REVIEWED BY JAMES GHEEN | UPDATED ON AUGUST 19, 2019 | 10 MIN READ
What are the best books on wholesaling real estate?
More millionaires have earned their fortune through real estate investing than any other form of investment. Real estate has many advantages and benefits than other forms of investing, e.g. appreciation, tax benefits, leverage, building equity, and cash flow.
Although not a get-rich scheme or fast-money system. Real estate investing, when applied and strategized correctly through hard-work and by committing to learn and educate yourself. It can potentially be a valid method to generate wealth.
In short, real estate wholesaling is a real estate investing strategy that requires no use of money or down payment at its basic level. Real estate wholesaling is when the Wholesaler contracts with a seller and flips it to a buyer. The Wholesaler earns an assignment fee, that is, the difference between the contract price with the seller and the purchased price with the buyer.
It consists of basically 7 steps; 1) Find a seller, 2) Determine the ARV, 3) Estimate the repair cost, 4) Negotiate the price, 5) Sign the Purchase Agreement, 6) Find a buyer, and 7) Close on the deal.
Many real estate investing experts say that the fastest way to get involved with investing in real estate is through the wholesale strategy.
Now on to the best books on wholesaling real estate.
1 – The Real Estate Wholesale Bible | Than Merrill
Written by Than Merrill who is a businessman, entrepreneur, national speak and expert real estate investor. Than is the Founder of CT Homes, LLC, a residential redevelopment company and the Founder of ForturneBuilders.com. Than has completed 1,000s of real estate transactions.
2 – The Art of Wholesaling Properties: How to Buy and Sell Real Estate | by Aram Shah and Alex Virelles
Written by Aram Shah and Alex Virelles, talks about the A-to-Z insights for creating the fastest and profitable way to “flip paper” in the wholesaling market. Aram and Alex provide a step by step instructions to specific resources so the reader is doesn’t feel left out or wondering what to do next.
3 – If You Can’t Wholesale After This: I’ve Got Nothing For You | by Todd M. Fleming
Written by Todd Fleming who is an investor, educator, and entrepreneur. Todd is the founder of The Kingdom Real Estate and shares his experience in real estate investments and finance.
Todd writes this book for those who are tired of the traditional “rat race” and the corporate world. Todd’s first deal was completed when he only had $11 in his bank account. Todd believes that this book will inspire you to achieve the mindset to own your own business in real estate investing.
If You Can’t Wholesale After This: I’ve Got Nothing For You… goes into depth on the mindset of knowing that your network is your net worth, emotional intelligence, thinking big, attracting what you think and feel, self-awareness, etc. It also walks you by the hand showing you a step by step on how to close your first investment deal without the use of cash or credit.
4 – Wholesaling Real Estate: A Beginners Guide | by Brent Driscoll
Written by Brent Driscoll, who is an author of other real estate investing books, e.g. Real Estate Lead Generation: The Quick and Easy Way to Generate Real Estate Leads, Flipping Houses For Profit: A Comprehensive Guide on How to Flip Houses for Maximum ROI, and others.
Brent writes this book from a beginner’s perspective, knowing that the wholesale strategy is probably the easier (yet difficult) way to get started in real estate investing because of the NO MONEY down, creative technique.
Wholesaling Real Estate: A Beginners Guide goes into detail on how to find deals, that is, finding your seller, e.g. using craigslist, bandit signs, mailing lists, yellow letters, postcards, etc. He also teaches you how to evaluate the property, making the offer of a deal, finding a buyer, and finally closing on the deal.
5 – My Life and 1,000 Houses: 200+ Ways to Find Bargain Properties by Mitch Stephen
Written by Mitch Stephen, who has been a creative real estate investor for over 20 years. He is also the author of My LIfe and 1,000 Houses: The Art of Owner Financing.
My Life & 1,000 Houses: 200+ Ways to Find Bargain Properties dives intensively into finding deals and marketing. From branding your signature, letterheads, creating pretty phone numbers, customizing your clothes, making big car signs, using billboards, sponsoring sports teams, newspaper classified, to signs, and free to paid advertising.
6 – Wholesaling 101: The Beginner’s Guide to ‘No Money Down’ Real Estate Investing Strategies
Written by Carol Sankar who is an international high -level R&D business consultant and real estate, investor. She authored other books including, The Confidence Factor for Women In Leadership.
She credits her success with her own corporate failure, not that she was a failure but Corporate America failed her during a layoff. In her own words, she defined her future declaring, “I insisted that I would not allow my life to be defined by Corporate America…I knew that I wanted to invest in real estate.”
7 – How to Become a Wholesale Millionaire
Written by Mark Lane who is a real estate investor and entrepreneur. Mark went from foreclosure, food stamps, bankruptcy and working up to three jobs to become financially free. Mark now has the time freedom to do what he loves and he enjoys showing others the same.
How To Become A Wholesale Millionaire is a detailed step-by-step approach to wholesaling real estate. The book is written that goes over the basics to the advanced in learning the calculations when analyzing a property.
8 – Tim Bell’s Wholesale Flight Plan: A Step By Step Guide to Wholesale Real Estate Success
Tim spent most of his life training, managing and coaching. He’s gained extensive knowledge in the real estate investment arena to effectively instruct, train, and help others in the business. He is a licensed Real Estate Agent Pre-Licensing Instructor and he has been awarded multiple coaching awards.
Tim divides his book into seven steps, starting with the basics, identifying key neighborhoods, analyzing the property, contracts, clauses, and paperwork.
9 – The Book on Investing in Real Estate with No (and Low) Money Down: Real-Life Strategies for Investing in Real Estate Using Other People’s Money
Written by Brandon Turner who is an active real estate investor and the VP at BiggerPockets.com. Brandon invests in all kinds of deals, Apartments, Buy-and-Hold properties, Fix-and-Flips, etc.
This book presents itself in multiple strategies and is not specifically centered on wholesaling real estate. Wholesaling real estate is just one strategy that allows the investor to create investing deals with practically “No Money.”
The chapter that focuses specifically on real estate wholesaling is chapter 9. In it, Brandon does an excellent job of systematically forming the steps and explaining each one in great length.
10 – The Creative Real Estate Marketing Equation: Motivated Sellers + Motivated Buyers=$
Written by Omar Johnson who is a serial entrepreneur who specialized in offline and online marketing, SEO, and real estate investor. Omar also is a real estate investing coach and business consultant who focuses on creative real estate investing techniques, e.g. lease options, wholesaling, options, etc.
This book is written from a marketing perspective, in that, there are many techniques that demonstrate how you can find the seller, the buyer, and then make the deal. Marketing is a huge part of wholesaling and real estate investing overall.
11 – Everything Wholesaling: The Ultimate Guide to Wholesaling Real Estate
Written by Carol Stinson. This book is an all-around book on wholesaling touching many topics on the marketing side of wholesaling real estate, e.g. driving for dollars, expired MLS listings, recognizing motivated sellers, etc. The book also interesting goes into detail on creative wholesaling, e.g. wholesaling short sales, wholesaling foreclosures and REO properties, selling the LLC, transferring LLC membership interest, etc.
Books on Mindset
Mindset is a critical component for investing and growing wealth. For example; many people have an inner fear of money. You may not know it but it may be there. They may have an inner sense at a conscious level that if they make more money, the more they will spend or the more family members will come for a hand-out, etc. Money is a tool, it is a resource, however, most people treat money as an asset.
By challenging the way we think about earning money. We can overcome the hurdles the prevent us from making it.
Here are several books to help with that.
Secrets of the Millionaire Mind
Written by T. Harv Eker, multimillionaire himself teaches us how to become wealthy. He believes what you think ultimately leads to feelings, which leads to actions, which leads to results.
It is a great motivational book and demonstrates the value and the condition of the mind.
Many times you may understand a business concept or real estate strategy but if you don’t keep challenging the mind you may still end up empty.
Rich Dad Poor Dad
Written by Robert Kiyosaki which is a very popular book. The concepts in the book are required to set the mindset of thinking differently, that is, think like the rich. The concepts are important for any investor so they can understand the importance of growing financial literacy.
Retire Young Retire Rich: How to Get Rich Quick
Another by Robert Kiyosaki demonstrates how to leverage your mind
learning how to retire early, retire young, work less and earn more.
He goes in-depth on leveraging habits, money, real estate, and teaches on how to take action steps.
One common principle within the wholesale strategy is the value of knowing how to market. Thus, the reason you see many authors contribute to marketing concepts and marketing strategies.
There are many resources available on the market to learn about the wholesale strategy. Learning how to do real estate investment is not rocket science nor is it computer science, however, it still requires education. The fact is, the market should be flooded with wholesaler but they are not. Wholesaling requires no money to get started making deals. But it still takes time to develop the right mindset and education to start turning in those deals.
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