Hey, my name is Homer i just started in wholesaleing houses and want to how do i get my first house under contract so i can sell my first house
Most wholesalers will usually get properties to sell by finding them 3 ways, direct mail, bandit signs or driving for dollars. You need to have an idea of what the home is worth so you know if your negotiating on a deal or not. The goal is not to just lock homes up for sale and sell them if the numbers dont work.
Also, if you dont have the cash to buy the home dont tell the seller you are a cash buyer. This is where a lot of wholesalers get stuck. I would approach the deal as follows:
Seller, I work with a network of cash buyers both locally as well as from around the country and I would like the opportunity to market your property to them for the next 30 days. If at the end of the 30 days I have not been able to bring a cash buyer, we can either part ways as friends or we could lower the price and I could try again
By approaching it this way you have basically told them you are not the actual buyer and you are there to help them. This takes away the uncomfortable feeling if fibbing and also makes it so you dont have to have back out clauses in the event you cant sell it.
Hope this helps a little.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing