💸 Entrepreneurs & Professionals looking to get started and work closer with Ryan’s team, APPLY HERE: ➡ www.realestateskills.com/apply?el=htcywopfc 🏠 Get the EXACT CALCULATOR we use for our wholesale deals: ➡ www.realestateskills.com/calculator?el=htcywopfc
Hi Khan Wick! Thanks so much for the kind words! We’re glad to hear you found the video helpful as a beginner. We’ve got plenty more content to help guide you through your real estate journey, so feel free to reach out with any questions. Keep up the great work, and happy investing!💙
pure gold, pls keep up the amazing videos guys, I do have one question though. I live in the UK and I tried to use the MLS and it doesn't work. What would you recommend is the best MLS equivalent for somebody like me who lives in the UK?
Hi there! Thanks for the kind words! While the MLS (Multiple Listing Service) is a US-based system, the UK has its own platforms that function similarly. Instead of using the MLS, here are some of the best alternatives for accessing property listings in the UK: Rightmove - This is one of the largest and most comprehensive property portals in the UK. Zoopla - Another popular platform where you can search for properties, market data, and even property values. OnTheMarket - A growing platform that offers property listings from across the UK. PrimeLocation - More focused on high-end properties, but another solid option for UK property listings. These platforms are great for browsing real estate, similar to how you would use the MLS in the US. Hope this helps!💙
im 14 wanting to do wholesaler real estate and i watch your videos to learn because it helps me the most do you know how i can find a mentor that can help me get my first whole sale deal
Hi there! It’s awesome you're getting into wholesaling at a young age! Here’s how you can find a mentor: Attend Local Meetups: Look for real estate meetups in your area on Meetup.com or Facebook groups. Many experienced investors attend these events. Join Online Communities: Get involved in real estate groups on Facebook, Reddit, or Bigger Pockets to connect with experienced investors. Offer Help: Reach out to local wholesalers and offer to assist them with tasks to gain experience and build relationships. Use Social Media: Engage with real estate investors on platforms like Instagram, RUclips, and LinkedIn to build connections. Stay persistent, keep learning, and you’ll find the right mentor! Hope this helps!💙
Hey guys, great video. I wanted to ask - if you plan on co-wholesaling, and your partner's responsibility is to find the investors - how should you find out / fill in the investors needs? I have a mentor that is willing to help find investors, but I don't know those investors at all - so it's hard to find good properties/numbers to run without first knowing what numbers are good for them. Any suggestions for this situation?
Hi there! Great question! When co-wholesaling, it's key to understand your investors' buying criteria. Since your mentor is finding investors, ask for details like: Price range Preferred property types Location Desired condition and ROI or ARV (After Repair Value). Use a Cash Buyer Intake Form to organize this info for quick reference when analyzing deals. Stay in regular contact with your mentor to align on buyer needs, and, if possible, communicate with the investors directly. In the meantime, run numbers based on typical fix-and-flip margins: 70% of ARV minus repair costs. Adjust your approach as you learn more about each investor's preferences. For more info, check out: www.realestateskills.com/blog/cash-buyers Hope this helps!💙
Hi Correy! Great question! As a wholesaler, you typically do not have to put up your own funds for the deposit when you're assigning contracts. Here's why: In most cases, your end cash buyer (the one you're assigning the deal to) will be responsible for covering the earnest money deposit once they take over the contract. However, if you're locking up the property under contract initially, you might be asked to provide an earnest money deposit (EMD) to secure the deal with the seller. Here are some key points: Upfront EMD: You may need to submit a small earnest money deposit when you first sign the Purchase Agreement with the seller. This can range anywhere from $10 to $500, depending on the deal. Deposit Transfer: Once you assign the contract to your cash buyer, their deposit typically replaces yours, or you can arrange to have them directly take over that responsibility. Minimizing Risk: If you're concerned about putting up money, you can negotiate a low EMD or use creative strategies like getting the deposit from the buyer before signing the assignment contract. For more info on working with cash buyers and assignment contracts, check out our blog: www.realestateskills.com/blog/assignment-of-contract Hope this helps!💙
Hello good people i was wondering if you can make a video on how to negotiate with real estate agents. I watched your video on how to negotiate with cash buyers and i was wondering if you can make a video about negotiating with real estate agents
Hi there! Thanks for the suggestion! Negotiating with agents is crucial, especially with on-market deals. While we haven’t made a video on this yet, here are some tips: Build Rapport: Strong relationships with agents can lead to better deals. Leverage Data: Bring market insights to back your offer. Be Transparent: If you're wholesaling or flipping, be upfront about your strategy. Seek Win-Wins: Aim for deals that benefit both you and the seller.
Hi Jo ana! Wholesaling profits are taxed as ordinary income, not capital gains, meaning you're taxed at your regular income tax rate. You report profits on Schedule C (or Form 1120S for S-corps). You'll also owe self-employment taxes unless you're paying yourself a salary through an S-corp. You can deduct business expenses like marketing and transportation, and it's important to pay quarterly estimated taxes to avoid penalties. Be aware of state-specific laws around wholesaling, especially regarding licensing. Hope this helps!💙
Amazing content, i have a question, i am going to start virtual wholesaling soon, how can i recive my wholasale fees in my bank as i don't live in USA..
Hi there! Great question! Here are a few ways to receive your wholesale fees while living outside the USA: Wire Transfers: The title or escrow company can wire your fee directly to your international bank account using your IBAN or SWIFT code. Payment Platforms: Services like PayPal or Wise can be used for fast, international transfers with good exchange rates. U.S. Bank Account: Consider opening a U.S. account through online banks like Mercury or Wise to simplify payments. Check with the title company or buyer on their preferred method. Good luck with your virtual wholesaling! Cheers!
Hey guys. Please help me out here as I am a little lost. When you give an offer to the cash buyer, say for $110k and you have the contract at $100k from the seller, when you list $10k as your wholesale fee, does that change the total to $120k? Or is your 10k assignment fee baked into the 110k? Thanks so much yall
Hi Benjamin! Great question! When you offer the property to a cash buyer for $110k, your $10k assignment fee is already baked into that total price. This means the buyer pays $110k total, not $120k. Here's how it works: You have the property under contract with the seller for $100k. You assign that contract to the cash buyer for $110k. The $10k difference between your contract with the seller and the buyer’s price is your wholesale fee, which comes out of the $110k the buyer pays. So, in summary, the cash buyer will pay $110k, and you will earn the $10k as your wholesale fee after the deal closes. Hope this clears things up! Keep crushing it! For more info, you can check out our blog on assignment of contract: www.realestateskills.com/blog/assignment-of-contract
Hi, had a question. Have a friend of mine who's also doing the mls strategy for wholesaling. But he had an agent say that he needs to sign an agreement between them before submitting an offer. Is that normal, never heard of it before on this channel. What could it be?
Hi Brandon! Great question! It’s very common for agents to request a Buyer’s Representation Agreement before submitting offers on the MLS. This agreement ensures the agent gets compensated for their work and formalizes their role in representing you. Buyer representation agreements are now required to be signed when working with a buyer’s agent before touring houses and submitting offers. Hope this helps!💙
Hello Real Estate Skills! I’m trying to use your Deal Calculator but it’s not letting me enter any information on it. Can you help me please? I sent a edit request.
Hi there! Thank you for reaching out! It sounds like you're trying to edit the Deal Calculator, but it may currently be in view-only mode. To resolve this, here's what you can do: Make a Copy: Click on File > Make a copy. This will create an editable version in your own Google Drive, and you’ll be able to input information freely. Download the Calculator: You can also click on File > Download, then choose a format like Excel (.xlsx) if you prefer working offline. If you've already sent an edit request, you may want to try one of the methods above for faster access! Hope this helps! Let us know if you need further assistance. 😊 For more, check out our resources here: www.realestateskills.com/blog
Hi! Great News! By popular demand, we've decided to release our deal calculator for FREE for all our RUclips viewers. You can download yours by visiting: www.realestateskills.com/calculator Glad we could help and let us know of any other resources you may need. Cheers!
Hi there! Great point! The 20% rule, where investors aim to buy properties at 80% of their ARV (After Repair Value), definitely helps streamline decision-making, especially when a property needs repairs. It’s a quick way to filter deals, ensuring you leave enough margin for renovation costs and profit. However, while it's a useful rule of thumb, it’s essential to dig deeper. Each deal is unique, so always verify the numbers for repair costs and market conditions to ensure you don’t leave money on the table. Using tools like MLS or platforms like PropStream can help you refine this process further. Hope this helps!💙
Hi there! You're calculating the maximum allowable offer (MAO) for a property: ARV (After Repair Value): $100,000 25% for Buyer Profit & Costs: $25,000 (100,000 x 25%) Repair Costs: $15,000 Wholesale Fee: $5,000 Final Calculation: $100,000 (ARV) - $25,000 (profit & costs) - $15,000 (repairs) - $5,000 (wholesale fee) = $55,000 (Offer to Seller) This ensures the buyer profits, and you earn your fee. Hope this helps!💙
Hi Anduwan! Great question! It can definitely seem confusing at first. The reason a seller might take $105k instead of $120k comes down to negotiation and understanding the seller's motivation. While the seller might want $120k, they may be willing to take less if they're motivated to sell quickly. Sellers may accept a lower offer due to factors like time constraints, the condition of the property, or financial pressures. As a wholesaler, your job is to help both parties find a win-win situation, even if it means negotiating below their initial asking price. Hope this clears things up!
![How to Get a Developer Job - Even in This Economy [Full Course]](http://i.ytimg.com/vi/6nz8GXjxiHg/mqdefault.jpg)
![How To Find Cash Buyers For Wholesale Deals! [FREE & ONLINE]](/img/1.gif)
💸 Entrepreneurs & Professionals looking to get started and work closer with Ryan’s team, APPLY HERE: ➡ www.realestateskills.com/apply?el=htcywopfc
🏠 Get the EXACT CALCULATOR we use for our wholesale deals: ➡ www.realestateskills.com/calculator?el=htcywopfc
Great video guys! Thanks again for explaining this for beginners like us! 😊
Hi Khan Wick!
Thanks so much for the kind words! We’re glad to hear you found the video helpful as a beginner. We’ve got plenty more content to help guide you through your real estate journey, so feel free to reach out with any questions. Keep up the great work, and happy investing!💙
pure gold, pls keep up the amazing videos guys, I do have one question though. I live in the UK and I tried to use the MLS and it doesn't work. What would you recommend is the best MLS equivalent for somebody like me who lives in the UK?
Hi there!
Thanks for the kind words! While the MLS (Multiple Listing Service) is a US-based system, the UK has its own platforms that function similarly. Instead of using the MLS, here are some of the best alternatives for accessing property listings in the UK:
Rightmove - This is one of the largest and most comprehensive property portals in the UK.
Zoopla - Another popular platform where you can search for properties, market data, and even property values.
OnTheMarket - A growing platform that offers property listings from across the UK.
PrimeLocation - More focused on high-end properties, but another solid option for UK property listings.
These platforms are great for browsing real estate, similar to how you would use the MLS in the US.
Hope this helps!💙
im 14 wanting to do wholesaler real estate and i watch your videos to learn because it helps me the most do you know how i can find a mentor that can help me get my first whole sale deal
Hi there!
It’s awesome you're getting into wholesaling at a young age!
Here’s how you can find a mentor:
Attend Local Meetups: Look for real estate meetups in your area on Meetup.com or Facebook groups. Many experienced investors attend these events.
Join Online Communities: Get involved in real estate groups on Facebook, Reddit, or Bigger Pockets to connect with experienced investors.
Offer Help: Reach out to local wholesalers and offer to assist them with tasks to gain experience and build relationships.
Use Social Media: Engage with real estate investors on platforms like Instagram, RUclips, and LinkedIn to build connections.
Stay persistent, keep learning, and you’ll find the right mentor!
Hope this helps!💙
Hey guys, great video. I wanted to ask - if you plan on co-wholesaling, and your partner's responsibility is to find the investors - how should you find out / fill in the investors needs? I have a mentor that is willing to help find investors, but I don't know those investors at all - so it's hard to find good properties/numbers to run without first knowing what numbers are good for them. Any suggestions for this situation?
Hi there!
Great question! When co-wholesaling, it's key to understand your investors' buying criteria. Since your mentor is finding investors, ask for details like:
Price range
Preferred property types
Location
Desired condition and ROI or ARV (After Repair Value).
Use a Cash Buyer Intake Form to organize this info for quick reference when analyzing deals. Stay in regular contact with your mentor to align on buyer needs, and, if possible, communicate with the investors directly.
In the meantime, run numbers based on typical fix-and-flip margins: 70% of ARV minus repair costs. Adjust your approach as you learn more about each investor's preferences.
For more info, check out:
www.realestateskills.com/blog/cash-buyers
Hope this helps!💙
As the Wholesaler, am I putting up the funds for Deposit?
Hi Correy!
Great question! As a wholesaler, you typically do not have to put up your own funds for the deposit when you're assigning contracts. Here's why:
In most cases, your end cash buyer (the one you're assigning the deal to) will be responsible for covering the earnest money deposit once they take over the contract. However, if you're locking up the property under contract initially, you might be asked to provide an earnest money deposit (EMD) to secure the deal with the seller.
Here are some key points:
Upfront EMD: You may need to submit a small earnest money deposit when you first sign the Purchase Agreement with the seller. This can range anywhere from $10 to $500, depending on the deal.
Deposit Transfer: Once you assign the contract to your cash buyer, their deposit typically replaces yours, or you can arrange to have them directly take over that responsibility.
Minimizing Risk: If you're concerned about putting up money, you can negotiate a low EMD or use creative strategies like getting the deposit from the buyer before signing the assignment contract.
For more info on working with cash buyers and assignment contracts, check out our blog:
www.realestateskills.com/blog/assignment-of-contract
Hope this helps!💙
Hello good people i was wondering if you can make a video on how to negotiate with real estate agents. I watched your video on how to negotiate with cash buyers and i was wondering if you can make a video about negotiating with real estate agents
Hi there!
Thanks for the suggestion! Negotiating with agents is crucial, especially with on-market deals. While we haven’t made a video on this yet, here are some tips:
Build Rapport: Strong relationships with agents can lead to better deals.
Leverage Data: Bring market insights to back your offer.
Be Transparent: If you're wholesaling or flipping, be upfront about your strategy.
Seek Win-Wins: Aim for deals that benefit both you and the seller.
@@RealEstateSkills thank you folks.
Hey, I had a quick question how taxes work with wholesaling. What’s the filing process or laws
Hi Jo ana!
Wholesaling profits are taxed as ordinary income, not capital gains, meaning you're taxed at your regular income tax rate. You report profits on Schedule C (or Form 1120S for S-corps). You'll also owe self-employment taxes unless you're paying yourself a salary through an S-corp.
You can deduct business expenses like marketing and transportation, and it's important to pay quarterly estimated taxes to avoid penalties. Be aware of state-specific laws around wholesaling, especially regarding licensing.
Hope this helps!💙
Amazing content, i have a question, i am going to start virtual wholesaling soon, how can i recive my wholasale fees in my bank as i don't live in USA..
Hi there!
Great question! Here are a few ways to receive your wholesale fees while living outside the USA:
Wire Transfers: The title or escrow company can wire your fee directly to your international bank account using your IBAN or SWIFT code.
Payment Platforms: Services like PayPal or Wise can be used for fast, international transfers with good exchange rates.
U.S. Bank Account: Consider opening a U.S. account through online banks like Mercury or Wise to simplify payments.
Check with the title company or buyer on their preferred method.
Good luck with your virtual wholesaling!
Cheers!
@@RealEstateSkills Thanks alot
Hey guys. Please help me out here as I am a little lost. When you give an offer to the cash buyer, say for $110k and you have the contract at $100k from the seller, when you list $10k as your wholesale fee, does that change the total to $120k? Or is your 10k assignment fee baked into the 110k? Thanks so much yall
Hi Benjamin!
Great question! When you offer the property to a cash buyer for $110k, your $10k assignment fee is already baked into that total price. This means the buyer pays $110k total, not $120k.
Here's how it works:
You have the property under contract with the seller for $100k.
You assign that contract to the cash buyer for $110k.
The $10k difference between your contract with the seller and the buyer’s price is your wholesale fee, which comes out of the $110k the buyer pays.
So, in summary, the cash buyer will pay $110k, and you will earn the $10k as your wholesale fee after the deal closes.
Hope this clears things up! Keep crushing it!
For more info, you can check out our blog on assignment of contract:
www.realestateskills.com/blog/assignment-of-contract
@@RealEstateSkills you guys are actual heroes. Thank you so much.
Hi, had a question. Have a friend of mine who's also doing the mls strategy for wholesaling. But he had an agent say that he needs to sign an agreement between them before submitting an offer. Is that normal, never heard of it before on this channel. What could it be?
With the new NAR settlement, yes that's going to become the normal standard.
Hi Brandon!
Great question! It’s very common for agents to request a Buyer’s Representation Agreement before submitting offers on the MLS. This agreement ensures the agent gets compensated for their work and formalizes their role in representing you.
Buyer representation agreements are now required to be signed when working with a buyer’s agent before touring houses and submitting offers.
Hope this helps!💙
@@RealEstateSkillsHello Brandon what do you use the 20% against the listing price or something else
Hello Real Estate Skills! I’m trying to use your Deal Calculator but it’s not letting me enter any information on it. Can you help me please? I sent a edit request.
Hi there!
Thank you for reaching out! It sounds like you're trying to edit the Deal Calculator, but it may currently be in view-only mode. To resolve this, here's what you can do:
Make a Copy: Click on File > Make a copy. This will create an editable version in your own Google Drive, and you’ll be able to input information freely.
Download the Calculator: You can also click on File > Download, then choose a format like Excel (.xlsx) if you prefer working offline.
If you've already sent an edit request, you may want to try one of the methods above for faster access!
Hope this helps! Let us know if you need further assistance. 😊
For more, check out our resources here: www.realestateskills.com/blog
Hi! Great News! By popular demand, we've decided to release our deal calculator for FREE for all our RUclips viewers. You can download yours by visiting: www.realestateskills.com/calculator
Glad we could help and let us know of any other resources you may need. Cheers!
The 20% rule seems better If you know the property needs work It saves you a lot of time IMO
Hi there!
Great point! The 20% rule, where investors aim to buy properties at 80% of their ARV (After Repair Value), definitely helps streamline decision-making, especially when a property needs repairs. It’s a quick way to filter deals, ensuring you leave enough margin for renovation costs and profit.
However, while it's a useful rule of thumb, it’s essential to dig deeper. Each deal is unique, so always verify the numbers for repair costs and market conditions to ensure you don’t leave money on the table. Using tools like MLS or platforms like PropStream can help you refine this process further.
Hope this helps!💙
$100,000- 25% - 15,000(repair) - 5000(wholesale fee) = offer to seller ( 55,000)
Hi there!
You're calculating the maximum allowable offer (MAO) for a property:
ARV (After Repair Value): $100,000
25% for Buyer Profit & Costs: $25,000 (100,000 x 25%)
Repair Costs: $15,000
Wholesale Fee: $5,000
Final Calculation:
$100,000 (ARV)
- $25,000 (profit & costs)
- $15,000 (repairs)
- $5,000 (wholesale fee)
= $55,000 (Offer to Seller)
This ensures the buyer profits, and you earn your fee.
Hope this helps!💙
I'm a little confused guys. If the seller wants more than $120k then why would they take $105k? Sorry, this part is confusing me
Hi Anduwan!
Great question! It can definitely seem confusing at first. The reason a seller might take $105k instead of $120k comes down to negotiation and understanding the seller's motivation.
While the seller might want $120k, they may be willing to take less if they're motivated to sell quickly. Sellers may accept a lower offer due to factors like time constraints, the condition of the property, or financial pressures.
As a wholesaler, your job is to help both parties find a win-win situation, even if it means negotiating below their initial asking price.
Hope this clears things up!
@@RealEstateSkills Yes. Thank you so much