Real estate business stands out as one of the wealthiest business in history. More people are continuing to venture into this business, while others remain skeptical. One of the main reasons why people fear this business, is thinking that they need a considerable amount of capital to start the business. Well, that’s not the case. With the right strategies, timing, and patience, you can earn yourself a fortune.

With so many ways of getting high returns from this business, we’ve come up with the top three strategies of making money in today’s real estate business. The strategies include wholesaling, fixing and flipping, and bird-dogging. The first two strategies are ideal for investors with a low budget as well as beginners who have less experience. The latter can be a great deal for experienced investors.

1. Flipping

Real estate flipping is considered as the best way of earning money in the real estate sector. However, it is also the most expensive method among the two strategies mentioned above. The strategy involves purchasing of old or discounted property, doing the renovation through adding infrastructure or repairs to it, and lastly reselling the property at a much higher price compared to what it was bought for.

This strategy requires a good amount of cash that is readily available during purchasing of the property as well as when renovating the property. Since you are buying the property, then all the transactions are legal without a license, and any brokerage laws do not bind you.

Before starting the flipping business, it is essential for you to know how the real estate market operates. The basic idea of being successful in flipping is buying cheap and selling at a good profit. Therefore, it is vital to know the low rates of properties and their market rates. Additionally, you should know which properties are easy to sell and which ones are not.

2.Wholesaling

It is an excellent way to start investing in this business for someone with little capital. The strategy will not offer you a short path of getting rich but gives you the expertise about real estate that you can use to find your way to the top. The wholesaling concept is similar to flipping. The only difference is that someone who is wholesaling does not make any repairs before reselling a property.

Here, the wholesaler contracts a house with the house owner. The house will then be marketed by the wholesaler to potential buyers. Once the wholesaler gets a buyer, the house is assigned to that buyer at a higher price than the initial contracted price. The wholesaler earns his or her profit from the difference between the initial cost of the house and the amount paid by the buyer.

The best part of this strategy is that the wholesaler makes his or her earnings without owning the property. If the wholesaler does not get a suitable buyer within a given time span, then the wholesaler simply steps aside from the contract. It, therefore, means the only obvious risk to the wholesaler is the time spent looking for a buyer. Getting a license and practicing is an excellent way to pursue wholesaling.

3.Bird-dogging

The two-word phrase, bird-dogging, may seem like a weird term to add in a post talking about real estate. It’s because it’s a hunting term which means hunting dogs chasing birds and catching them before the hunter shoots them down. In real estate business, it’s used as an analogy, whereby the birds are discounted real estate properties, and the hunting dogs are real estate investors.

The strategy is a quick way of making money from the real estate business. Moreover, it is an excellent strategy for beginners with no or very little money to invest in real estate. Here, a property scout, a person who looks for properties for other investors, will locate homes that have issues getting sold. After finding such a property, the property scout gets a decent commission.

After that, he or she will start looking out for people interested in buying that property. Through sharing details of that property such as the address, the ‘bird dog’ earns his or her fees or commission. Therefore, one can see that the ‘bird dog’ should have a lot of contacts or be a good salesperson. Additionally, you don’t need a lot of cash because you are not buying the property. Here too it is advisable to have a license to operate.

The bottom line

The key to making all of this work without pulling your hair out is using digital marketing to our advantage.

With the onslaught of tools and services, it’s easy to get sidetracked with all of the shiny objects.

The core focus should be all about generating leads for both buyers and sellers as outlined by the Unlimited Leads Challenge for using Youtube to bring in leads in 14 days or less. Real estate is no different from other business in the fact that leadflow is the name of the game.

Just like any other business, real estate business requires you to have in-depth knowledge about its market, as well as money and time involved. Additionally, you should be cautious of the laws surrounding the strategy you will use to ensure you are not doing anything illegal. 

In the real estate business, wholesaling serves as an exit strategy that suits different investor personality types. Beginners looking to venture into real estate may quickly start wholesaling because of its shortest completion timelines. Additionally, it helps beginners learn more on real estate business. For the experienced investors, wholesaling serves as a great fit making profits in a short time. 

At its core, wholesaling is all about selling a house to another buyer. The buyer is probably another investor that will fix the property and either resell or rent the house. Micro Flipping is slowly gaining track due to the many benefits it offers. One of the benefits is requiring little cash to start.

You can read more about Micro Flipping here http://shoalsreview.com/microflipping-review/

In today’s technological society, the wholesaling process has become easier than ever before. Moreover, technology has reduced the time taken to complete the wholesaling process. Gone are the days when wholesalers needed to market their houses by going door to door sharing their flyers or setting aside day for searching potential buyers.

Technology has revolutionized the wholesaling process bringing in more benefits than the traditional forms. Despite technology being around us, there is a challenge on how to use it to wholesale more houses. Below, is an overview of the essential ways on how to use tech to wholesale more houses.

Mind your due diligence

It refers to doing a lot of research and strategizing before starting the wholesaling business. Search through the internet to get vital information that will help you to educate yourself about real estate wholesaling business. Here, the internet will be the ideal technological platform for you to use.

Marketing

Just like any other business, marketing plays a crucial role in the real estate wholesaling business. By marketing more and at a wider area, you’ll find more deals. With technology, particularly digital marketing, you will be able to reach a big audience. Digital marketing will provide you with a marketing plan that combines broadcasting and social media networking. Through this combination, your wholesaling business is set to reach far and wide.

Build a buyers list

Coming up with a buyers list is useful and requires you to have networking skills. Yes, you can find buyers through campaigns like bandit signs and direct mails, but one of the best ways is to build your buyers list over time. Here, email marketing will be of significant help to you. A buyers list helps you to have personal connections with your buyers. Remember to maintain a running list of all the buyers you meet so that you expand your professional network.

Fielding calls

After you are done with marketing and building a buyers list, you will probably start getting responses. Here, you will have to use technology to capture and analyze the responses you are getting. Its referred to as collecting and reviewing analytics. There are analytics tools that you can use to capture and evaluate the responses. Additionally, you can track the mediums through which you received those responses – were they via direct mail, bandit signs, social media, or telephone?

Target the motivated buyers

Advertising platforms such as Facebook ads provide you with various options for targeting the right audiences. Since you are wholesaling, your target options can be homeowners in pre-foreclosure, absentee owners, taxpayers. Having your target set will help you design an effective marketing campaign and a successful marketing strategy. 

Design a website

A website will be an ideal technological platform for your real estate wholesaling business. It’s because, in today’s technological society, buyers tend to spend more time online. Therefore, having a website serves the case. Remember that it’s not only having a site but also having a beautifully designed site with fast page loading speed. That will attract more buyers to your wholesaling business. Additionally, you may add videos to your site to bring your properties to life and carousel ads for the photos of the houses you are wholesaling.

Use social media channels to communicate

An average person spends between thirty and thirty-five minutes each day on a social media platform. Wholesaling involves communicating with your buyer and settling at a price comfortable for both parties. Social media channels will offer you with an excellent platform to communicate with your buyers as well as communicate your brand to your buyers. In the long run, you will wholesale more houses.

Conclusion

Use of tech for real estate wholesaling business should not be a daunting or draining task. Consider these tips and watch your real estate wholesaling business fly off.