What is wholesaling? You hear that a lot in the real estate circles or as a real estate investment strategy. Wholesaling is nothing more than going out and getting a property at a good price from a motivated seller and then selling it to somebody else at a higher price. And normally it’s an assignment. I’ll explain that.
Lease options are probably the most misunderstood type of investment. It has many flavors too. It has many variables in it. But what it is, is that you have a property and you’re leasing it to a tenant who’s also going to potentially buy the property. And how they do that is they have an option to purchase the property. That’s why it’s called a lease option.
I know a lot of people say that they want to make a million dollars, and a lot of the goals that are being set with real estate investing are financial-based. Meaning you want to make a million dollars or you want to make $10,000 a month passive income or $20,000 or $30,000 or $40,000.