How To Wholesale Real Estate Part 3: Plan for 3-24 Months Before Closing Your First Wholesale Transaction with Eric Lindsey

How To Wholesale Real Estate: Plan for 3-24 Months Before Closing Your First Wholesale Transaction with Eric Lindsey Part 3Episode Summary: This episode explores the importance of earnest money deposits in real estate wholesaling 🏡. Eric discusses how these deposits indicate buyer commitment and the need for careful deal evaluation and conservative estimates.Balancing Full-Time Job and Side Hustle:Time Management: Prioritize and set clear goals ⏰.Strategic Planning: Break down projects into manageable tasks 📝.Conservative Approach: Prepare for delays and challenges 🚧.Four Steps of Wholesaling:Earnest Money Deposit: Shows commitment 💵.Deal Evaluation: Use the 70% rule 🏠.Closing: Legal and administrative steps 📜.Reselling: Find and Use Cash Buyers 📈.Coaching Insights:Earnest money deposits vary and show commitment 💼.Evaluate properties using the 70% rule 🏡.Expect deals to take 90-180 days before closing your first property 📆.It could take 12-24 months to close on your first wholesale transaction, so patience is key 🕰️.Explore strategies like hoteling and OPM 🔍.Key Takeaways from Eric’s Experience in Real Estate Wholesaling and How You Can Use Them:Commitment: Earnest money deposits are crucial 📉.Evaluation: Proper deal evaluation is key 🔨.Patience: Be prepared for delays; it may take 90-180 days or even 12-24 months to close your first wholesale transaction 🕰️.Strategies: Understand various wholesaling methods 📊.Negotiation: Always aim to get the property as cheap as possible 💰.Website: https://ericlindseyml.com/Click On The Link Below To Schedule A Call With Eric:https://calendly.com/moonlightequitiesgroup/scheduled-conversationClick On The Link Below For More Information About Eric Lindsey:https://linktr.ee/ericlindsey