If you are wholesaling real estate in today’s competitive market, you “must” have novations in your wholesaling toolbox.
The novations method is trending in the real estate world right now because of the flexibility it offers you as a wholesaler, not to mention the fact that it opens up a whole new group of people you can help.
Novations is one of the most effective new strategies offering you a lot more opportunities to do many more deals with MUCH larger spreads. But, when is the right time to do a novations deals? Well in this episode, Todd Toback answers that question and you may be very surprised by his take on the subject.
- (0:47) Beginning of the episode
- (1:35) A review of what a traditional wholesale deal means
- (2:37) A recap on what is novations
- (3:48) A traditional wholesale deal is one where you meet a motivated seller and see the property
- (5:26) When will you need to novate a home?
- (8:06) Sometimes the only way to salvage a deal is by novating the property
- (13:40) The fix and flip strategy