Great Wholesale Strategy for Newbies & Vet's

Great Wholesale Strategy for Newbies & Vet's

Real Estate Coach · Baltimore, MD · Member since 2010 · 29 posts · 16 votes

Recently I have been getting questions from folks just starting out in the Wholesaling niche having trouble finding buyer's for their deals and determining values. I really can relate to these 2 hurdles these people are encountering. When I first started just like a lot of other seasoned house flipper's encountered some of the same road blocks.

There are a couple of ways to get over and around these road blocks and hurdles. Here are a few that I know work.

Get on some of the other Wholesaler's buyer list in your marketplace. And get familiar with the neighborhoods they are selling properties in. Most seasoned wholesaler's always list the ARV, Pics, Repairs, Description and may even show a list of comparable sales. You will learn their business rhythm's and this will help you model their success.

After a few months on their buyer's list you should be able to determine what the wholesaler's are selling their properties for which will help you determine how much you need to market and sell your deals for. And as for getting your properties SOLD simple contact the Wholesaler's you have been following and structure a Co - Wholesale deal with them were you split your profits 50/50.

How do I know this works when I started Flipping Houses in 2004 I subscribed to the 2 biggest wholesaler's in my marketplace's buyer's list and studied them for about a year while sitting a t my cubicle before I flipped my first couple of deals before I left my J.O.B. And now there are NEW wholesaler's in my marketplace doing the same with us.

2Reply
25 views

3 Replies

Jump to latestLatest
  • Chris ClothierBusiness Member
    Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
    15y

    Marcel -

    That is good advice for people looking to get started and not wanting to spend a lot of money on infomercial products. I like the fact that you also included part of your story and how you studied those lists for a year while working your day job. It is always good for those getting started to hear that if yo are patient and develop a plan, you can create an income for yourself and take control of your future.

    Good stuff -

    Chris

  • Real Estate Coach · Baltimore, MD · Member since 2010 · 29 posts · 16 votes
    15y

    Chris absolutely. It is very important that you have a plan in this business. It's essential to have a plan of action no matter if your starting out in wholesaling or buy and hold. I've been actually watching your company for over a year now and I see you give your clients a plan first before they actually buy one of your deals. Excellent way of adding value and security for someone looking to get started.

    Thanks for the reply!

    Marcel

  • Investor · Detroit, MI · Member since 2008 · 296 posts · 11 votes
    15y

    This is great advice Marcel. The only thing that is keeping me out of the game is my lack of funds to come up with an emd. My question is, is there really a true No money down strategy? And if not can I get banks to be more lenient on their emd rule if I offer to close within a certain amouny of time, say 6 days or less...

Join the conversationCreate a free account to reply, vote on answers and follow this thread.