Let's check out some of the most tasteful abodes of the week from /r/malelivingspace

[–]butterflydaisy33 210 points 5 days ago

Wholesaling? Can we unpack that?

[–]eldankus 497 points 4 days ago

Wholesaling is essentially finding deals on behalf of other investors for a fee or percentage.

Simple example: You find a house that needs a lot of work and wouldn't qualify for traditional financing. Say it's in a neighborhood that the average home price is $500k and because it's a POS you offer $200k knowing it's going to cost $150k-$200k to fix. You get it under contract to buy at $200k. Let's say you know you could have still made money at $215k, so you find someone who is willing to buy it at $215k and they'll do the rehab and sell it. You either assign the contract to them or do a double escrow and net out $15k. Then you move on to finding the next deal and you didn't spend a dime.

This is a simplified explanation and finding and negotiating the deal is the difficult part, a lot of people try wholesaling and make zilch. Lots of RE gurus sell courses on wholesaling because it's the dropshipping of real estate.

[–]lachyTDI7 710 points 4 days ago

I'm sorry but I fricking hate that people make living this way contributing no value to anything and playing games with housing. Obviously if it's legal and you can do it more power to you but I personally find it suspect.

>person finds deals for others and gets paid for it

>this is bad somehow

!freemarket, look at the ledditor and the points ratio in favor of leftoid nonsense.