From a resale perspective, after a kitchen, bathrooms tend to be the 2nd most important room in a house. They are also the 2nd most expensive room to rehab due to wide variety of materials, skills and laborers involved. Unless the bathroom is in excellent shape, it is recommended to replace majority of its components.

Many beginning investors have doubts about the viability of wholesaling properties in their marketplace. Many think wholesaling will not work in their area for one reason or another. I can tell you I have students all around the country who are using my techniques and are finding great wholesale deals every single day. I have students in Anchorage, Alaska, to Miami, Florida, who are all using my wholesaling for quick cash systems with the same success.

Lets pick up where we left off, discussing the three key components of successful real estate flipping. Remember real estate investing is for anyone who is willing to learn, however, if you learn the wrong strategies or focus on areas that do not make you money you will never make it. It’s true, the first million is always the hardest, after that it becomes easy to replicate the steps and decisions that worked and avoid the ones that didn’t work. Once we know where our time is best spent, then every decision is optimized and your ROI (Return on Investment) is always high.

Flipping properties and managing contractors is a fast game. If you can’t figure out your head from your bottom, you will lose your shirt or worse yet your shirt will be ripped off your back while flipping your first house. First and foremost we must become experts at locating and prescreening contractors; quality, mature, adult contractors. If this is done right, the probability of the rest of your house flipping project being a success increases ten-fold. When you work with competent people you are able to utilize your time and leverage your ability while flipping a property.

Wholesaling is an invaluable way to learn the real estate business and all the creative aspects of what it has to offer without having to risk much of anything. From discounting mortgages to double closings, you will learn everything there is to know about completing complicated multi-party transactions.

I received some emails from a few curious investors concerning my last article about wholesaling. As a result I feel I must expand further on the benefits of wholesaling further due the fact that some people think you need financing, good credit, and a lot of free time in order to become a real estate investor. So let me dispel that notion and share with you some more benefits of wholesaling.

There are many different niches of real estate investors specialize in. Some investors prefer rehabbing, others choose to lease option, and others only buy and hold. All niches can be extremely profitable if you educate yourself and purchase the property below market value. However, in my opinion wholesaling is where all investors should start out.