Finding sellers Vs Finding buyers

[Rufus Gillespie Jr]

In the time i've been studying wholesaling many people says that finding buyers first is best because you know what your looking for. I agree somewhat, but how will you attract buyers with no deal to preset them with. 

[Bill Gulley]

Originally posted by @Rufus Gillespie Jr:

Thanks J Scott I really appreciate the tip. Very Helpful

@J Scott.

I'm going to temper J. Scott's comment a bit, first off he has a Broker's license or did, secondly, he has an MBA, he knows RE, he understands how to identify properties and assess situations that present liability issues and probably the correct path to take under given circumstances.

You don't!

Search the forums, this exact thing was addressed yesterday!!! "Opposing opinions on wholesaling"

Finding buyers or sellers has most to do with the surrounding issues of an owner's position.

Next, get real, you can't identify what a deal is like J. Scott or I, you're brand new and just like all the other brand new people wanting to wholesaling, because they think it is where to begin because they listen to gurus about it being easy with no money, no job and no credit......which it is NOT!

There are many stupid sayings in RE. Find a good deal, the money will come!

That is totally bogus and just plain stupid. Someone can find a great deal, if they don't have a money guy to call, to present that deal, with knowledge of protecting that information and to control the situation......guess what really happens in reality?

IT SELLS! And Not To You!

Like this statement, find a great deal and buyers will knock your door down, totally bogus, again, you must be able to identify a good deal (which new folks can't do really, unless they fall into it) and if it's a hell of a deal, others can find it too!

Now, another point in reality:

If you do not have the ability to buy a property, your contracts and all the crap gurus give you, can be thrown right out the window! You can just be bypassed and forgotten!

What are you going to do? Sue, LOL, you're the one in trouble taking a property off the market, might be dealing without a license, you entered into a contract that you can't perform, some places that is real estate fraud. So, what is really your recourse? Nothing.

Now, some idiot might suggest filing a lien or cloud title, that will get you hammered even harder if you don't have the capacity to perform!

Almost any idiot can get a sale contract but then what? Do you have any idea what happens next with sellers or owners? That isn't addressed by gurus.

You need to know before you hit the streets and start getting properties under contract, giving the impression you are buying, keeping a seller thinking a property is going to sell.

I'd not be so insistent on the subject if I knew wholesalers approached owners honestly telling them what they were doing, but I know that is not what gurus teach or what the sneaky-snakes advocate or what newbies do.

Find that thread I mentioned, do yourself a favor and read it, it is the reality you will be facing. :)