1. Wholesaling Rehabbing
Quick Flip
Quick Cash
$500-$10,000+
No Credit OK
Little Money needed up front
Very Low Risk
Fix and Flip
3-6 Months
$5000-$50,000+
Some Credit
Some money needed up front
Low Risk
Chunk to start the section. First deal maybe??? System (Minefield for Rehabbing)
Open with refresher from acquisition sheet (see if there is room on the table for a flip?)
Let’s go through each of these in details step by step….

2. Wholesaling What Is Wholesaling? Is It Legal? Terms To Know
Retail flip
Simultaneous Closing
Wholesale flip
Assignment of Contract
Buying Low and selling for a higher price. Wholesaling is legal. Buying a house that needs repairs and selling at a higher price to someone that will do the repairs.

3. Steps of Wholesaling Negotiate the contract
Set long closing date ( days if possible)
Use and/or assigns
Include “escape clause”
Find a buyer for the property
Assign your rights for a fee
Inform seller/closing agent of change
Using the strategies we’ve learned up to now. You will want to make sure that the contract you have negotiated leaves room on the table for someone else to make money.
Set long closing date

4. Wholesaling Example Find property Make offer/get signed contract
Start title work
Find buyer
Pre-qualify buyer
Sign contract with buyer and collect deposit (take back ups)
Submit executed documents to title company
Go to closing and pick up check
Where might we find a property?
What kind of offer do we want to make?/How do we determine what to offer?
Start title work
Find buyer
Prequalify buyer
Sign contract and continue with back ups
Submit executed documents to title company
Go to closing
Let’s go through an actual assignment form so that you can see how one is filled out!

5. Finding Buyers for Your Contract
“We Buy Houses” ads/signs
Real Estate Investor Associations
Auctions
Networking

6. Rehabbing/Retailing Rehab Formula Costs to Consider 70/30 rate
Purchase price
Front end costs
Repair costs
Carrying costs
Back end costs
Start with minefield and discuss systems and how important they are.
Remember your net costs

7. Rehabbing – Step by Step
Find the property
Make offer
Get signed contract
Important dates memo
Estimate Repairs
Set up professional inspection
Put together project overview
Find property – we have a checklist that we prepare in the beginning of everything that has the ways we look for properties. Helps you determine later on where to allocate more time and money
Make offer – do your preliminary estimates for repairs. Develop some kind of spreadsheet/cost estimator to do that. We developed ours with one of our mentors and it is basically a fool proof method.
Put together important dates memo – keeps you on track with something visual to refer back to.

8. Rehabbing – Step by Step
Secure financing
Prepare contractor agreements
Set up insurance
Prepare budget
Closing
Utilities
Put sign out

9. Rehabbing – Step by Step
Schedule repairs
Post call sheet for workers
Photos
Advertising/Marketing
Cost analysis
Cost Summary
Document with photos

10. Rehabbing – Step by Step
Find the Property
Lead into Mary Kay

11. Rehabbing – Step by Step
Make the offer
Get signed contract
Important dates memo
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12. Rehabbing – Step by Step
Estimate Repairs
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13. Rehabbing – Step by Step
Set up professional inspection
Put together project overview
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14. Rehabbing – Step by Step
Secure financing
Prepare contractor agreements
Set up insurance
Prepare Budget
Closing
Utilities
Sign in front yard
Schedule repairs
Lead into Mary Kay

15. Rehabbing – Step by Step
Post call sheet for workers
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16. Rehabbing – Step by Step
Photos
Advertising/Marketing
Lead into Mary Kay

17. Rehabbing – Step by Step
Cost Analysis
Cost Summary
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18. Rehabbing – Step by Step
Document with Photos
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19. Rehabbing – Importance of Documentation
Organization
Taxes
Resale (lenders)
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