Fargo Real Estate Investing & Real Estate Financial Planning™ Podcast · James Orr

Secrets of Wholesaling

·53 min·3 clips

James Orr says he wholesaled at 280 real estate markets simultaneously and still favors the license route.

1. Fargo Real Estate Investing & Real Estate Financial Planning™ Podcast covers James Orr’s module on the "secrets of wholesaling real estate." 2. James Orr is the host and the instructor for the Real Estate Investing Secrets course, and his experience frames the strategy discussion. 3. The episode asks what wholesaling is for, and Orr answers that it is about finding deeply discounted deals and selling the right to buy them for a fee. 4. Orr says a wholesaler needs to "control the deal" through an option agreement or an assignable contract. 5. He explains that the seller should be fully disclosed that the wholesaler is not the end buyer. 6. Orr describes the end sale as either an assignment of rights or a back-to-back closing with short-term financing. 7. He says wholesaling is usually aimed at fixer-upper investors and BRRRR investors who want discounted properties. 8. He also says wholesaling can work with buy-and-hold investors when the property has strong cash flow. 9. Orr defines wholetailing as wholesaling to a retail buyer when the deal is not discounted enough for hardcore investors. 10. He says a retail buyer may still pay an assignment fee for the right property at the right time. 11. Orr argues that wholesaling is really a sales job because the wholesaler has to sell the seller and sell the buyer. 12. He adds that the work is also a marketing job because the wholesaler must market for sellers and market for buyers. 13. Orr contrasts wholesaling with getting a real estate license, saying licensing lets you work with almost any seller and almost any buyer. 14. He says a licensed agent can represent one side of the transaction or both sides, depending on the arrangement. 15. Orr presents National Association of Realtors income data for agents with two years or less in the business, including the 56% figure under $10,000 a year. 16. He also cites the 1% figure for new agents making $150,000 or more and the 26% figure for agents with 16 years or more. 17. The tone is instructional, direct, and comparative, with Orr repeating that listeners should check local laws and do their own research. 18. The format is a solo teaching module with examples, definitions, and a long comparison between wholesaling and brokerage. 19. People interested in real estate strategy, assignments, and brokerage economics will get the most out of this episode. 20. People wanting a story-driven interview or a quick overview will probably skip it.

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