With millions of Americans unemployed, and facing possible long term unemployment there is a multitude of uncertainty in 2020. Now when we as a society break down what an actual real estate wholesaler is it is a very simple process. In real estate wholesaling, a wholesaler contracts a home with a seller, then finds an interested party to buy it. The wholesaler contracts the home with a buyer at a higher price than with the seller, and keeps the difference as profit. Real estate wholesalers generally find and contract distressed properties locally, and virtually as well. The term motivated sellers is becoming an ever-growing thing nowadays for various reasons. A motivated seller is a homeowner who is motivated for multiple reasons to sell their property at a significantly lower price. One of those reasons happens to be is there are a multitude of tired landlords who are fed-up bad tenants, maintenance issues, and so on. Another reason for a homeowner to become a motivated seller would stem from individuals being priced out of certain metropolitan areas of the United States of America. A property may have been inherited by a family member due to an unfortunate death in the family. The property may have been deemed condemned. The taxes on the property owned have exceeded twenty thousand dollars, to the point the owner(s) are ready to move on to greener pastures in life. I have gone over the definition of what a real estate wholesaler job is, and what motivates a person to become a real estate wholesaler.
However, there is so much more involved when a homeowner agrees to sign an assignment contract with a wholesaler. One example that Patterson L. Properties LLC. was involved with a previous client. The client property was condemned by the city, and the taxes that were owed were 17,000 dollars. In this instance, we knew that the sellers were in a bind, and we were in a position to help them. We helped the sellers find temporary housing to ensure that they would not end up on the street. As a real estate wholesale company our usual commission targets round-up to 10-20k. However, in this situation, we wholesaled the property for 21,000 dollars totaling a 4,000 dollar commission. With situations like these, it’s not always about the money, it’s about helping people. If you find yourself in this situation, always remember that Patterson L. Properties LLC. is here to help. Please always remember that business is business, but helping people is our number one reason why we go out of our way to help motivated sellers. Please contact Patterson L. Properties, if you’re an investor, motivated seller, or wholesaler within the Washington D.C., Maryland, northern Virginia (DMV) area. Wholesaling real estate is not only about assignment contracts, and closing dates, but it’s all about helping people. Please contact us for any and all wholesale real estate investment opportunities via email at PttrsLr1@gmail.com
