Wholesaling Toddler (lol) needing advice
Specialist · Oviedo, FL · Member since 2018 · 4 posts · 0 votes
Wholesaling Toddler (lol) needing advice
Most Popular Reply
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
7yDude, don't worry. These "unlivable" homes are the best best best homes to deal with. The reason why is, of course depending how bad they are, (unliveable is great, teardown... not so much).
This is because there is equity, and the sellers have pretty much no other option than selling it to a cash buyer. You can't list such a home with an agent, and no (conventional) buyer will get financing for such a house.
So that part you got covered.
As for buyers. Once you have a good deal it is easy to get buyers. Keep this in mind, buyers are not doing you a favor to be on your list. YOU are doing THEM favor by providing them deals.
Don't act like they do you a favor. The way I get buyers is by starting to tell them, why should I put you on my list? They need to show me they have purchased houses in cash regularly. How do I get away with this? I get amazing deals coming in daily. I show them with a screenshot of my email being flooded with sellers begging me to buy their house.
like so:
Once you can show you provide value to them, they will be begging you to be added. Before you know it you will have the reputation of being THE lead provider and you will be the golden buy. What happens then, is funny. The second you advertise a contract people will throw their deposit money at you before they even look at the house. They know I have a reputation of providing ONLY home run deals and whatever deal I throw out there is a good deal, and there is no need to doubt.
HOWEVER:
For this to happen DO NOT BE LIKE 99% OF THE WHOLESALERS.
For pete sake people, learn how to give accurate numbers. Don't exaggerate the ARV and don't skimp o the cost of repairs. This is IMPORTANT. This is what will stand you out from all the rest. You have to build that reputation.
But once you do get this done, you are set man!
Remember, you do not need 300 buyers on you lest, you need just 3 - 6 buyers for every city you are covering. And most buyers cover more than just one city. So you should be fine with about 30 buyers.
You simply need serious buyers.
Now.. wasn't this easy?
You owe me a 3 chickens!
7 Replies
- 7yCurt DavisBusiness MemberFlipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
The easiest potential cash buyers will be investment companies in the area where you are looking for homes. Surely there are some in your local area. You can usually pay for a list of all cash buyer sales for your area. THats a good place to start.
Curt Davis - KAIZEN Realty538 Reviews - Specialist · Charlotte, NC · Member since 2016 · 239 posts · 117 votes7y
There's a billion places. You can send direct mail to cash buyers. Buying the list from listsource of the recent cash transactions. You can network through BP, FB, and others. You can call landlords and on renters websites. Many options!
- Flipper/Rehabber · Greensboro, NC · Member since 2010 · 623 posts · 615 votes7y
@Arteyjha Thompson Real estate investing is not something to do with no education. Be sure to attend all your local investor meetings to learn the language, get education, and meet other investors who will help you with your business including buying from you and selling to you.
You can find these meetings on MeetUp.com and NationalREIA.org.
Good luck to you!
- Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes7y
Dude, don't worry. These "unlivable" homes are the best best best homes to deal with. The reason why is, of course depending how bad they are, (unliveable is great, teardown... not so much).
This is because there is equity, and the sellers have pretty much no other option than selling it to a cash buyer. You can't list such a home with an agent, and no (conventional) buyer will get financing for such a house.
So that part you got covered.
As for buyers. Once you have a good deal it is easy to get buyers. Keep this in mind, buyers are not doing you a favor to be on your list. YOU are doing THEM favor by providing them deals.
Don't act like they do you a favor. The way I get buyers is by starting to tell them, why should I put you on my list? They need to show me they have purchased houses in cash regularly. How do I get away with this? I get amazing deals coming in daily. I show them with a screenshot of my email being flooded with sellers begging me to buy their house.
like so:
Once you can show you provide value to them, they will be begging you to be added. Before you know it you will have the reputation of being THE lead provider and you will be the golden buy. What happens then, is funny. The second you advertise a contract people will throw their deposit money at you before they even look at the house. They know I have a reputation of providing ONLY home run deals and whatever deal I throw out there is a good deal, and there is no need to doubt.
HOWEVER:
For this to happen DO NOT BE LIKE 99% OF THE WHOLESALERS.
For pete sake people, learn how to give accurate numbers. Don't exaggerate the ARV and don't skimp o the cost of repairs. This is IMPORTANT. This is what will stand you out from all the rest. You have to build that reputation.
But once you do get this done, you are set man!
Remember, you do not need 300 buyers on you lest, you need just 3 - 6 buyers for every city you are covering. And most buyers cover more than just one city. So you should be fine with about 30 buyers.
You simply need serious buyers.
Now.. wasn't this easy?
You owe me a 3 chickens!
- Specialist · Carlsbad, CA · Member since 2018 · 1k+ posts · 638 votes7y
@Arteyjha Thompson, Welcome to BP!It's quite easy when it comes to finding an investor. The first thing you would want as a wholesaler is to network with other investors and put them in your list. Once you get enough of them in your list it would be just a matter of time to close your deal. As @Karen mentioned, try to attend local investor meetings and build your network.
Happy Wholesaling! - Specialist · Oviedo, FL · Member since 2018 · 4 posts · 0 votes7y@Jerryll Noorden This was awesome thank you. May I ask where did you get this type of knowledge.? Were you already in real estate.?
- Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes7y
you will laugh at this but I am a robotics scientist having worked in top 3 leading VIP facilities around. It takes a certain mindset to be in such an innovating field. My entire life has been one of deciphering understanding and making better.
When the average person reads "Google wants back links" they get back links. I don't. I decipher what the Google algorithm may be and why they want back links. I extract the reasoning behind it. I then test and create my own seo methodologies satisfying those reasons and more. Much like creating and inventing new technologies I create new seo trends and constantly test them out. What works gets filed under great ideas and what doesn't I feed my competitors making them think those methods bring success. Then I giggle evilly when I see their ranks drop. Keeps them on their toes.
^_^
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