This content was created by Joe Homs 949-625-4533. This content was uploaded by Joe Homs 949-625-4533. This is a YouTube video titled "100K Over Asking ?! | Wholesaling REAL ESTATE In A Seller's Market" (uploaded 2022-02-22) presented by Joe Homs (JOE HOMS 949-625-4533). It's a solo instructional real-estate video aimed at new and experienced investors about wholesaling in a hot seller's market. Joe explains why distressed properties are opportunities wholesalers should target, listing three main reasons retail/on-market buyers avoid them: extensive repairs (hoarder-like conditions), inability to qualify for conventional financing (uninhabitable issues), and complex problems like nonpaying tenants, foreclosure, or probate. He encourages learning how to work these deals, not dismissing opportunities, and includes calls to action to like/subscribe and watch another video for lead lists and further help.
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In today's video, I'm talking about wholesaling real estate in a seller's market, coming up next. In today's crazy hot market, I hear a lot of new wholesalers complain that there's no way that you can find a deal when people are bidding $100,000, $200,000, and even $300,000 over asking with multiple offers. It's too saturated. It's too competitive. There's no way a seller will sell at a discount. But there's a very key element missing from this conversation. Before we start, make sure you hit that little like button and subscribe. I made this channel for the new and experienced investor, those who want to create the life they've always wanted through real estate. When we're talking about wholesaling or even flipping, you always want to remember that we specialize in working with distressed properties and distressed situations. Let's go over a few reasons why retail Or on-market buyers won't want these types of properties and why finding these properties are your key to success. Reason number 1, there's too many repairs. I've been to many houses where literally, if you've ever seen that show about hoarders, that's what it looks like. And very, very bad situations. I just have to wonder how People are living like this, but they are, and those are the best deals. A retail buyer is not even going to touch something like that. They're just too afraid of what's, what's behind the wall that they can't see. And then that's where people like me and people like you come in and grab that deal. Number 2, and very important, these properties do not qualify for conventional financing. At all. Conventional financing, you have to have a livable condition. Yes, they're still there, but many times a lot of the appliances don't work. The toilet barely works. There may be not heat in the house. So a conventional finance loan is not something that the bank is going to give you for a property like this. Number 3, there may be hard problems to solve. Maybe there's tenants in there and they haven't been paying their monthly rent for a year or more. Maybe the property's in foreclosure. Maybe it's a probate sale. These are types of deals that are not the everyday norm. So learn how to work these deals, learn how to put them together. Do this so that you can become a successful wholesaler. Don't talk yourself out of a deal before you even try. There are plenty of ways to find distressed properties. If you're new to wholesaling and want to see how to find these properties, click on this video right here. I'll go over the best list to use to find your next deal. If you have any problems, make sure to reach out. I'm always here to help.
