Flipping Houses – Market Your Properties Like A Rock Star (pt 2 of 4)
OK, part 2 of marketing your properties like a rock star... so they sell!
If you haven't yet read part 1, you missed a crap-ton of good... free... info. So much so, I could package what I put in that article and sell it for $500. OK, so that's stretching it. Let's say... $25. But, it's still good stuff. Money-makin' stuff...
You need to check it out. Go here to read it now.
Now... on to part deux.
In part one, I gave you eight marketing techniques that need to be done in the first three days of receiving a signed purchase contract. So, now it's day ten and you still don't have an interested buyer. What do you do now?
You reevaluate. Because something is probably wrong.
So what could be wrong with the deal? Well...
It could be overpriced. (most common)
And, there could be repairs or issues with the house that we're not aware of. (second most common)
I recently had a student deal that looked like a slam dunk. We were all set to pocket a quick $19,000 profit. And, next thing we know, the deal is dead because the seller didn't have the house rezoned when she changed it from a single family to a multi. And, as it turns out... getting it rezoned is a real pain in the ass.
Probably why she didn't bother with it.
So, evaluate the deal again and if you decide that you need to cut your price, for whatever reason, this is the time to do it.
Then, rinse and repeat.
Repeat steps 1 - 8 by either simply updating the price, or alerting everyone of the discount for a quick cash sale.
9. Contact any realtors and any other wholesalers you know and ask them to get in on this sale by referring any cash buyers they know. And, always offer a piece of the deal. For a realtor, 10% of your profit should be fine. For a wholesaler, it may take a bit more, or even a 50/50 split. With both, always ask what they want first... and then negotiate off of that.
At this point, you've already marketed the property all over town. So, there is no reason to ask another wholesaler to mark up your selling price and offer it to their buyers. Simply cut him in on the deal. Remember, making $7,500 on a deal, instead of $10,000, is a helluva lot better than making zero.
Andrew "The Maestro" Massaro
Founder and Coach of the most
personal, direct, hands-on and
1-on-1 wholesale real estate
coaching program on the planet!
Wholesale Coaching, Inc.