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There are few better ways to make money from real estate than establishing a wholesale real estate business. Wholesaling requires no money down, no credit, and no licensing. A real estate wholesaler’s success is predicated almost entirely upon hard work, good judgment, and a reliable network of buyers. But where to begin?
You Need Buyers

Unlike traditional real estate investing, where an individual or a business takes physical ownership of a property, improves it, then sells it for a profit (a practice more commonly referred to as “flipping”), a wholesaler merely enters into a contract to purchase a property that for any number of reasons (foreclosure, in need or repair, motivated seller) is selling below what it is worth.

The wholesaler then finds a buyer who is willing to take over the contract (and pay for the privilege). The real estate wholesaler is paid a small percentage of the spread between the asking price and true value of the property. Thus, the wholesaler makes some cash while the buyer is still able to secure a very good deal on the transaction. The key to real estate wholesaling success is being able to quickly locate and secure those buyers.

How Do You Get Your Buyers?

There are several ways to build your buyer list. Networking with local and national real estate investing organizations is a very good place to start. By joining these organizations, you not only have access to potential buyers, but also can draw upon the expertise of those who have been in the business much longer than you. There’s no sense in trying to reinvent the wheel. Wholesalers should also network with local contractors, real estate developers, and property management companies, all of whom would likely be interested in taking advantage of a good deal.

Another valuable resource is classified advertisements, both print and online. Real estate investors peruse their local newspapers for certain keywords in the ads, such as “motivated seller,” “great deal,” and “fixer-upper.”

If you want to avoid even the small costs associated with placing newspaper classifieds, real estate investors commonly turn to free electronic classified services, such as craigslist.com and backpage.com. These services will also open up your property to a nationwide network of potential buyers. Effective text for an ad could read, “Selling Houses at HUGE discounts – Investors Needed for Amazing Opportunities.” It would be lunacy to neglect such a powerful advertising tool.

If you have a real estate website, you can gather potential buyers via an opt-in newsletter. A newsletter can help you build a relationship with and eventually sell to a group of targeted real estate buyers. You can also try email marketing and PPC campaigns.

This is by no means an exhaustive list of the ways one can build a client buyer list – the only limitation is in the imagination of the entrepreneur. And when building your buyer list, be sure to secure the name, email address, fax number, and address of potential investors. Build an email contact list you can use to quickly spread the word once you have a property to sell.

Even in difficult real estate markets, there are fantastic opportunities to make money for those willing to put in the hard work. If wholesale real estate investing seems like your cup of tea, then it all begins with building a reliable buyers list.

There has never been a better time to earn money by working at home. However, the increased accessibility of home-based businesses does not mean instant success. Individuals who wish to see real results with their home-based business need to be well versed in all aspects of their chosen business. Starting with knowing the product and understanding how to set up a business, entrepreneurs need to go to the next level and realize the value of goal setting.Know Your GoalsThe power of goal setting is tangible in every workplace, from the private sector to the governmental realm. Goals help define purpose and they provide a path to success. For a home-based business, goals should come in many forms, from the number of clients procured in a month to the total amount of money earned. When setting these goals, there are several key factors to remember in order to create goals that engender success.Create Realistic ExpectationsAll businesses should start by being realistic. Home-based business owners should consider the product being offered, the experience needed, and the time being devoted to the business when setting goals. A full-time home-based business should have higher expectations than one only being operated on the side. Individuals need to take into account how much time it will take to get set up and how difficult it will be to build a client base, then scale their expectations appropriately. Some aspiring individuals may set the highest goals possible as a means of incentive. However, unrealistic goals can create a sense of disappointment and futility. If the goals are unreachable, then it is easy to lose motivation to strive for them. Realistic goals can help prevent the feeling of failure that can lead to the demise of even the most innovative home-based businesses.Aim to EmpowerWhile being realistic with goals for a home-based business is important, it is also imperative not to set the goals too low. Goals should be designed for empowerment. This means that the goal must motivate the individual to keep working and pushing to new levels of success. If goals are too easy to reach, it is easy to get lazy and lax in one’s business habits, leading to stagnancy in the business model. It can be difficult to find just the right place to set goals, but it can be helpful to build goals up progressively, with goals that increase somewhat each month. This way, entrepreneurs are continually challenging themselves to reach new heights of success.Build Time for ReflectionOne of the ways to find the right balance with goals is to always allow appropriate time for reflection. Goals should not only be used as a motivation, but also as an indicator of growth and progress. A smart goal will always have a definitive timetable, such as a month or a year. For these goals to be truly worthwhile, individuals must always reflect on the goal at the end of the time period. Things to consider during reflection are whether or not the goal was met, if the goal was too easy or too hard, and what things contributed to or detracted from meeting the goal. By analyzing these factors, it is easy to tailor one’s business model and to make the necessary adjustments to grow in the future.