in a second).
Wholesale Coaching Your investment: Probably $100 or less. Remember: You’re not actually buying the property, so there’s no 20% down or 10% down or whatever. Instead, there’s an earnest money deposit. Many wholesalers use $100. Some use less. But if your assignment contract (the one between you and the rehabber) is written properly, you can even get your $100 back.
Own a million means using the income from the million you bought to pay off loans as fast as you can so you will own a million outright.
Trading Although most vacation homes aren’t rented year-round, weekly rates during peak season are typically comparable to monthly rents for a residential home, Karpinski says. For most vacation destinations, she says, the peak season lasts 12 to 16 weeks.
Call Toll Free 866.579.2262 Log In Log InJoin AAOAJoin REAL ESTATE NEWS He was a real estate investor and made us a leasing option deal in the event our house didn’t sell by the time our dream home was complete. After hiring a realtor, our house sold fairly quickly, and we didn’t need to take Eric up on his offer.
Robert Farrington says Pete Garcia on October 9, 2015 11:17 am Videos (21) You must decide for yourself if you want to go it alone or hire a manager. Many property management companies will charge about 10% of the gross rent ($18,000 x 10%) = $1,800.
Commentary For example, if your rental property (the building itself) is valued at $500,000, you would divide that by 27.5 years (which equals ~$18,000) and be able to deduct $18,000 as a depreciation expense each year for 27.5 years. This deduction allows you to report a smaller profit to the IRs, thereby reducing the amount you ultimately owe in taxes.
I love teaching my students my six simple steps to earning quick cash because it helps them picture the wholesale process from a higher level overview:
61.) Real Estate Accountant – An accountant is able to see first hand the math behind a real estate investment. The Pendergraft Firm LLC
Realtors also don’t feel comfortable with assigning contracts because the property is essentially being sold twice and the homeowner is unaware of this.In general, realtors feel like the wholesaling industry is scrupulous and their reputation will be tainted if they are associated with it. Realtors are licensed and insured and want to uphold the code of ethics they undertook.
Views:  That secret is that… Resources / Real Estate Investing 101 Huge Mistakes I Made As An Entrepreneur
Fort Worth: 817-953-8826 Vanita Allgood Inbound and outbound phone calls Lifestyles Unlimited The next method of how to get rich in real estate is somewhat related to number 2. In this case, if you have a rental property the mortgage for which has been already paid (or which you purchased in cash), you use the positive cash flow from this property to save up a down payment for another property and then to pay off the mortgage of the second property.
21. Buy REO properties Get Access To Atlanta’s Best Off-Market Wholesale Investment Properties Your Money “(2) Discloses the nature of the equitable interest to any potential buyer.
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Of Paul’s cathedral|Christopher Wren, who was simply the seventeenth century builder of St. Telephone: 817-953-8826 June 15, 2016 at 7:41 pm Words of Wisdom Knowledge Center z
Remodelista AS SEEN ON My last rental is a different story. I bought a brand new property, furnished it nicely, set up rental prices that are not outrageous but will drive away the worst tenants, and positions the place as an upscale flatshare for young professionals, instead of a bottom range share for first year students.
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ML My eyeballs nearly popped out of my head to see this huge list. I like how you broke up careers, niches, marketing into separate groups. Like you said you could on and on with more ideas and combinations.

LAW PLAN The closing, or settlement as it is also known, will take place at the title company’s office and will last about 90 minutes. All parties will come together and the deed will be transferred to the new owner. Once this is done, it will be the completion of a wholesale deal.
Investment Secrets I hope to meet you in person someday and participate in your inner circle. Answered Oct 17 2016 · Author has 4.3k answers and 6.7m answer views
it depends on who you are selling to. Flipper or landlord. Usually flippers go by the 70 percent rule and the wholesaler needs to leave some meet on the bone for themselves. 27 Passive Income Ideas You Can Use to Build Real Wealth
investment-and-foreclosure real-estate Great article! I too will be purchasing your package later this week. My question is regarding the seller’s agreement. Where would I check to see if it is necessary to put earnest monies into an Escrow Account wholesaling in California? I attended a seminar where it was highly recommended that we put $5k into an Escrow Account to motivate the seller to assign the contract to you & if for any reason the deal doesn’t get done, they keep the $5k for their troubles.
Your wholesale profit Notes/Paper/Mortgages
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$100,000 (fixed-up resale value) * 70% – $10,000 (repairs) – $8,000 (your wholesale fee) = $52,000 (max offer) Type keyword and hit enter Filed in Fix and Flip, General by admin on February 15, 2017 • 0 Comments
Try and use this method with sellers who would like to sell but do not have their properties listed on the Multiple Listing Service (MLS). These sellers are not willing to pay an agent a real estate commission and typically place “For Sale by Owner Signs” in their yard or on sites that advertise properties for sale. If you can get in front of a seller like this and get them to sign a purchase and sales contract then you have a property under contract that is not even on the MLS. That means for a brief period of time (however long the inspection period is) you have a property under contract that you can sell to anyone for a profit and this property is not even listed on the MLS.
Hi James – you bet! If you buy the package, you’ll get a download link where you can save all of the templates to your computer.
Telephone (required) WHOLESALING 101 College Follow Pauline Paquin on Twitter: www.twitter.com/RFIndependence Support the Site Visit our website: www.LapinLawTX.com How to Make Big Money in Small Apartments
“I wrote it, and there is an entire chapter dedicated to wholesaling. It’s like this post you are reading… on crack.” Haha! For those who have yet to read ‘The Book on Investing in Real Estate with No (and Low) Money Down’, that statement is very true. Lots of good content and it does a great job of breaking everything down. Good work Brandon!
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Note: I am not clear on the background (time commitments, risk tolerance etc.) of the OP. Hence, I will provide a generic answer. Here it goes: I’ve talked to agents who have told me that the purchase and sales contracts they use cannot be assigned to another buyer.
Reshape Manager Selection There is one key point for you to keep in mind if you are going to be assigning a contract. You must use the words “and or assigns” after your name. This means that on the purchase contract the buyers name should be “Jack Smith And Or Assigns” not just Jack Smith. If you don’t use those words “and or assigns” then your contract will not be assignable. You should also check off the clause that says that the purchase contract is assignable, which is a separate item that is further down in the purchase contract.
Options Is it possible to wholesale real estate remotely? to examine specifications and your needs right together with the writer. Peter Abualzolof, Owns a real estate analytics company
Home improvements can also spur appreciation, and this is something a property owner can directly control. Putting in an extra bathroom, heating a garage and remodeling a kitchen with state-of-the-art appliances are just some of the ways a property owner may try to increase the value of a home. Many of these techniques have been refined by property flippers who specialize in adding high-return fixes to houses in a short time.
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I’ve been financing real estate for years for entrepreneurs, looking forward to doing it myself soon. I’ll agree with RadCrowd, it is an excellent inflation hedge. My first job was in a college town, I met many grey haired real estate investors who went through the 70s.
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So even if you’re not a complete wholesaling expert — and born with legal mind — make sure to dot your I’s and cross your T’s to ensure this complicated, though powerful, form of investing doesn’t leave you in the dark.
Wholesaling is the perfect way to get your feet wet as a real estate investor. Do you know your real estate wholesaling goals? As with any new business opportunity, there are both benefits and disadvantages to the process; make sure to evaluate the pros and cons before getting started.
I love vacation rentals. I don’t have any yet, but I can’t wait to get one in Hawaii or Southern California for that very reason. I’ve stayed in them on a number of occasions, but my favorite was a gorgeous farmhouse in the Tuscany region of Italy for under $100 per night. It was an incredible deal and an even more incredible place. I found it through HomeAway.com.
A wholesaler is a real estate investor that puts a property under contract and sells it at a discount to another investor for a wholesale fee. Here are 5 things investors should know about wholesaling from a legal perspective.
First of all, great article!! Thank you so much! I’m not sure you can speak on this, or are willing to, but recently I have been considering taking one of those real estate training classes by the Rich Dad Poor Dad people. It costs a lot. $12500 for their basic training package. I was hoping to find someone who is doing this work themselves already and came across your website. Just out of 100% your personal and professional opinion, do you think those programs serve their purpose? I read a review that stated you could get the same training from books at Barnes and Noble. I’m not sure if that’s true or not. I want to make the best decision possible to get into wholesaling, flips (eventually), and lease options. Any advice you could give me would be great!!!! Thank you!!
The opportunities are truly endless. Souvonik De, Made $, lost $ investing in Real Estate
Additional contact Buyer B   Regardless of who you’re looking to connect with, word of mouth is a must! Be sure to let your family, friends, and colleagues know that you’re looking to connect with new clients.
​✔​ High Equity Deals (Includes Free & Clear Deals) Your Orders Some individuals do not feel confident on paper papers and Can you wholesale real estate in Oklahoma without a real estate license?
Job Search Tool For College Students Yes. I still offer the course. You can find out more about and sign up here: http://freedombyflipping.com Orlando Roche on October 14, 2015 11:43 am
2.) Buy the Property and Then Sell the Property: We’ll talk more about this process later in this post, but rather than “assigning” the contract, simply buy the property and then re-sell it (even if you only own it for 5 minutes, through a “double close”). Again, we’ll talk about this later.
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The key to any real estate investment is spreading your available capital into several projects to maximize your earning potential while minimizing your investment risk. Administrative and Regulatory Practice
When I first started trying to assign contracts, I found that some title companies have no idea what they’re doing (they acted like I was asking them to move heaven and earth or do something illegal). The title companies in my area seem to be particularly incompetent with these deals – and it threw a huge wrench in my progress for a long time.
Example: You find a property that in fixed-up condition (ARV, or after-repair value) would sell for $550,000. It requires about $90,000 worth of work. You can put it under contract for $305,000. You do so; you now have a contract with the owner(s) to buy the property for $305,000. The contract is assignable (most contracts, including real estate contracts, are assignable unless they specifically say that they’re not). You find a rehabber willing to pay a total of $330,000 for the property: $305,000 to the owner and $25,000 to you as your assignment fee: For the rehabber’s right to take over your role as purchaser in the contract. You make $25,000. I know people who average $23,000-$26,000 per deal. I know others who average $5,000-$7,000 per deal, but they may do 20–30 a year.
What Should Be In The Wholesale Contract Your buyer MUST have the ability to pay all-cash (because most mortgage lenders aren’t willing to deal with the minor complexities of an assigned contract).
Sheena Tweed says: Seller will accept $50,000 Who We Are Understanding the benefits of using wholesaling as an exit strategy April 23, 2017 at 2:30 am How Much Should You Spend in Retirement?
Feedback Awesome! Glad to hear it Paris! admin says: “The best benefit of fix and flips is the fact that investors do not have to deal with becoming a landlord, or dealing with property managers and tenant nightmares,” Merrill says. Even after you have gone through the arduous process of finding reliable tenants, it’s possible they may damage the property or skip out on rent payments. “Tenant issues tend to eat up a lot of time and money and cause unnecessary stress,” he notes.
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He was a real estate investor and made us a leasing option deal in the event our house didn’t sell by the time our dream home was complete. After hiring a realtor, our house sold fairly quickly, and we didn’t need to take Eric up on his offer.
every of the next terms. Utilize a book that will help you. I hope this helps!
They key with getting rich quickly in real estate is a couple of things:
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Contractors & Vendors Assignment of Contract on Transactions Requiring Bank Approval Great comment!
Since the beginning of time, entrepreneurs have battled basic business constraints: how do I reach my market and how will my market reach me. Technology is reducing the difficulty of both these constraints. When you think about these basics you can see how traditional commerce made selling your talents difficult.
$250,000 a year Related podcasts: Real Investing Estate Real Estate Flip Flipping Wholesaling Business Wholesale Realestateinvesting Houses Entrepreneur Money Trading Realestate Wealth Success House Industries Education   Wholesale Real Estate public [search 0]
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Purchase price and financing: The purchase price, deposits and financing terms.
The Zandbergen Report Featuring Rick Cirelli28:20 See all 3 images Banking and Finance Law The other mistake which people make is under-estimating the repairs which can prove fatal to the real estate investors. For this, you need to know the approximate time that it takes to estimate repairs.
Depending on your rights to the land, companies may pay you royalties for any discoveries or regular payments for any structures they add. These include pump jacks, pipelines, gravel pits, access roads, cell towers and so on. Raw land can also be rented for production, usually agricultural production.
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…I got so many different opinions from so many different people on how the process was supposed to work. All the advice I saw on the various real estate forums and blogs would constantly contradict with each other – which made it even harder for me to nail down the correct way to move through this process.
Make Money Using These Marketing Techniques GET FUNDING TODAY Nan K. Assignment is a tool in contract law…I had several RE lawyer consultations before buying that first property through an assignment contract. One talked my ear off about erroneous highly unlikely scenarios, HOURS OF TALKING. So that lawyer talked herself right out of a job. Two other prominent RE lawyers in Philly promised to send engagements letters to review the contracts and never did…On follow up it was apparent they never intended to do so. So do you stop investing because some idiots say not to do it…and cry Henny Penny the sky is falling!!!
Malok Mading on May 20, 2015 7:17 am Make sure to involve a real estate attorney in finalizing the contract to ensure the terms of the agreement are legally sound for all parties. The Purchase Agreement with the seller must include an Assignment Clause, which allows the wholesaler, or Buyer A, to transfer the rights to a new buyer (Buyer B). There are many wholesale real estate contract templates on the web, but nevertheless, don’t discount an attorney to look things over. The real estate attorney is an independent third party hired to make sure the deal is fair and the property’s records are in check as agreed upon in the contract.
I agree with much of the sentiment in the other answers, but one thing which hasn’t been covered is development.
like a dazzling in casual street-wise argot. Paul’s In some jurisdictions, if you are wholesaling a property with tenant occupant(s), the tenant occupants (2) must be given an opportunity to match the selling price and buy the property. Tenant’s Right of First Refusal jurisdictions each has their own set of rules that must be complied with before a wholesaler can sell the property to another investor. An attorney can help make sure that you are compliant with the rules.
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For example, let’s say that you have a rental property that generates a $500 cash flow every month after expenses. It’s a slow start but you’ll be generating an extra $6,000 a year. And let’s say it takes $25,000 cash for a down-payment on a new property. Then in about four years, you’ll be able to purchase the new property for real estate investing. Now, you’ll be generating $1,000 in cash flow ($500 from each property after expenses). With that, you’ll be able to purchase a new property in two years, rather than four – and so on.
Mastery Jeff Rose says There are many things to consider when evaluating a potential investment but the number one measure is to be sure it is cash flow positive. You can create an epic spreadsheet or use tools like Simple Wealth to help you calculate cash flow, appreciation and make data-driven decisions.
JimD How do you Wholesale Houses? Bashir Badru, Principal at BMB Property Solutions, is a full time real estate investor based out of the Washington DC area and specializes in wholesaling real estate. He started his journey in early 2017 after reading the book “Rich Dad Poor Dad” and got very intrigued about real estate and passive income through rental properties. That led him ……
Replace Your Income With Wholesale Real Estate Wholesale And Acquisitions Associate Crowdfunded Real Estate Fe’ I believe that “bread and butter” would refer to a decent neighborhood (well kept, prices have held steady or grown for years, etc…). If you can get a house at low cost in one of these neighborhoods you will be in good shape.
1) The wholesaler will include words something like “Buyer is a real estate professional purchasing the subject property for the purpose of making a profit.” This is intended to let the seller know that their property will probably be re-sold during escrow, if not soon thereafter.
Follow @JBHouseInvestor Make Money By Teaching/Sharing Information clauses to relief completely from this contract upon assigning this contract. Failing to do so could cause you life time grief and lot of money.
Brandon Turner on September 3, 2012 9:23 am Of course, the only reason to do this is because you already have your cash buyer ready to fund & close the deals on demand. I have all cash buyers & know exactly what they are looking for, my only question is the earnest monies necessary? Also, does it have to be $5k? Could it be for $1k?
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Sold by: Amazon Digital Services LLC it might not be a taboo matter but generally people don’t speak about such topics. 97.) Podcasting – A relatively new medium, Podcasting brings the ability to create a radio show down to a level where anyone with a computer and microphone can experience.
For example, you might send 1,000 pieces of mail, get 3.3% of those people to call you (30 phone calls) and get 3.3% of those to sell you their home, resulting in one sale. It might cost you $1,000 to send those letters, but if you can make $5k, $10k, or $20k on that investment, it might be a great use of funds. For a much more thorough post on Direct Mail marketing, see “The Ultimate Guide to Using Direct Mail Advertising to Grow Your Real Estate Business.”
This doesn’t mean every wholesale deal you pursue will come to fruition or that everything you touch will turn to wholesale real estate gold. But it does mean speed and knowledge are prized assets in this corner of the investing world, and often the factors that will make-or-break a wholesale real estate investing career.
Leverage increases returns. If you put 20% down on a property, you will still receive rental income based on 100% of the property value, making it a great return for your 20%. Say your property is worth $100,000 and you charge $750 in rent with $500 in mortgage, taxes and fees. You have a $250 profit on $20,000 down. That is $3,000 a year, or a cool 15% return on your deposit. Good luck trying to get an almost guaranteed 15% on stocks.
Real Estate Investing is one of the fastest and most lucrative ways to generate cash flow. The key is having the right knowledge and the right tools for growing your business. 
There is no reason you have to disclose the amount you purchased the property for otherwise. Time: 2018-05-14T13:55:58Z For more help subscribe: The Real Deal in Real Estate TV Show today
No Problem, thanks! Bohdan Shumenko on August 26, 2016 7:46 pm
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“Very helpful post, Mark! Residential property investment is a great way to build wealth if done right. Thank you for sharing the formula!
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Fantastic article thank you for posting it. What are your thoughts on transactional funding until enough working capital is built up to use ones own funds?
Many homeowners confront with the problem that they cannot sell their homes for sufficient money that can pay off the home loan taken from a bank. They do not get the enough price for the home from the buyers. In that situation, a listing real estate agentnegotiates with the bank and convinces it to take less money. If the bank accepts the amount, the agent can then list the seller’s home normally. This is known as a short sale.
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Look for ugly ducklings in upscale neighborhoods where the market has picked up. Before buying a property, research recent sale prices for nearby homes to get an idea of what you can make, and find out how long the homes were on the market. Successful flippers usually sell their properties in 30 to 60 days, says Letitia Patterson, a real estate agent who has invested in properties in the Detroit area. The longer your property sits on the market, the lower your profits will be.
LAW PLAN Where can I find an investment partner? Find Real Estate Deals Wholesale, Fix & Flip, etc..!
2pm – 3pm (Creating a Buyers List) I’ve made an attempt to be as thorough as possible while still maintaining some brevity, so to aid in that goal I’ve included multiple links to other great BiggerPockets content that I don’t need to repeat. I encourage you to open each and every one of these links into a new tab on your browser and read them all.
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Many people who have reached financial independence have done so investing in real estate (in fact, it’s one of the most common ways to become a millionaire). This might seem like an impossible achievement if you’re only looking at the end result, but by starting out with small steps and making continued forward progress, you can make your way to “real estate mogul” even if you only have a smaller dollar amount to start investing with.
Rakesh | December 24, 2017 at 10:41 am MST I think the most powerful one of these is the principal pay down. Most people understand that for an amortizing loan you pay mostly interest in early years and then more principal in later years. I have seen large investors who have owned property for many years paying down over $100k in principal annually. Real estate is a great long-term play.
If we read the licensing rule in conjunction with the definition of “real estate broker” under Michigan’s occupational code, we find a very broad definition capturing any individual or entity that:
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Wholesale Real Estate Learning Objectives From the onset, you will want to be aware of tax implications of the real estate investment properties. One of the key determining factors is how the property is classified, and how it is used.
They had picked up my article online and asked for permission to reprint it! About Sean Tamman says:
Wrapping Up a Project I say “pipeline” because your goal as a wholesaler is likely not to do just one deal and be done. Your goal is probably to do a lot of deals.
Ready to Dominate Your Finances? Donagan July 7, 2017 at 9:05 pm Mill Brown | December 24, 2017 at 4:55 am MST Lease Option Option Agreement Didn’t find the answer?
So what does this mean for wholesalers?  Mark Ferguson is a highly successful, active flipper, having flipped over 100 homes and is currently flipping multiple homes in today’s hot market.
Alec says: Taxation (Business Income) You can find more information regarding wholesale real estate on the Internet, or find out the word on the street by accessing one of the many wholesale real estate blogs.
Video #2 How to Fill Out and Use the Assignment and Option Contracts
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April 5, 2018 Answered Oct 17 2016 · Author has 4.3k answers and 6.7m answer views Renters Should Pay More Taxes (289) I’ve found that there are very few designations for agents who specialize in working with investors and no one website online that offers names to these agents, so I created Agent Invest which has now grown to a large database of investors who want to work with investment savvy agents.
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In real estate, everything makes you money. Also everything makes you losses.
RJD Permissions How To Wholesale Properties will show you how to get started as a real estate wholesaler, and have you on your way to being successful as a Smart Lazy Investor! Real estate investors pay the lowest takes of any for-profit group in the United States. The IRS allows us to reduce our earned income tax on cash flow by taking a depreciation deduction against the house. We can avoid capital gains tax when we sell by using a 1031 tax exchange.
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Jordan says: Now, you may say, I do not need cash for this.  I can simply Option the property for a wholesale price and then sell it to a rehabber or end user.  You are absolutely correct, but getting an owner to accept a wholesale price is rare.  You will make 100 wholesale offers to owners before one is accepted.  Where you will have much better luck is buying foreclosures from banks.
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Sign In    My Husband Is Bleeding Us Dry to Pay for His Grown Daughter’s Lavish Tastes There are a lot of reasons for not being able to find a buyer for your wholesale deal. Usually it is from not having a ‘real’ deal. Not having a deal where the numbers worked for the investor buyers. Sometimes it’s because the wholesaler didn’t put in enough effort to find a buyer.
Possession Date Great info here! Looking forward to learning more about wholesaling. Getting Your Fire Back 8. Commercial Real Estate
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a basic contract to walk through terms and expectations from each of you
Robert Sutton on October 10, 2015 10:31 pm Prosper At some point, you are going to come to the realization that you have to put away your disposable income so that you can fund your real estate investing dreams. You can do so even if you earn a meager salary, or even if you are a starving college student. You can do this, and the important thing is to begin with the end goal in mind.
You are correct. Wholesaler tries to buy for $52k and signs a contract with seller. Then assigns that contract to an investor for $8k (so they sign an assignment contract with the new buyer agreeing to pay $60k with the difference being paid to the wholesaler as an assignment fee). The wholesaler’s assignment fee will be paid at closing by the title company out of the proceeds from the sale.
Take over the seller’s mortgage payments, even if mortgages are ‘not assumable.’ The ‘due on sale’ is only a clause and not a law. If you take control of a property via a quitclaim deed and take over the loan payments – as long as you make timely payments, the lender will not mind nor will they enforce the policy clause. In the meantime (since the investor has full control of the property) they can market and sell it, retaining with any proceeds from the sale.
Probate attorneys Some wholesalers prefer the assignment contract for risk and time involved reasons. There is no need to work with a transaction lender and the time involved in the deal for the wholesaler is far less than a double closing with lending fees.
2) You can request your buyer to get a short term hard money loan and then refinance out once the VA loan is approved. I have numerous buyers use this strategy. This way you help the seller and the buyer and yourself.
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Charity GREAT ARTICLE ON WHOLESALING .I SEEN IN YOUR ARTICLE YOU SAID YOU KNOW PEOPLE WHOLESALING IN DIFFERENT STATES.I LIVE IN NJ AND WAS WONDERING IF YOU COULD TELL ME A NAME OF A WHOLESALER YOU KNOW .I JUST READ 3 BOOKS ON THE SUBJECT AS WELL AS READING ALOT ONLINE.NOW AM LOOKING FOR A MENTOR IN NJ .IF YOU COULD CAN YOU GIVE ME CONTACT INFO FOR A WHOLESALER MENTOR IN NJ
Great article, Brandon- really enlightened me as to what exactly wholesaling was, in a manner that was simple to understand. Thank you.
larry lakes April 17, 2017 Real estate wholesaling is really very simple. It means contracting to buy properties at a discount, and reselling them for a profit.
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Learn more > Rotating (6) FREE STARTER KIT Very educational post and insightful comments. We just sold an accidental rental property. It was a house we couldn’t sell when I changed jobs. I read a few books and learned the vernacular. My mom was the property manager and there was minimal headache.
Is there a particular script anyone uses when making an offer and negoiating with a seller? Please post it here for me!
And the seller might need to be out of the house that same week! There could be liens on the house you’re unaware of.
Invest your money Mélida on March 9, 2018 4:47 am I speak to people on a regular basis who want to get involved in real estate but hesitate because they feel like they need to either be an expert, or raise all the capital first.  Or they might be nervous they might make a mistake during the rehab process which could derail all their efforts!  My advice is always the same: just start wholesaling!  Then the only thing you have to worry about is getting a house under contract.
I don’t understand why buying the property first then reselling later would somehow hide the price of your purchase. Just about every real estate website and the MLS make it very easy to see the sale price history of the property. Seems like a flawed argument to me.
Do you have anything to add to the post?  Think I missed a piece of the puzzle?  Have you ever wholesaled a house and want to share your experiences?  Post your thoughts in the comments below and I will personally respond to every comment!
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All that said, if assignments aren’t what you feel comfortable with then it isn’t a good way for you to do business. Joint Venture (You find and structure the deals. Your partner puts up the money.)
What if this guy just randomly decided to back out? Rental Application Rejection Letter Celebration Cards But here’s my beef: most wholesalers fail because it’s hard. Homeowners can be distressed and motivated to sell for an array of reasons. They may be going through a divorce, have legal troubles, have inherited property, or simply have to move fast to relocate or purchase another home. These are often found by reaching out through marketing and via lead lists.
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Wholesaling Closing Methods – Assignments vs Double Closings Hi Danny, I listened to your podcast on wholesaling with Sharon Vornholt, and she mentions having an escape clause in the agreement signed witht he seller. W hich contract do you sign with the seller? Is it the 1 to 4 single family residential? And where in there do you add the escape clause?
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7:50 Therefore: 0 The next step will then be to assign your contractual rights to an investor, which will require an Assignment of Real Estate Purchase and Sale Agreement. This contractual document will basically state the new buyer is assuming your responsibilities, including the purchase of the property to the agreed upon terms in the purchase and sale agreement.
Weekly Rental Agreement An appraiser that you work with can come out on short notice and give you an appraisal for the property you intend to wholesale. This will ensure you are paying the right price for the property and have room in the price to resell the contract and make a profit. An experienced buyer will also want to see an appraisal before purchasing the property.
One potential way to get around this is to make it abundantly clear in your listing that you are selling a CONTRACT to purchase the property, not the property itself. For example, you could include a short paragraph in your listing that reads something like this…
Thanks for your great resources. They are very clear and good examples to get the process of wholesaling going. In the assignment contract, for the following sentence:
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Fe’ Q5. Are contract assignments only done in the state where ALL parties- (owner, me, buyer, and title company/ closing attorney) are living in? OR can we all live in different states and still do business with each other?
This works when short-term investors get hard money lenders to finance selling a real estate. There are definite low risk and high ROI on the side of the lender for this setup. Also, investments in hard money loans usually have physical properties to back them up. It means interest can be collected by the lender on the initial loan amount plus, if the borrower fails to pay, there’s the property which the lender could collect his ROI from.
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Assigning a contract is a very useful tool for wholesalers that would like to assign their rights to a property for a small profit. Bank owned properties and short sales are not “assignable” but any other type of contract is. And by assigning a contract instead of double closing you can save substantially on closing costs. In order to assign a contract all you need is an “assignment of contract” which is typically a one page (or more) contract which transfers all of the the rights to purchase the property from the assignor (person who has the property under contract) to the assignee (person who the property is being assigned to).
An Introduction To Apartment Investing wholesale_real_estate_option_to_purchase_1.doc Phil, I am wondering…could one use the $ proceeds from the second closing to fund the expenses of of the first, assuming they occur the same day?
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Blog Way by Promenade Themes Sell a good deal They also have a lower volatility than U.S. stocks. The lower volatility and low correlation together means that REITs find a place in the efficient frontier of investing when you are crafting your investment plan.”
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Glossary Cleo says: Thanks As you can see, the Wholesaler (i.e. – You/Buyer A/Assignor) is acting as the “middle man”, getting paid in the form of an “Assignment Fee” from the Outside Investor (i.e. – Buyer B/Assignee).
20.) Wholesaling Apartment Buildings – Some investors make their entire living off wholesaling just one or two large apartment buildings per year. With the larger price comes less deals but much higher finder’s fees.
Get to Know Us Michel says Great question. It’s one that I’ve answered very thoroughly in this post: http://www.flippingjunkie.com/2013/determining-the-value-of-a-house-when-flipping
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If you have done any study or written a contract you understand the promises you made with the seller. You agree to purchase the property as-is, you agreed to pay all closing cost, and you agreed there would be no fees associated with the transaction. Since we understand this information is correct then it need to added to the contract. This is where the additional terms and conditions section of the contract is important.
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Phil Scheiris on July 7, 2016 5:56 pm Share this: 1) You can inform your buyer that you need to extend the close of escrow. You can get it extended to about the time the buyer will be able to be approved for the loan. Then close the transaction. I did a transaction that had a close of escrow date a year in the future. This will not work in many situations but if the seller is not in an extreme hurry this can be done.
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Great beginner article! I too was concerned about a clause for if I wasn’t able to find a buyer.

I’ll tell you this: he didn’t get it by sitting around in his undies playing Call of Duty. it might not be a taboo matter but generally people don’t speak about such topics. Email Address *
Just now What about wholesaling bank-owned REOs? January 21, 2014 at 3:56 PM March 13, 2018 West Coast Living – Yes It Really Is That Much Better! (337) Product or company names, logos, and trademarks referred to on this site belong to their respective owners.
“(b) A person selling or offering to sell an option or assigning or offering to assign an interest in a contract to purchase real property without disclosing the nature of that interest to a potential buyer IS ENGAGING IN REAL ESTATE BROKERAGE.”1
Shannara Jenkins has contributed 22 entries to our website, so far. View entries by Shannara Jenkins. This is as crucial as the inspection period. The and/or Assignee clause gives the wholesaler the authorization to assign the contract to another party. If this is not added to the contract either by the buyers name for example Johnson LLC and/or Assignee or in the additional terms the seller can dispute the assigning of the agreement. If this happens then the wholesaler will have to utilize transnational funding to take the property down and then sign a contract with the end buyer. In essence this clause gives the wholesaler the latitude to assign the contract or double close the contract.
How to Invest In Real Estate With No Money 2. Capital – How much capital you have access to. You will approach real estate differently if you have $1 million cash versus $10,000 cash in your bank account.
Thanks for this break down Brandon , this is very helpful because I’m a newbie and need some direction. Also I’m looking for a mentor to help guide me as well. Do you personally invest in Mortgage notes as well?
Get My New Book! 7 Tips to Start Investing – What You Don’t Need to Start Investing Real Estate in India has always been on the priority list when it comes to money making. It has been like a culture in India, that we feel our life incomplete without our family. The same emotion we feel for our home.
When you’re first starting, it’s nice to have other sources of income coming as well because this also requires you to use as little as possible from the cash flow for personal use. Ideally, you’d want to use up all the cash flow to pay off the rental properties. With that, you’ll be better able to make money from real estate investing in the long run. This might take up longer than the first option, but the trade-off is only having one mortgage at a time to worry about.
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They also have a lower volatility than U.S. stocks. The lower volatility and low correlation together means that REITs find a place in the efficient frontier of investing when you are crafting your investment plan.”
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Appraisal Insight Bhavna Jhaveri on January 8, 2013 9:24 am > The 90 Day Rule In my bird-dogging, I’ve created a list of addresses of vacant homes/homes I think are vacant and I would like to reach them on the phone. Any suggestions of how to get that conversation started?
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