“Financial freedom.” What do those words mean to you? That likely depends on where you are in life. And, how exactly do does financial freedom happen when you make money in real estate?
Let’s say you’re 20-something. Financial freedom could be achieving a certain lifestyle without a lot of effort or investment. Or, if you’re 35–55, it could mean not having to be tethered to the 9-5 work treadmill in order to provide for your own future as well as your kids’ college tuition. And for those of you 55+, it could mean not having to worry about your golden years.
Vastly different scenarios. Yet all three can take advantage of the same opportunity for potential financial freedom through wholesaling real estate. In fact, 90% of the world’s millionaires have invested in real estate!
How can you make money in real estate through wholesaling?
Wholesaling real estate is a strategy of finding a house that’s below market value or in need of repair, getting it under contract from the seller, then selling that contract for a profit to a buyer. There really aren’t any barriers to entry. Time, self-motivation and a willingness to learn will be your biggest commitments. Notice we didn’t say money as a commitment.
Let’s take a look at why wholesaling houses may work in your situation.
- Millennials making money in real estate
Those of you in your 20s and early 30s may have grown up in a working-class home and neighborhood, watching your parents work 9-5 jobs, earning average incomes. Now that you’re an adult, you have a pretty solid idea of the lifestyle you’ve always wanted to have. You may not have the kind of job or income source to make it happen, but the thought of going back to school for several years to increase your earning potential just doesn’t appeal to you. You want to live that new lifestyle now. Rather than viewing this as a limitation, turn your ambition for something better into an opportunity to do your own thing, to be your own boss.
Making money in real estate through wholesaling is perfect for this; it encourages you to tap into your “inner entrepreneur.” But how can you build a business that turns a profit in the short time frame you want? Here’s the cool thing: Social media has helped level the marketing playing field. And your generation has incredible fluency in social media technology. Make it work to your benefit! All that time you spent on SnapChat, Instagram, YouTube and TikTok that made your parents cringe can now work in your favor in marketing your new wholesaling adventure.
- Mid-life careerists making money in real estate
Now what if you’re a bit older, say 35-55 years old? You may already be in a career, but one that isn’t generating the income you want or deserve. If you’ve got kids still living at home, you may have the added financial stress of paying for their upcoming or current college tuition, especially with skyrocketing education costs. All while trying to figure out how to plan for your own empty-nest future.
That brings up another kind of freedom you may be craving: time freedom. Because you’re part of the “sandwich” generation, you may want to spend time with your kids and/or your aging parents — not on another job that places unreasonable demands on what’s left of your waking hours.
Wholesaling houses could be just the right kind of opportunity for you. If you’ve ever bought a house or have any experience in real estate, it could be a good segue into a new moonlighting option. And depending on how much time and effort you put into it the first few months or year or so, it could turn into a revenue stream that allows you to leave your current job. With little or no upfront money required to enter this field, it won’t put a dent into stretched finances, making it an even more appealing option.
- Upcoming and current retirees making money in real estate
Those of you in the 55+ crowd may be wondering “what’s next?” Retirement may have snuck up on you more quickly than you anticipated. You’re realizing you haven’t saved up enough to last you through your golden years, a big consideration as we’re living longer than previous generations. Working past your desired retirement age isn’t something you were planning on, but looks increasingly likely if you aren’t already doing so. For you, financial freedom takes on a bigger sense of urgency.
Wholesaling houses could become a sort of “hobby” for you, the kind of thing you do on your own schedule. Making money in this real estate niche market could supplement what you have already saved up, your social security benefits and your 401k. And you won’t need to dip into your own retirement savings to be successful in it.
You already have what it takes to be successful in it. you have the advantage of drawing on life experiences and skills you can apply to make it work for you — discipline, time management, in-person social connections, customer service and business acumen. Those skills still mean something today, despite everything going digital. Don’t consider yourself tech-savvy like those millennial young’uns? That’s okay. Lifelong learning is nothing new to you, and you can pick up enough of the technology basics to get by.
Ready to live life and work on your terms?
Wanting financial well-being is not unique to any particular demographic. Wholesaling houses in your area can make a lot of sense as one way to get there. It doesn’t require a massive time commitment, a large monetary outlay or any formal classes. That makes it a rather low-risk way to make money in real estate.
That said, you must do some legwork upfront and be willing to learn a few things that may or may not be new to you. We’re here to help. At Clever Investor, we provide the encouragement and resources you need to make wholesaling real estate your ticket to financial freedom, whether it winds up being a whole new career or side hustle. You’ll learn:
- All things wholesaling, including lingo of real estate and investing
- How to market yourself and your business
- How to write a business plan
- And a lot more
It’s a field ripe with opportunity. Ready to live that new lifestyle, or feel more secure in the one you already have, with less money stress? Take the first step on your real estate journey »