REALTY411 Magazine - A FREE Real Estate Magazine for Investors! REALTY411 - A COMPLIMENTARY MAGAZINE FOR INVESTORS - Page 77

SALE F WHO IS JIMMY V REED? olks are always telling me: “I would love to make money in real estate, but I’m just to broke.” And I respond every time: “So was I.” Jimmy V. Reed of Fort Worth, Texas has been investing in real estate since 1987 and by 1991 started doing one day trainings in Wholesaling. He then began teaching and mentoring others through out the country. Jimmy also created several training’s used in the past by Whitney, Rich Dad, and others. He currently is the founder of & was co-founder of the Fort Worth club for 14 years. Now he trains students through his company Real Estate Equity Development. For more info, please visit: Back in the late ‘80s, I started reading books on how to make money in real estate. Every time they kept telling me you find a good deal, then you go get a loan and buy it, fix it, sell it, or hold it. That’s when I would say to myself: “Well it sounded too good to be true.” Later I learned it is too good to be true. I learned how to Wholesale Prop- erties. I learned what I would say to be the greatest technique in real estate. How to buy a house without actually buying the house. Now let me tell you how that works. I compare it to when I would go garage selling with my wife on the weekends. We would drive around looking for SIGNS! You know, garage sale signs. We would find a sale and then look for a deal. And we always seemed to find at least one deal, once we started making offers and negotiating. By the way, I have taught thousands of students whose number one fear is to make an offer. But the second you put them in a garage sale, they start making offers so low it was like kicking the seller in the knee cap! Anyway we would finally agree upon a price. And many times realize we didn’t have enough money on us to pur- chase the item. So we would ask the seller to hold it until we came back with the money. And... wahlah... Garage Sale Real Estate! I know you’re thinking: “WHAT?” Well let me tell you the secret to this. At the garage sale we would run to the ATM, get the money, come back and pay. Now take this principal a little deeper as we teach in our wholesale classes. Tell the seller to hold it, how? A simple Purchase Contract. That’s when you tie up the property until you have the money. I know, I know, you’re broke! That’s ok because while it is under contract, we contact other investors who are looking for deals! That’s right, we are deal finders finding deals for our customers. These investors have CASH! Now we just assign the contract to them for a fee. And now you just got Paid! Sometimes we even use a double close to close on the property because the profit margin is so large. That one is a lot of fun. Well hopefully by now you at least can see a glimpse as to how so many investors can make money in real estate without having money. Did you know when you go to a car lot, or even Wal-Mart, the items you purchase from them have most likely not even been paid for by them yet. That’s right Wholesaling has been going on in most business forever. Now the question is are you up for some Garage Selling? Well it’s all up to you, but if you need a little help look us up, we’ve been teaching Wholesale to investors since 1991. v PAGE 77 • 2017