NEW: BP Podcast 66: Flips, Apartments, & Protecting Yourself From Professional Tenants with Michael Blank

Hide this

From the BiggerPockets Blog

 BiggerPockets Blog »

Jump to Forum View All

Click a category below to view different forum categories.


General Info

BiggerPockets Q&A, Site Questions, & Announcements

1508 topics, 14381 posts — Last Post 04/17/14, 08:09PM

BiggerPockets Exclusive PRO Area

117 topics, 838 posts — Last Post 04/16/14, 09:08PM

New Member Introductions

10870 topics, 85469 posts — Last Post 04/17/14, 10:16PM

Real Estate Success Stories

394 topics, 6121 posts — Last Post 04/17/14, 10:03PM

General Real Estate

General Real Estate

Buying & Selling Real Estate

5924 topics, 46697 posts — Last Post 04/17/14, 09:00PM


643 topics, 5816 posts — Last Post 04/17/14, 04:11PM

Get Foreclosure Help - Help Stop Foreclosure Forum

316 topics, 2557 posts — Last Post 04/16/14, 03:58AM

Home Owner Association (HOA) Issues & Problems Forum

237 topics, 1609 posts — Last Post 04/17/14, 08:53AM

Do it Yourself

653 topics, 6259 posts — Last Post 04/17/14, 08:00AM

Reviews & Feedback

Real Estate Deal Analysis and Advice

3666 topics, 29392 posts — Last Post 04/17/14, 10:15PM

Real Estate Guru, Book & Course Reviews and Discussions

1132 topics, 11544 posts — Last Post 04/17/14, 06:06PM

Ask About A Real Estate Company

740 topics, 7312 posts — Last Post 04/17/14, 09:46PM

Real Estate Investing

Real Estate Strategies


5591 topics, 43679 posts — Last Post 04/17/14, 10:01PM

Rehabbing and House Flipping

3327 topics, 30929 posts — Last Post 04/17/14, 09:59PM

Real Estate Development & New Home Construction

552 topics, 4679 posts — Last Post 04/17/14, 10:10PM

Innovative Strategies

703 topics, 6023 posts — Last Post 04/17/14, 09:46PM

Tax Liens, Notes, Paper, & Cash Flows Discussion

864 topics, 6667 posts — Last Post 04/17/14, 06:13PM

Rent to Own a.k.a. Lease Purchase, Lease Options

691 topics, 4869 posts — Last Post 04/17/14, 10:20PM

1031 Exchanges

143 topics, 1052 posts — Last Post 04/16/14, 05:39PM

Foreclosure Investing

General Foreclosure & Pre-Foreclosure Forums

1686 topics, 11285 posts — Last Post 04/17/14, 06:41PM

HUD, VA, and Tax Sales

414 topics, 3088 posts — Last Post 04/17/14, 07:35AM


1214 topics, 10570 posts — Last Post 04/17/14, 02:28PM

Short Sales

1534 topics, 13120 posts — Last Post 04/17/14, 04:44PM

Landlord & Tenant Forums

Landlord & Rental Property Questions

7193 topics, 70635 posts — Last Post 04/17/14, 10:04PM

Mobile Homes & Mobile Home Park Investing

638 topics, 5137 posts — Last Post 04/17/14, 10:04PM

Investor Basics

Starting Out

7689 topics, 60356 posts — Last Post 04/17/14, 09:58PM

Investor Psychology

430 topics, 6092 posts — Last Post 04/14/14, 06:53PM

General Real Estate Investing

4711 topics, 37163 posts — Last Post 04/17/14, 05:53PM

Real Estate Investor Marketing

1730 topics, 14091 posts — Last Post 04/17/14, 06:21PM

Commercial Real Estate

Commercial Real Estate Investing Forum

1409 topics, 8983 posts — Last Post 04/17/14, 06:13PM

Multi-Family and Apartment Investing

1106 topics, 9193 posts — Last Post 04/17/14, 09:54PM

The Business of Real Estate

Real Estate Technology and the Internet

Real Estate Technology, Social Media & Blogging

638 topics, 4884 posts — Last Post 04/17/14, 02:08PM

Business Basics

Goals, Business Plans & Entities

830 topics, 7549 posts — Last Post 04/17/14, 10:19PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Tax, Legal Issues, Contracts, Self-Directed IRA

2783 topics, 19994 posts — Last Post 04/17/14, 04:52PM

Property Insurance

309 topics, 2045 posts — Last Post 04/17/14, 07:41PM

Personal Finance Discussion

328 topics, 2730 posts — Last Post 04/17/14, 04:56PM

Loans, Mortgages, Credit Lines

Private & Conventional Lending Discussion

2829 topics, 19675 posts — Last Post 04/17/14, 10:30PM

Creative Real Estate Financing

1207 topics, 8762 posts — Last Post 04/17/14, 03:35PM

Crowdfunding Real Estate

35 topics, 455 posts — Last Post 04/14/14, 02:14PM

Real Estate Professionals

Real Estate Professionals

Real Estate Agents

1206 topics, 7957 posts — Last Post 04/17/14, 09:20PM

Bankers, Lenders, and Mortgage Brokers

441 topics, 1919 posts — Last Post 04/17/14, 01:58PM


268 topics, 1680 posts — Last Post 04/17/14, 08:08PM

Local Real Estate

Local Real Estate

Local Real Estate Networking & Recommendations

1984 topics, 11584 posts — Last Post 04/17/14, 08:36PM

Americans & International Real Estate

161 topics, 566 posts — Last Post 04/14/14, 11:19AM

Foreigners Buying in the USA

62 topics, 409 posts — Last Post 04/10/14, 06:27AM

Canadian Real Estate

64 topics, 427 posts — Last Post 04/17/14, 03:22PM


Real Estate Marketplace

Real Estate Marketplace

15004 topics, 53907 posts — Last Post 04/17/14, 09:32PM

Real Estate Events and Happenings

163 topics, 2476 posts — Last Post 04/17/14, 09:31PM


Off Topic


2902 topics, 32399 posts — Last Post 04/16/14, 03:07PM

Housing News & Real Estate Market

914 topics, 8351 posts — Last Post 04/17/14, 08:41AM

BiggerPockets Real Estate Investing Summit

97 topics, 1751 posts — Last Post 04/10/14, 02:27PM

BiggerPockets Resources

Forums » Wholesaling » Wholesale questions

Wholesale questions

5 posts by 5 users


· Alma, Michigan

My partner and I drove around looking for properties and now we are in the process of calling them, but we need to figure out exactly what questions to ask them. And also, how do we check the market so we know what the homes in the area are being sold for?

Real Estate Investor · Montesano, Washington

Hey Jordan -

I'm not the wholesaling expert, but I'll take a stab.

By driving around, do you mean looking for vacant homes? or do you have a list and you are following the list? A lot of your questions will be based around that.

Either way, I think it would be important to find out how much they owe. This can be a touchy subject, so you'll need to preface it with some tact and conversation. You'll want to know the condition of the house (though, everyone will say it's great!) and find out their reasons for selling. I think it's important to get to the heart of the issue, and to build up a good conversation to build trust.

Sorry I can't be more helpful. You might want to ask @Stephani Davis, @Ibrahim S, or @J Scott for more insight on talking with sellers.

As for knowing the market - you can usually get a "comp list" from a Realtor for free. This list will tell you all the sold, pending, or listed properties in a certain location for whatever price you set. Study the sold ones, and keep an eye on how long they sat on the market.

Determining price is tough - which is why appraisers need to have so much training. When in doubt - make friends with some real estate agents. While eternally optimistic, they will have much more insight than most.

Also - Be sure to set up a "Keyword Alert" for the term "Wholesale" and "Wholesaling" so you can jump into those threads whenever they pop up.

(To see what I'm talking about, watch my BP video here

Small_bp-squareBrandon Turner, BiggerPockets
E-Mail: [email protected]
Community Manager & Senior Editor - Follow me on Twitter! @BrandonAtBP

Real Estate Investor · New Jersey

Hi Jordan, I have a few questions...

1 have you done a direct mail marketing campaign yet?
2 gathered a buyers list of any sorts?
3 done any type of marketing (bandit signs, flyers, google adwords, handing out business cards, word of mouth, Craigslist...?

The reason I ask is because I've learned time is money.

Not everyone has money to start a business but it's more about making the right decisions and learning from the bad ones. Think about the time you spent driving around excited, looking for beat up or vacant properties. Cost of gas, maybe food, 3-4 hours of driving? Then going home and researching the property trying to find the owner/tenant just to come up with a property that is underwater, 2-3 liens, passed away or simply walked away. You've now spent an entire day on one property that you can't wholesale...

Time is money.

Direct mail takes a few minutes...
Figure out a way to save money for DIRECT MAIL!! Postcards are cheap, letters cost more but they both work! Time is money! I used zillow for sold comps.

Here's the deal, send mail to absentee owners and use postcards, send out as many as you can monthly and follow up every single month for upto 7 months. You will get a deal from someone fed up with tenants, old, tired or just needs to sell.

Time is money!

Send out the mailers to buyers and sellers, answer the calls, coordinate the deal and collect your check!

It's not that easy trust me... IT IS A JOB and when you complete that first one you'll know what I'm talking about!

Good luck!

Real Estate Investor · Audubon, Pennsylvania

Scripts for calling on sellers:

Finding comps:

Lots of reading for you there ...

Steve Babiak, Redeeming Properties, LLC
Telephone: 6109082183

Real Estate Investor · Union, New Jersey

Jordan you've received some good tips on what questions to ask. Now as someone who specializes in vacant and abandoned properties I'll offer some suggestions as what NOT to ask:

1) Don't come off like a bill collector by asking "yes can I speak with Mr. Johnson". They'll only tell you that you have the wrong number. Instead (regardless of who answers the phone) start off by introducing who you are, what you do and why you're calling - in 10 seconds or less. Once you tell them why you're calling they will automatically route you to who you need to speak to.

2) Don't read from a script. It will sound rehearsed and make you sound like a telemarketer. Which means you'll get hung up on. Especially when you're new and you don't yet know how to "wing it" when it comes to speaking on the phone. Know the facts about the house and owner (YES do your research first) and then be able to address their anticipated concerns based on their specific situation. Sound as natural as possible.

3) Don't commit cultural taboos like referring to owners by their first names (unless given the ok) or calling them on Sundays. I prefer to call between 11am - 4 pm during the week. Sets me apart from telemarketers who like to call 6-8 pm on weekdays.

Sign up