Turn
$10 into $10,000 In 30 Days or Less by Dwan Bent-Twyford
Our
program, Turn $10 Into $10,000 In 30 Days or Less, focuses on
wholesaling. Our main source of income is to find the deal,
short sale it if there is not equity, and then wholesale it. The
great thing about wholesaling is that you NEVER own the
property! We put down a $10 deposit with our homeowners and then
wholesale it for huge profits. Here is another article we wrote
that was also published by a national magazine. If it interests
you, then wholesaling is right up your alley.
WHOLESALING
FOR QUICK CASH
Do
you want to earn an extra $10,000 next month? No really, we mean
it. Of course you do! Flipping or Wholesaling is the way to do
it. It’s fast, fun, and easy.
First,
let’s determine what wholesaling actually is. Some folks
consider buying a house, rehabbing it, and selling it quickly
flipping. Others consider buying a house and reselling it
without doing any work on it, flipping. To us, wholesaling
making money on a house you never own. Never owning the property
is the key to successful flipping.
“How
do you do that?” you wonder.
The
first step is finding a property that has sufficient equity. If
the property has no equity, short sale it and then continue with
your deal. Find a property still owned by the homeowner and get
it under contract. Work it out so that you have 30 to 60 days to
close. Be sure to place the words “and/or assigns” after
your name on the contract. Give a small deposit (we typically
offer a $10 deposit) to secure the property and get to work.
Run
an ad in the “houses for sale” section of the paper. Use key
words like “handy”, “investor special”, “needs
work”, “distressed”, and “must sell”. You will get
hundreds of calls. Be sure to get the name and number of each
caller so that you can call them with your next house as well.
If the house is a good deal with plenty of equity, one of these
buyers will want it.
You
have your buyer… what next? Assign your contract to the new
buyer, who, in turn, closes in your place. It breaks down like
this — You placed the property under contract (with the words
“and/or assigns” next to your name) for $40,000. You found a
buyer and assigned your contract to him for $50,000. He then
comes to closing and buys the house. The original homeowner
receives his $40,000 and you receive your $10,000 assignment
fee. You just made $10,000 and all you invested was $10 for a
deposit and some time answering the phone. Your buyer rehabs it
and sells it for $80,000. Everyone is happy.
Some
of you might be wondering, “Why make $10,000 on a flip when I
can make $25,000 on a rehab?” It’s basically a matter of
personal preference and, of course, your financial situation.
You might not have enough cash to rehab a property, but you have
$10 for a deposit and plenty of free time.
As
we said, wholesaling is our most favorite method of earning
money. We have wholesaled hundreds of properties over the years.
Here are some of the topics covered in our Turn $10 into $10,000
in 30 Days or Less:
TURN
$10 INTO $10,000 IN 30 DAYS OR LESS
TABLE OF CONTENTS
Introduction
to The Authors
Dwan’s
Story
Sharon’s
Story
The
Birth of Financial Freedom Through Foreclosures
What’s
Happening Now
Dedication
Welcome
Letter
Negotiating
Negotiating
With An Owner
Negotiating
Through A Real Estate Broker
What Is
Wholesaling/Flipping?
How To
Wholesale
Partnering
With a Home Owner
Loaning
Money to Help Someone Out of Foreclosure
Summary
of Second Mortgages
And
More!
Regardless
of which avenue you pursue, just do it. Real estate investing
has been very, very good to us. We have hundreds of students
who have also enjoyed the same financial freedom. With our
help and training programs, you can also enjoy financial
freedom.
And remember, there's no risk because of our 30-Day satisfaction
guarantee!
