VICTOR HUGHLEY II

NO
M O N E Y
D O W N !
A TO Z HOW TO CREATE YOUR FIRST
REAL ESTATE DEAL WITH NO MONEY!
 Table of contents

1. Introduction

2. Wholesaling Real Estate

3. How to find distressed

properties

4. The Formula

5. Contacting Motivated
Sellers

6. My Offer

7. Title and Escrow

8. Finding a Buyer

9. Closing and conclusion

 Chapter 1

Introduction
At the age of 23, I was
sentenced to 20 years in
prison in the state of
Florida. In prison I
finished my education by
getting a GED later going
on to start a college for
business and business
law. Long story short I
was released three years
ago, and one and a half
years of that, I have been
wholesaling. I only say
that to say, if I can do this
business, andybody can.
Hello my name is Victor
Hughley. Welcome to my
free ebook on real estate
wholesaling. I have been
a real estate investor
now for a year and a half.
And I've learned a lot
over time from mentors
and coaches. And my
objective in this book is
to get you started on a
path that will change
your life as was done for
me.
I have wholesaled
multiple deals, now I
am currently doing fix
and flip real estate
investing, and also buy
and hold real estate
investing. My objective
is to get you on a path
to the same success
that I've had.
 Chapter 2

Wholesaling
Real Estate
The process of wholesaling
is simply, you, playing the
middleman in a transaction
that would have never
taken place if you weren't
involved. What I mean by
this is, you have what we
call motivated sellers.
These are people who want
to sell their homes and
they want to sell them fast
without a real estate agent
for whatever reason. Most
of the time, these types of
sellers do not know how to
find the right buyers for
their homes.
Cash buyers are real estate
investors that like to take
their cash and purchase
properties to either fix
them up and resell them at
retail value, or fix them up
and keep them for a rental
property.The problem the
Cash Buyer has is he is
worried about fixing and
maintaining the properties he
already owns, not finding
and negotiating deals. So
they are willing to pay an
assignment fee for your
ready made deal.
In conclusion, wholesaling real
estate is the process you
finding a property that is a
distressed property, locating
the seller, getting the property
under contract for a good
price, and selling your rights in
that contract over to the end
Cash Buyer. Once you have the
contract, you have equitable
interest in the property, and that
equitable interest can be
assigned to another party. An
Assignment of Contract is
where you hand over your
rights and obligations to
another party for a fee which is
called an assignment fee.
 Chapter 3

How to Find
Distressed
Properties
 Before we get into how to find
motivated sellers, I have to
explain to you a process called
skip tracing. Skip tracing is a
process that has been around
for a long time, that bails
bondsman have been using to
track criminals when they jump
bail. Therefore giving birth to
the name 'skip tracing'. So, this
process has lasted throughout
the years, and now is more
widely used, especially among
real estate agents and real
estate investors.
The reason I have to explain this
is because, with most of these
strategies, you're going to be
looking for off market properties,
meaning properties that are not
on the MLS, or listed with a real
estate agent. You are looking for
properties that are off market.
There are websites both paid
and free, that you can go out
and skiptrace any address.When
you run a skiptrace on a
property you should come back
with the sellers contact
information. Phone numbers,
addresses, and even email
addresses.
www.freepeoplesearch.com is a
free one that does work well for
a free skiptracing website.
 Number one:

Driving for dollars is getting in

your car and driving in your
neighborhood, and finding
properties that are in distress.
Properties that look abandoned,
no blinds in the windows, mail
falling out of the mailbox, and
tall grass. Anything that makes
the property look as though it
hasn't been taken care of and
it's abandoned. Once you locate
one of these properties, you're
going to skiptrace, and contact
the owner to try to find out if
they're interested in selling.
If you are going to be driving
for dollars you should
download the anydeal app
and so that you can look
deals up, skiptrace, and send
offers on the spot. This app is
a game changer and if you
want to really up your game,
download the app and get a
free 7 Day Trial of this app.
 Number two:

Bandit signs. Do you ever

see those corrugated garage
sale signs or house for sale
signs that sit on the side of
the road. Those are bandit
signs, and they are heavily
used in wholesale real estate.
bandit signs are fairly cheap,
and they are a lot of legwork,
but they do work, people
have used them since before
the internet era. People have
had plenty of success with
them then and they still have
success with them now. I'm
just not a personal fan of
them, but to each his own.
 Number three:

Lead list. These are list that

you buy from thrid party
websites that have access to
public records. There is
success from both free and
paid lists, you can get lists
from Propstream, you can
get lists from plenty of
different websites out there
that have lists that will allow
you to filter down to the type
of properties that you are
looking for.
 Number four:

online marketplaces
online marketplaces like
Zillow. For Sale By Owner
Craigslist, and Facebook,
just to name a few. These
are all marketplaces where
people sell homes by
owner and that are not on
market.
Chapter 4

The
Formula
Now, what you're going to
need to do is you're going
to need to know the
formula that all cash buyers
use. you're gonna need to
know the formula so that
you can know when you
have a good deal, and you
know where you need to
have your price at.
A few concepts that you
have to understand.
ARV is after repair value.
After repair value is the
price of the property after
it's fixed up.
Comps are comparable
properties . Comps are
properties that have
simaliar bedrooms, similiar
baths, similiar sqft., and
similar condition to the
subject property.
An assignment of
contract is when you sign
over your rights and
obligations in a contract.
Purchase and sales
agreement is the actual
contract/ offer that you
send to the seller to
purchase the property
 Okay, so now let's get into
the formula. That formula is
(70% of ARV - repairs -
assignment fee). Subtract
70% from the ARV then you
subtract the estimated
repairs, and then you
subtract your assignment fee.
At that point you have the
maximum allowable offer,
that means that's the most
that you can offer on that
property, I would suggest,
offering much lower, so that
you have room to negotiate
in your deal.
Chapter 5

Calling
the
Seller
Within this first initial call
with the seller. You do not
want to start talking about
price with the seller. Most
sellers are emotionally
attached to their property or
the money that they have
invested in the property.Your
gonna have to take them on
a date before you take them
to bed. If you come right in
talking about price a lot of
people will get offended by
such gestures and see you as
spammy.
You want to get into this first
phone call and find out as
much information that you
can find out about the
property, and about the
seller of the property.
Information you want to grab
in this initial call is
information like the age of
the roof, how old is the
plumbing, how old is the
electric, how old is the
kitchen, how old is the
bathroom, and any other
information that the owner
can give you about the
condition of the property
Don't ever be the first to
throw out a number, hold out
on the number. If you do say
a number in the first phone
call, give a ballpark, or
range. Gather the
information, and at the end
of the phone call let the seller
know that you have to speak
with your partner and run
some numbers, and you're
going to get back with them.
even if you do not have a
partner, you're going to be
going forward with doing
your numbers and setting
your negotiation strategy.
Now you can come back in
the second phone call with all
of the information that you've
gathered, and have a plan
based on the information they
given you to solve their
problem.
Chapter 6

The
Offer
Okay, now that you've
gathered all of this
information, and you're off
the phone with the seller, sit
down on your computer
you're going to look for
comparable properties to
your subject property, this is
called a comparable analysis.
At this point you will be looking
at your comps and using the
formula given above to come
up with your offer.
At this point you are going to
be going into your second
phone call, where now you will
be presenting your offer to the
seller. This is a very important
point i'm about to make, so
please remember this. Say
everything that you have to say
that is gonna justify your price
first; then say your price, and
REMAIN SILENT. At this point
let the price sink in with the
seller and let them make the
decision from there. All of the
data that gave you put you in
this position, so it's justified. It
may seem awkward but it will
work.
If the seller gives resistance to
your price only argue the data
and things that add strength to
your argument and move on. If
they won't sell to you at your
price move on and use your
time where you could be
creating a deal. Don't get
married to these deals because it
will just lead you down a path of
creating bad deals.
Chapter 7

Title
and
Escrow
Now that you've found a
property, you skiptraced the
owner, contacted the owner,
and got all of the proper
information about the house.
Did your comparable
analysis, and now you've
gotten the seller to accept
your offer, and you've signed
the contract. So now that you
have the contract in hand,
what has to happen next.
Next in the process is to make
the agreement binding.
Meaning that the rights and
obligations of the parties
named in the contract are
legally binding, and nobody
can stop the process of
whatever is stated in the
contract. How do I make the
contract binding?
Put it in escrow through a
Title and Escrow Company.
You want an investor friendly
title company that deals with
assignments and double
closings. Once you have the
title company what you're
going to do is you're going to
send in your contract to the
title company and what they're
going to do is they're going to
do a title search on the property
so that it can pass over to a new
owner.
Chapter 8

Finding
A
Buyer
Now what you need is you
need to find a buyer, you need
to find a real estate investor
ready to purchase a property all
cash and get started on his
next project. Where do you go
find those you may ask. The
best place to find buyers are,
in my experience, through
Facebook, real estate investor
groups.
What you can do is go into
Facebook. And what you want
to do is go up into the top in
your search bar, and you want
to search for, real estate
investment groups. And then
you want to join those groups.
Inside of those groups there
are plenty real estate investors
and other wholesalers that are
in those groups and they talk
back and forth, and share
deals with one another.
Once you have a deal what you
want to do is you want to post a
picture of your deal, and a brief
description of your deal, into the
Facebook group, and wait for
the investors to start sending
you their email's. Once they
send you their email address
at that point, you'll send them
more details inside of a email,
and go back and forth on a
one to one basis via email.
Also, an easier route, and
more time effective route, is
you can send me your deal at
cashablinvestmentproperties
@gmail.com. I will either buy
your deal or joint venture with
you and split the assignment
fee.
Either way when you have a
great deal it won't last long. If
you have a deal and multiple
people are looking at it and no
one is jumping on it, it's not a
good deal and your time will
be better spent on another
one that will put some money
in your pocket.
Chapter 9

The
Closing
Now that you find found your
buyer. You ready to get them
to the closing table. You this is
why it is critical to find buyers
that are ready to move and not
hold your deal up. You're
ready to close. Once you have
your buyer, you want him pay
a non refundable escrow
deposit. I usually have them
put down $2,500 something
that I know the end buyer is
not going to want to walk away
from.
That's the purpose of the non
refundable escrow deposit
other than they also need
consideration for the contract
to be valid. Do not, do not, DO
NOT, assign a contract
without accepting that
escrow, that Escrow is what's
going to save you a deal.
What is closing, closing is
where the title company
closes out all the accounts,
and then sends off the deed to
be recorded in the new buyers
name after that process is
done, and all of the funds have
been exchanged. Now your
deal is closed, and that is the
key to the whole process.
Chapter 10

Conclusion
In conclusion, these are all of
the basics to the process of
wholesaling real estate. The
rest has got to come from you,
getting out there making the
phone calls, and figuring out the
information that it's going to
take to get a deal done.
Every deal is different, every
seller is different, every buyer is
different, every property is
different. So, you gotta go in to
these deals with a clear head
and knowing that it could be a
good deal, and it might not be a
good deal. Don't marry yourself
to a deal to the point to where
you're going to make a bad deal.
Don't go into real estate
investing, with your emotions,
because it's about money, it's
about adding value. Real
Estate wholesaling is about
solving problems. It's about
solving the problem of the
seller, it's about solving the
problem of the buyer, and it's
about solving the problem of
the property. Data is your
best friend so stay focused
on that. I hope you enjoyed
this mini ebook, get out there
and make some money..