Steve D. Valentine walks through a real estate wholesale deal where an agent makes $10,000 for introducing a cash buyer to a seller netting $295,000. The buyer covers closing costs and gets a turnkey rental with 10% equity built in.
right now before June 1st, if you have a cash buyer or you're a cash buyer, or you want to buy this as a rental property with hard money for $295,000, you absolutely could. And in that $295,000, you're going to net a $10,000 wholesale fee or referral fee. That's what we do. We give you a referral fee and that's what we pay you for introducing the buyer. And then we net sellers. So seller's net is $295,000. When you bring that to a buyer, It's $295,000 net. There's no additional commissions you have to put on. You get a 3% referral fee or the $10,000 referral fee here, and then your buyer pays for all the closing costs, which is probably about 1% in this situation. So they're going to be all into this thing for about $297,000 with the ability to just rent it out the way it is if they wanted to. It's turnkey. And by the way, at $295,000 or $297,000, they are picking up about 10% equity.
It’s Not What Your House Is Worth; It’s What It Can Do for You (Pause, Identify, Respond)
