Comments on: Rehabbers, get to know some Real Estate Wholesalers http://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/ Learn, Network, Invest Sat, 11 Feb 2012 20:37:50 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Justin Piercehttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-79765 Justin Pierce Tue, 02 Mar 2010 16:16:06 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-79765 Thanks a lot, Anthony. I will keep that topic suggestion in mind. In short, if you want to build your buyer's list you just need to start networking and calling people who advertise that they buy houses. Once you find a potential buyer go ahead and ask him/her their buying criteria (I'm sure you're familiar.) My one unique suggestion is to also ask the buyer for an actual adress of the last two properties that they purchased. There are so many pretenders out there. You have to weed them out. Actual buyers will have, most likely, purchased the home, put some work into it and then advertised it for sale or rent. Ask them if they have a website were you could view their last deals or if they have the rent or sales listing. You can tell them that it will help you tailor your search to their particular exit strategy. You have to be super confident that you have a real buyer if you're going to spend your valuable time finding a property to meet their needs. Thanks a lot, Anthony. I will keep that topic suggestion in mind. In short, if you want to build your buyer’s list you just need to start networking and calling people who advertise that they buy houses. Once you find a potential buyer go ahead and ask him/her their buying criteria (I’m sure you’re familiar.) My one unique suggestion is to also ask the buyer for an actual adress of the last two properties that they purchased. There are so many pretenders out there. You have to weed them out. Actual buyers will have, most likely, purchased the home, put some work into it and then advertised it for sale or rent. Ask them if they have a website were you could view their last deals or if they have the rent or sales listing. You can tell them that it will help you tailor your search to their particular exit strategy. You have to be super confident that you have a real buyer if you’re going to spend your valuable time finding a property to meet their needs.

]]> By: Anthony Stewarthttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-79755 Anthony Stewart Tue, 02 Mar 2010 01:46:06 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-79755 It was nice to have discovered this blog. Because all the things that I have read and been studing as a wholeseller makes me feel confident that I am on the right track to be a successful wholeseller. Your blog was very well written and fill with a lot of pertinent information. In your next article could you suggest how one goes about finding buyers or how to obtain a list of buyers. If you have any suggestions pls contact me at the above website. It was nice to have discovered this blog. Because all the things that I have read and been studing as a wholeseller makes me feel confident that I am on the right track to be a successful wholeseller. Your blog was very well written and fill with a lot of pertinent information. In your next article could you suggest how one goes about finding buyers or how to obtain a list of buyers. If you have any suggestions pls contact me at the above website.

]]> By: Justin Piercehttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-74838 Justin Pierce Mon, 02 Nov 2009 04:27:15 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-74838 Dick,Thanks for the kind words and you're welcome. Thanks for reading. Good luck with full time investing. Alot of people look back at situations like yours and say it was the best thing that ever happened to them. Dick,

Thanks for the kind words and you’re welcome. Thanks for reading. Good luck with full time investing. Alot of people look back at situations like yours and say it was the best thing that ever happened to them.

]]> By: Dick Rosenhttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-74837 Dick Rosen Mon, 02 Nov 2009 03:18:09 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-74837 Justin, I just want to thank you for writing this piece. I have been in this business for a short 5 years and just recently (due to a lack of employment) decided to learn more about being a wholesaler. I consider your article as a very good educational piece. Justin,
I just want to thank you for writing this piece. I have been in this business for a short 5 years and just recently (due to a lack of employment) decided to learn more about being a wholesaler. I consider your article as a very good educational piece.

]]> By: Justin Piercehttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-74117 Justin Pierce Mon, 12 Oct 2009 00:58:43 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-74117 Michael,It sounds like you have exactly what I'm advocating whith your wholesaler. I think you can certainly take some credit for your wholesalers success and vice versa. Sounds like you're a good team.Yes, presentation is a huge issue. I really try to keep these posts short but I still should have taken some time to adress that issue. That is an excelent point. You can't just toss up a prayer, hope someone bites, and then demand a finders fee.Thanks for the comment. Michael,

It sounds like you have exactly what I’m advocating whith your wholesaler. I think you can certainly take some credit for your wholesalers success and vice versa. Sounds like you’re a good team.

Yes, presentation is a huge issue. I really try to keep these posts short but I still should have taken some time to adress that issue. That is an excelent point. You can’t just toss up a prayer, hope someone bites, and then demand a finders fee.

Thanks for the comment.

]]> By: Justin Piercehttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-74116 Justin Pierce Mon, 12 Oct 2009 00:55:15 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-74116 Steve,I agree, there are at least 2 breads of wholesalers. You certainly have to find the right one.Thanks for the comment Steve,

I agree, there are at least 2 breads of wholesalers. You certainly have to find the right one.

Thanks for the comment

]]> By: Michael Perryhttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-74115 Michael Perry Sun, 11 Oct 2009 22:47:03 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-74115 What a GREAT article.My favorite wholesaler knows exactly what I like. He knows that I am willing to pay a decent, but not enormous premium on deals that still have lots of meat left on the bone. He knows how much rehab I will do. He knows my areas and what I want to get in rent. Most times, I put his stuff under contract before I ever go visit the property. We have a lot of trust between us. If something goes south and I have to back out for whatever reason, he is going to refund my earnest money because he knows that I close 90% of the time.I'm loathe to pay money to any person who is simply advertising someone else's property before he even has it under contract. I just don't feel that that kind of person has done anything to justify earning any kind of fee whatsoever.How about those guys who never have any pics of the properties that they are trying to sell? They send you a pic from the tax records that may be 5 years old, along with a copy of the polaris information. No current pics and no scope of work! I hate that!I could go on forever. What a GREAT article.

My favorite wholesaler knows exactly what I like. He knows that I am willing to pay a decent, but not enormous premium on deals that still have lots of meat left on the bone. He knows how much rehab I will do. He knows my areas and what I want to get in rent. Most times, I put his stuff under contract before I ever go visit the property. We have a lot of trust between us. If something goes south and I have to back out for whatever reason, he is going to refund my earnest money because he knows that I close 90% of the time.

I’m loathe to pay money to any person who is simply advertising someone else’s property before he even has it under contract. I just don’t feel that that kind of person has done anything to justify earning any kind of fee whatsoever.

How about those guys who never have any pics of the properties that they are trying to sell? They send you a pic from the tax records that may be 5 years old, along with a copy of the polaris information. No current pics and no scope of work! I hate that!

I could go on forever.

]]> By: Stevehttp://www.biggerpockets.com/renewsblog/2009/10/11/rehabbers-get-to-know-real-estate-wholesaling/#comment-74107 Steve Sun, 11 Oct 2009 18:18:21 +0000 http://www.biggerpockets.com/renewsblog/?p=7717#comment-74107 Anytime I deal with a wholesaler they are the first ones to get paid. Once you do a couple deals you should be on the top of their list.There are definitely two breeds of wholesalers though. I would estimate 10 bad deal pitching wholesalers to every good one. .-= Steve´s last blog ..<a href="http://buildbankroll.com/2009/10/house-23-wholesaled/" rel="nofollow">House #23 Wholesaled</a> =-. Anytime I deal with a wholesaler they are the first ones to get paid. Once you do a couple deals you should be on the top of their list.

There are definitely two breeds of wholesalers though. I would estimate 10 bad deal pitching wholesalers to every good one.
.-= Steve´s last blog ..House #23 Wholesaled =-.

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