Baltimores Real Estate Wholesale Quick-Turn Flipping Deal
Essentially there is little difference between the process that one follows for a buy to let mortgage in the UK than there is for .....
Wholesale real estate investing (i.e. "quick-turn" or "flipping" Baltimore real estate property) is conceptually very simple. Here's how it works:
First, "Investor A" finds a great Baltimore real estate deal with a lot of equity. Typically, Investor A will have spent
History again and again serves to show us that the real property market is cyclical. It has boom .....
(For this example, imagine that Investor A has found a property worth $200,000 and has set a purchase price of $115,000 and he also knows that there are $15,000 in repairs, which leaves an equity position of $70,000).
Second, "Investor A" finds another party, "Investor B". Investor B recognizes that the contract that Investor A
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has established is worth $70,000 in equity, and so he strikes a deal with Investor A to turn the deal over to Investor B in exchange for some amount of cash, calledan "assignment fee" (we'll use the value of $12,000 in this example).
So Investor A is giving up $70,000 in "potential" profit in exchange for $12,000 in current profit. And Investor B is paying $12,000 because he believes he can make more than that on the deal, since there's a full $70,000 of equity built in.
This deal between Investor A and Investor B is called an "Assignment", because Investor A is assigning the contract to Investor B.
Third, Investor B does his "due diligence" (i.e. inspections, appraisals, etc.) to confirm that the deal is as good as he/she thinks it is.
Finally, at closing, Investor B closes the purchase of the property, and Investor A receives the assignment fee from Investor B.
This is obviously, a simplification of the process.
There are a great many books and web sites devoted to real estate .....
Now, get out there and hunt them deals down!
What' Not sure where or how' I can show you 3 quick sources to get ya started right away...
About the Author
Alain Diza makes it easy to understand the mechanics of the real estate wholesale quick-turn flip. Learn this principle and private strategies the 'gurus' are charging thousands for. Get your free e-course at: http://www.tm-RealEstateInvesting.com
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