How much does a real estate wholesaler earn? According to Houzeo, it’s around $53,805 a year. If you are new to the world of real estate, then know that wholesale real estate is your fast-track financial freedom if you execute the right strategies. 2024 appears to be an exciting time to start. As experienced transactional lenders, we’re here to share a few reasons you should consider diving into real estate wholesaling this year.
What Is Real Estate Wholesaling?
Real estate wholesaling bridges homeowners struggling to sell their distressed properties and investors looking for profitable real estate deals. These investors seek properties they can purchase at a discount, renovate, and either sell for a profit or turn into rental properties. Real estate wholesalers facilitate this connection between the homeowner and the investor. The process entails actively searching for distressed properties and building a network of interested investors.
Typically, your responsibilities will include negotiating a purchase price with the homeowner and securing a buyer through a contractual agreement. You earn a profit based on the margin between the agreed-upon price and the eventual sale price, which is, essentially, your commission.
Why 2024 Could Be Your Year for Real Estate Wholesaling?
- Rising Home Prices: According to NAR, home prices are projected to increase by 2.6% in 2024. The uptick can boost your chances of assigning your contract to a cash buyer at a higher price.
- Profit Without Investment: Wholesaling allows you to profit without investing in properties. You secure the contract with the seller and pass it on to the investor. This could earn you an assignment fee of up to $20,000.
- Strong Job Market: Economic forecasts indicate a robust job market in the upcoming year. This translates to more people with stable jobs and higher incomes, making homeownership more attainable. Consequently, property values may rise, benefiting wholesalers.
- Lucrative Deals: With the right property and buyer, each deal could yield profits of up to $20,000.
- Minimal Capital Required: Unlike traditional real estate ventures, wholesaling demands minimal upfront capital. You’re not purchasing the property itself, just the contract.
- Speedy Returns: Wholesaling offers quicker turnaround times than traditional real estate investments. Bid farewell to waiting months or even years for returns.
Start Your Wholesale Real Estate Venture in 2024 With Reliable Financing
Wholesale real estate offers a promising path forward for individuals committed to achieving success in real estate this year. Yet, obtaining dependable funding can be daunting, leaving you uncertain about your prospects.
Financial obstacles should hinder no aspiring real estate enthusiast. DoubleClose.com can be a trusted partner for the best transactional funding throughout the United States. We grasp the challenges you encounter and are here to support you with our flash funds in managing the financial aspects of wholesaling in 2024.