WIP 1066: Deal or No Deal - When is the Right Time to Do a Novations Deal
Wholesaling Inc with Brent Daniels
Find distressed properties for pennies on the dollar and turn them for huge profits!
4.9 • 1.4K Ratings
🗓️ 24 October 2022
⏱️ 15 minutes
🧾️ Download transcript
Summary
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.
----------
Show notes:
- (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
----------
Resources:
- Join our Wholesaling Inc Facebook Group here
- Want to learn more? Check out our TTP training program.
- To speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your "no obligation" discovery call here to learn more about working with Brent personally
Go to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space.
Get all of your burning Wholesaling questions answered, gain access to JV partnerships, and connect with other "success minded" Rhinos in the community.
It's 100% free to join. The opportunities in this community are endless, what are you waiting for?
Transcript
Click on a timestamp to play from that location
| 0:00.0 | how to figure out if you're going to do a novation. So you're looking at a property and you're like, |
| 0:04.8 | yeah, this thing is maybe outdated or it looks livable, it may not be outdated. By the way, |
| 0:10.1 | it is in livable condition. And so a.k.a, you probably can get financing for this property. |
| 0:17.4 | This is game-changing information guaranteed to raise your real estate wholesaling business |
| 0:22.5 | with actionable steps you can take immediately to navigate the ins and outs of wholesaling |
| 0:27.5 | and start making money today. Join us as we put our guests in the hot seat and dive deep to dissect |
| 0:33.9 | their strategies for success to enable you to duplicate their results. You're listening to |
| 0:38.9 | wholesaling ink. The only show dedicated to making you a fortune in wholesaling. |
| 0:45.0 | Welcome to the wholesaling podcast, the number one podcast for new real estate wholesalers. |
| 0:49.9 | By the way, this is Todd Tobak and if you want to connect on Facebook, of course, |
| 0:53.7 | you can connect with me and actually send me a friend request. But I spend a lot of time |
| 0:58.0 | in the wholesaling ink Facebook group. So make sure you join that group and let's connect there |
| 1:02.9 | today. The wholesale deal versus a novation deal. Now, both of these strategies work. |
| 1:08.6 | Both of them, you can make a ton of money without experience and without a ton of cash and without |
| 1:13.4 | a ton of risk. But sometimes you're thinking, Todd, I hear you're talking about what a novation is. |
| 1:17.3 | It seems really hot right now. It seems like it should be doing them. What about traditional |
| 1:20.8 | wholesaling, which is also a great strategy. And I'm a very, very, very big fan today. That's |
| 1:27.2 | what the show is about. So let's get rolling. So before I jump into what to do and when, |
| 1:33.6 | let's review what a traditional wholesale deal is. So a traditional wholesale deal is when we |
| 1:38.4 | meet with a motivated seller, someone who's got a problem and they want to sell their house fast. |
| 1:42.8 | Okay, we then go to and meet with that seller or talk with them over the phone and get an |
| 1:47.2 | agreement to purchase that house or condo or real estate or land or whatever that is, right, |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Find distressed properties for pennies on the dollar and turn them for huge profits!, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Find distressed properties for pennies on the dollar and turn them for huge profits! and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.