What is real estate wholesaling? Flip to A Million team makes easy money with the technique in premiere episode

Tonight on the series premiere of Flip to A Million, fans met two couples who will take on the challenge of converting a $1,000 investment into a million-dollar house sale within six months. To start making money to be able to renovate and flip the houses, the challengers chose to do real estate wholesaling.

Real estate wholesaling is a way of making large amounts of money in a small amount of time. A wholesaler buys a property from the owner and signs a contract to give the owner the cash within a limited time.

The real estate wholesaler then finds someone who would invest in the property/buy the property at a higher price and offers them a new contract. This helps the wholesaler not spend a single penny on the house and make an easy profit.

Jason and EJ Williams failed to do so in an unknown place, and after spending two weeks and $400 on gas, the couple chose to leave the plan and renovate someone's bathroom. Jon and Dani Wrobel, on the other hand, did not give up after losing out on a $1,05,000 house and chose to wholesale another home worth $50,000.

The house was haunted, but after many phone calls and failed attempts, the couple made an $8,500 profit on the house.

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What happened on Flip to A Million tonight?

Tonight on Flip to A Million, fans met the participants of the biggest real estate challenge show. Jason and EJ Williams, who have a daughter, revealed they were called the power couple of Chicago and had been flipping houses for the past 17 years.

Jon and Dani Wrobel said they have been working on renovation projects and flipping houses together for the past 10 years. The couple has 2 daughters together.

The teams decided to make easy and fast money via real estate wholesaling. Jason and EJ changed their minds and decided to take on a bathroom renovation project. They updated the mirrors and lighting of the bathroom along with a soft marble finish. They also decided to change the flooring and added herringbone porcelain tiles.

Jon and Dani took on a loan to buy a $135,000 house and decided to spend the money renovating the same house.

The episode description reads,

"Two savvy house-flipping couples are dropped into a new city for a radical social experiment with real estate. Starting with only $1,000, they'll attempt to climb the property ladder and sell a house for one-million dollars -- all in just six months."

The house had two huge bedrooms and a shiplap design. The Flip to A Million couple liked the house's original arches and an open house concept. They said they had no room for surprises, but they discovered a hidden fireplace behind the shiplap, which increased the house's value by $10,000. They argued about adding a third bedroom as it would be very narrow.

Later, the construction team found some rotting wood under the floor, which increased the couple's worries.

Flip to A Million airs on HGTV every Monday at 9 pm ET. Fans can also watch the episodes on HGTV Go and Discovery+.