The Casino

One of the driving mechanisms which contributed to the creation of this book, was the sheer number of people who inquired as to how we do what we do. They ask us to explain real estate and its many nuances and caveats in a twenty minute conversation or better yet in a series of emails. The best way to explain the real estate market from an investor standpoint, is to compare it to a casino.

Everyone is familiar with casinos from personal experience or movies etc. The image of a huge glitzy structure with movement and money whirling around is a great description of both a Casino and a Marketplace. The terms “market” and “Casino” are interchangeable and consist of many of the same parts. These parts include; a place to do business (either physical or virtual), the players, the games, the house, and management.

A Place to Do Business

In the world of gambling and casinos there are huge physical structures to house the games. In real estate the city is your inventory, and the marketplace you create is virtual. We commerce, communicate and cultivate through email, text, fax and although we do meet face-to-face , from time-to-time, a great deal of interaction is done virtually. We created www.CashinMyhouse.net and www.Mdhomebuyerlist.com as our virtual market place. This was our first casino.

The Games

Blackjack! Ha when we think of casinos, we think; poker, slots, craps, and all the many games in which to make our fortunes, or lose our cash to an unrelenting “house”. The house is the casino and stays open 24 hours a day to give or take money, usually the later. Which game to play is the first question a gambler/investor must ask themselves. Each game has rules, barriers to entry, levels of math, and levels of experience. This is why one of the first games people learn to play is the slots. This is also consequently why the slots have the worst odds for you and the best odds for the house.

In real estate there many games such as ‘wholesaling, rehabbing-and –flipping, landlord/hold, notes, lease options, REO, HUD sales, tax sales. There is transactional funding, money lending, auctions, agents, and professional services. Obviously not every game is for everyone at all times. The better one gets at real estate, the more experience one acquires the more choices are available as to which games to play. In this book we focus on showing you how to make money using a technique called wholesaling.

This is the process of flipping the contract and never taking possession.

The Players

Of course in Vegas the Players those who have cash to temporarily investment in a game of chance for profit or loss. The main parts in any real estate transactions are the buyers and sellers. The buyers and sellers are comparable to the economic laws of ‘supply and demand’. In real estate, the main players are the buyers-and-sellers in any given deal. This is very straight forward and if you want to be a player. One must poise themselves in position of supply-and-demand or in other words a buyer-or-seller. This is not hard if have the funds but how can one become a member of the game/establishment if they don’t have any money to spend or houses to sell.

Management (the House)

FIRST! The house in real estate is good ole Uncle Sam because he always gets his cut, and we can furthermore associate Uncle Sam with our local municipality. Know the rules in your area! There is no excuse for ignorance but there is a cure. Use websites or make phone calls but each game has it’s own rules.

The people who keep the casino/market place running are the professionals. These professionals are the banks, private money lenders, brokers, wholesalers, investors, title agents, inspectors, builder’s developers, and their likeness. Together the management is great at putting players together. For without players, there would be no game.

We obviously can’t teach everything at one time. Learning the wholesaling game will give you the base you need to move on to any of the other real estate casino games. The skills used in wholesaling are; project management, negotiating, researching, marketing, and hustling. You will also learn how to close deals with the help of your trusty title company. Additionally, many people love wholesaling because after the deal is done you get paid and move on. Most other techniques require more commitment, but consequently yields a bigger, risk vs. reward ratio. Learn our proven methods of how to make money the green group way.