In this episode, I talk to my good friend Luc Borion about investing in wholesale strategy and how you can not only have that quality time with your family and friends, but work a lot less while still making the same, if not more money than you would at a 9 to 5 job.
We all want to make money. We also want to have a purpose in life that doesn’t revolve around just making money and working all the time, missing out on quality time with our loved ones. The president of Bliss Realty Inc, Luc has been working hard and has become the “master or the wholesale.”
Wholesale, as Luc explains, has several meanings. One is the assignment, where you put a property on a contract and then sell the rights to that contract to somebody else. Another way is the “double close,” where you would close on a property and then sell it in a short amount of time. It could be the same day, however sometimes your selling of the property has already been made before you close on buying it. You may have to wait a few days for your sale of property to close, but a double close is generally done in a very short amount of time. In Canada, a wholesale will be an assignment 95% of the time.
Luc turned from doing flips to the wholesale strategy because of how quickly you get your money back and while there is work to get the property, there’s not as much work on the backend as it would be if you were to flip a house.
Do you like the idea of getting your money quickly? Do you like not having to worry about a construction team while flipping a house? Check out this video for more of Luc’s tips on investing with the wholesale strategy.