Archives for September 2020
Thoughts On Wholesaling
Hey everyone. I wanted to share some thoughts on the topic of wholesaling.
I have a bit of a love-hate relationship with the world of wholesaling. This is mainly because, while wholesaling can serve a useful purpose in the real estate world, it can turn into a slippery slope when it comes to maintaining integrity.
Wholesaling often includes 2 components: (1) Getting something under contract for under market value and then (2) exiting out of the deal without closing on the property. In this scenario, the wholesaler makes his/her money in the spread between the offer price to the property owner and the purchase price set up with the investor.
And it’s in the first point above where things can get slippery.
In order to get a real estate holding under contract for under market value, the wholesaler often has to seek out sellers who are in a distressed situation. Maybe they have medical bills to pay. Maybe they’ve lost their job and they need cash quickly. Whatever the case, for the “average” wholesaler to make money, he/she has to seek out and capitalize on these distressed sellers.
Now I’ll say this again: wholesaling in itself serves a purpose in the market. A distressed seller may be very eager to take a hit on the value of their property in order to get cash quickly. But I’ve spoken with a lot of wholesalers and that is commonly one of the main areas of the strategy where they struggle.
Our strategy in land deals, which we teach in our coaching program, Land Deals Revealed, shares a common point with home wholesalers: We put residential land deals together where we don’t need to provide the funds necessary for closing on the property and funding the construction of the subdivision.
But a big difference is that we don’t need to go out and find distressed sellers. We don’t need to put deals together at under market value. Our strategy allows us to put deals together at full market value and still make 5 to 7-figure returns.
There are many other differences between what we do, compared to the typical “wholesaling” deal, especially when it comes to exit strategies. But the “slippery” factor is removed by fact that we don’t need to go out and find deals at 30 cents on the dollar.
If you’d like to learn more about how we do this, check out our video presentation here.
Posted by Cody Bjugan – VESTRIGHT on Tuesday, September 8, 2020
Hey everyone. I wanted to share some thoughts on the topic of wholesaling.
I have a bit of a love-hate relationship with the world of wholesaling. This is mainly because, while wholesaling can serve a useful purpose in the real estate world, it can turn into a slippery slope when it comes to maintaining integrity.
Wholesaling often includes 2 components: (1) Getting something under contract for under market value and then (2) exiting out of the deal without closing on the property. In this scenario, the wholesaler makes his/her money in the spread between the offer price to the property owner and the purchase price set up with the investor.
And it’s in the first point above where things can get slippery.
In order to get a real estate holding under contract for under market value, the wholesaler often has to seek out sellers who are in a distressed situation. Maybe they have medical bills to pay. Maybe they’ve lost their job and they need cash quickly. Whatever the case, for the “average” wholesaler to make money, he/she has to seek out and capitalize on these distressed sellers.
Now I’ll say this again: wholesaling in itself serves a purpose in the market. A distressed seller may be very eager to take a hit on the value of their property in order to get cash quickly. But I’ve spoken with a lot of wholesalers and that is commonly one of the main areas of the strategy where they struggle.
Our strategy in land deals, which we teach in our coaching program, Land Deals Revealed, shares a common point with home wholesalers: We put residential land deals together where we don’t need to provide the funds necessary for closing on the property and funding the construction of the subdivision.
But a big difference is that we don’t need to go out and find distressed sellers. We don’t need to put deals together at under market value. Our strategy allows us to put deals together at full market value and still make 5 to 7-figure returns.
There are many other differences between what we do, compared to the typical “wholesaling” deal, especially when it comes to exit strategies. But the “slippery” factor is removed by fact that we don’t need to go out and find deals at 30 cents on the dollar.
If you’d like to learn more about how we do this, check out our video presentation here.
To Change The Story…….
Realtors Must Diversify
The average real estate agent focuses on the purchase and sale of homes.
They’re often confined to a small market area.
The competition is fierce.
Most of us can name at least a few agents, whether it's a family member or a friend or a soccer mom. The market is saturated.
On the other hand, a friend of mine is a real estate agent but he specializes in land.
He’s not bound to a radius around his own community. He’s in a rare category. He knows something that not many agents know.
He knows land.He’s able to determine if a piece of property has development potential. He can put value to the land. He has a network of buyers. He knows the structure of the deal and what the developer needs which allows him to meet with a property owner and correctly and efficiently guide them all the way through the entire process from beginning to end.
Again, there just aren't many agents that know land and so he just doesn't have a lot of competition. And because he doesn't have to physically be on site for a showing, he is able to put deals together across each state that he is licensed. He is not bound to one city or one market area.
Development land deals tend to come with much higher price tags than an average sale of a home. This means his commission checks are much higher than the typical broker. He’s often in the 6 figures on his commissions.
Because he knows the industry and he knows the buyers, he is able to bring the buyer in. This creates a situation where there is no buyer’s real estate agent attached. That means he’s not splitting the commission.
The average real estate agent makes an average of $60 to $100 grand a year. A broker that knows land can make that with one commission check!
The issue has been that there just hasn't been anything out there to help real estate agents learn how to broker these land deals.
But with our program, Land Listings Unleashed, VestRight gives you everything that you need in order to diversify and give yourself an extra layer of protection against market swings. Not to mention, adding income to your revenue stream is never a bad idea!
If you are a real estate agent or broker and you don't know land or it's a weakness of yours, you need to check out our course. You can do this by watching our video presentation here: https://shrtlnk.co/YCy6d
Posted by Cody Bjugan – VESTRIGHT on Thursday, September 3, 2020
The average real estate agent focuses on the purchase and sale of homes.
They’re often confined to a small market area.
The competition is fierce.
Most of us can name at least a few agents, whether it's a family member or a friend or a soccer mom. The market is saturated.
On the other hand, a friend of mine is a real estate agent but he specializes in land.
He’s not bound to a radius around his own community. He’s in a rare category. He knows something that not many agents know.
He knows land.
He’s able to determine if a piece of property has development potential. He can put value to the land. He has a network of buyers. He knows the structure of the deal and what the developer needs which allows him to meet with a property owner and correctly and efficiently guide them all the way through the entire process from beginning to end.
Again, there just aren't many agents that know land and so he just doesn't have a lot of competition. And because he doesn't have to physically be on site for a showing, he is able to put deals together across each state that he is licensed. He is not bound to one city or one market area.
Development land deals tend to come with much higher price tags than an average sale of a home. This means his commission checks are much higher than the typical broker. He’s often in the 6 figures on his commissions.
Because he knows the industry and he knows the buyers, he is able to bring the buyer in. This creates a situation where there is no buyer’s real estate agent attached. That means he’s not splitting the commission.
The average real estate agent makes an average of $60 to $100 grand a year. A broker that knows land can make that with one commission check!
The issue has been that there just hasn't been anything out there to help real estate agents learn how to broker these land deals.
But with our program, Land Listings Unleashed, VestRight gives you everything that you need in order to diversify and give yourself an extra layer of protection against market swings. Not to mention, adding income to your revenue stream is never a bad idea!
If you are a real estate agent or broker and you don't know land or it's a weakness of yours, you need to check out our course. You can do this by watching our video presentation here.
Something You’re Thankful For…..
Keep Going!
Dreams and Goals: GO AFTER IT!
I just wanted to encourage you today to keep going! Keep pushing!
Whatever it is that you are aiming for, whatever goals you have. Whether it's in real estate or land deals or whatever…just don't give up!
At the end of the day, if you want it enough, you have to GO AFTER IT!
Sometimes we can be very excited and hungry to start heading towards our goals. Then we hit a setback and we tend to give up and put our tools away.
Don’t let that happen to you!
I am high school educated. I don’t have a college degree or formal education. I’m an ordinary dude from a small town.
I’ve failed many times and I continue to fail. But I am hungry and I continue to go after my dreams despite my roadblocks!
You will learn more through your failures than you will through your wins. So, don’t put down your tools. Keep going!
If you would like to find out more about our course, Land Deals Revealed, where we will walk you through all of the steps, the best place to start is to watch our presentation video here: https://shrtlnk.co/KuwiM.
Or if you are a real estate agent looking to expand your portfolio and you want to learn more about our coaching program, take a look at our video presentation here: https://shrtlnk.co/YCy6d
At VestRight, we don’t teach you how to get rich quick but we give you the tools needed to work your way to those 6 & 7 figure returns.
Posted by Cody Bjugan – VESTRIGHT on Tuesday, September 1, 2020
I just wanted to encourage you today to keep going! Keep pushing!
Whatever it is that you are aiming for, whatever goals you have. Whether it's in real estate or land deals or whatever…just don't give up!
At the end of the day, if you want it enough, you have to GO AFTER IT!
Sometimes we can be very excited and hungry to start heading towards our goals. Then we hit a setback and we tend to give up and put our tools away.
Don’t let that happen to you!
I am high school educated. I don’t have a college degree or formal education. I’m an ordinary dude from a small town.
I’ve failed many times and I continue to fail. But I am hungry and I continue to go after my dreams despite my roadblocks!
You will learn more through your failures than you will through your wins. So, don’t put down your tools. Keep going!
If you would like to find out more about our course, Land Deals Revealed, where we will walk you through all of the steps, the best place to start is to watch our video presentation here.
Or if you are a real estate agent looking to expand your portfolio and you want to learn more about our coaching program, take a look at our video presentation here.
At VestRight, we don’t teach you how to get rich quick but we give you the tools needed to work your way to those 6 & 7 figure returns.