BiggerPockets

Wholesaling Homes: Building your team

Saturday, November 14

Hello all,

I'm reaching out to you all for advice on how to build a team when you are thinking about wholesaling homes.  I'm trying to be specific about my goal/s and specifically would like to know who should be part of your team when it come to wholesaling and what should you look out for when trying to create "the team".  I've done a lot of research on this (and I have a WHOLE LOT MORE TO GO, just appreciate and would like to get your advice on any thing/or EVERYTHING you could share with me):

2) If we establish that we have the same goals (meaning I want to bring you MONEY and in order for me to do that you understand HOW I plan on doing it AND you believe that I CAN do that for you and you decide that we can be a team), then hopefully things could work out but...

3) Who do I really need on the team?  It seems that the team players are: an attorney (but is/could this person be from the title agency or is that a seperate member?) & a real estate agent, in addition to/and most importantly the BUYERS (perferrably cash buyers) & MOTIVATED SELLERS!!! (the latter are one shot deal team players :)

4) Ultimately, I want to give everybody what they want... (while getting what I want :)   ).

Please let me know your thoughts on this topic.  Thank you all very much.

Comments

1. 

   Art Jackson Reply
   about 2 years ago

   Michelle, the first thing you should understand is that in order to be successful in wholesaling you should concentrate on a buyers list. That is thye most important part of wholesaling. The next thing you should do is make sure you have the correct paperwork and how to fill it out(purchase and sales agreement and assigment form). Make sure you have the right clauses in your paperwork to protect you and allow you to walk away if you can't find an endbuyer. Once you have those things then you need to have a good team of researchers that can locate properties and evaluate those properties so you can make offers. Art

2. 

   Michelle G. Reply
   about 2 years ago

   Art - Thank you very much for taking the time out to share your advice, I appreciate it. I thought that perhaps I should clarify for myself different aspects of wholesaling by posting specific topics that I have questions about and you touched up on a topic that I certainly need a great deal of advice on. I have read so much and still want to know what anyone else has to say about it, so you have contributed to my success (which WILL ultimately happen :) ). Thank you once again. May I ask you:

   *What creative methods would you use to create a buyers list?
   *Regarding correct ppw (paperwork), is this the part where I consult with "my" lawyer and/or mentor (a.k.a. team member/s)? If so, would my team member/s? also be the person to supply me with an assignment form?
   **VERY GOOD ADVICE ABOUT "right clauses" in ppw to protect me & would allow me to walk away (I REALLY appreciate you pointing that out... it's all going in my notes RIGHT NOW :) - thnx)
   *Team of researchers - what if I am the researcher... do I need more ppl to help me?

   Art, once again, thank you for taking your time out to set me straight, I appreciate it. Look forward to hearing from you. Michelle

3. 

   Josh Wagner Reply
   about 2 years ago

   Michelle! the first thing you should do is get a wholesaling course/mentor to follow step by step! On the assumption that you haven't already. I myself are experimenting with the real estate wholesaling game for about 1 year now, after personally buying ebook after ebook and driving myself friggin insane just to get started. I finally came across a wholesaling course with all of the knowledge to build absolutely everything possible to get going with wholesaling. So go to www.GreatGuruGiveaway.com and purchase Eric Medemars wholesaling real estate course, its about $97 (you can't afford not to buy it).....You have my word:) Good Luck I know this will help. JO$H

4. 

   Joshua Dorkin Reply
   about 2 years ago

   Michelle -
   Have you jumped on the <a href="http://www.biggerpockets.com/forums/93-wholesaling-forum">wholesaling forums</a> yet? Every one of your questions has been answered there many times over and over again. You should also go to The BiggerPockets Blog and read all of Steph's articles about wholesaling; they are great! Finally, I definitely think getting a mentor is a great idea; let the folks on the site know in our Dealmaking forum and I'm sure you'll find what you seek.

   Good luck.

5. 

   Michelle G. Reply
   about 2 years ago

   Wager & Dorkin - Thank you both soo much for your advice!!! I have printed out everything on could find on BP and have been studying it and jotting questions down (which I know will be answered along the way). This stuff is GREAT!!!

   I had heard about and researched Medemar's guide, I hear good things about it. I also heard alot about Steph on BP & will definitely pay close attention. Once again, thank you both for taking the time out to help contribute to my success :) Michelle

6. 

   Joshua Dorkin Reply
   about 2 years ago

   No problem. Good luck to you. We're here to help!

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