Building Wealth after 50, A guide to Real Estate Investing Wholesaling & Assignments

Building Wealth after 50 –  A Guide for Women Over 50 to Wholesaling and Assigning Contracts

Are you a woman over 50 looking to embark on a new investment journey, generate extra income, or even build legacy wealth? Real estate investing may be the perfect opportunity for you. In this blog post, I’ll walk you through one of my favorite investment strategies: wholesaling and assigning contracts. Let’s dive in!

Introduction to Wholesaling and Assigning

As women over 50, we bring invaluable skills to the table—our ability to communicate effectively, establish trust, and exude confidence sets us apart in the world of real estate investing. Wholesaling, also known as assigning contracts, is a swift and accessible investment method that requires no initial capital. It’s a fantastic way to begin your journey into real estate without financial barriers.

What is Wholesaling and Assigning?

Wholesaling is quite simple. You find a property under market value, put it under contract, and then assign that contract to an end user—essentially selling the paper. The end user, who might be an investor or a homebuyer, takes over the contract, benefiting from the potential of the property.

Why Choose Wholesaling and Assigning?

For many sellers, working with an investor rather than a realtor offers advantages such as avoiding the hassle of showings or dealing with properties that are difficult to sell traditionally. Our role is to locate these opportunities and connect with potential buyers through specialized marketing strategies.

How to Get Started

1. **Networking and Marketing:** Utilize your existing network and expand it by joining real estate investor groups both online and offline. Begin conversations, and use platforms like Facebook to advertise properties.

2. **Building Your System:** Develop a reliable marketing system and a buyer pool. Allying with a good real estate agent could also provide opportunities.

 3. **Finding Properties:** Search for properties needing renovation or those that owners are eager to sell quickly due to various personal reasons.

4. **Contract Basics:** Secure the property under a contract, ensuring all requirements are disclosed to the seller. Money to bind the contract should be agreed upon—this could vary as earnest money or escrow.

The Wholesaling Process

Once you have a property under contract, you’ll market this to potential buyers highlighting the property’s worth once renovated. Be transparent about all costs involved, such as repair costs, holding fees, and your wholesaling fee. This creates a compelling proposition for the buyer, ensuring each party sees the potential profit.

Creating Competition

Set clear time windows for potential buyers to view the property. This can instill a competitive atmosphere, encouraging quick offers. Remember, not all properties will suit every investor’s portfolio, which is why having multiple prospects is beneficial.

Building Relationships and Scaling Your Business

Networking elevates this business strategy—maintain relationships with other investors for mutual growth. Expand your network as your business flourishes, opening doors to future investment opportunities.

Conclusion

Wholesaling and assigning contracts offer an ideal entry into real estate investment, particularly for women over 50 seeking new opportunities or supplemental income. It hones essential skills and establishes a network pivotal for broader real estate endeavors. Begin this empowering journey towards understanding real estate dynamics and setting your sights on creating your future empire.

Thank you for joining me here today. Remember to follow the ‘For the Win’ podcast and share it with your network. Each of you is a remarkable force, and I look forward to our next discussion. Keep embracing your inner winner!

Sincerely,

Karen S. Schaefer
Founder, W.I.N! ; The Women’s Wealth and Impact Network