My first wholesale deal

9 Replies

I am currently in the throws of my first deal.  I got a contract on it Saturday and am now marketing it.  Having some good dialogue and definitely forging some relationships.  Success is imminent!

Great news! Keep us posted on your progress Chuck.

@Chuck Smith I am happy to see your positive perspective in executing your first wholesale deal!! Since I am looking to start wholesaling properties soon, I have a few questions.

What approaches did you take to find motivated sellers and in growing your buyers list?  Also, did you get the property under contract prior to having a buyers list?  Some investors have had great success in getting the property under contract first, while others highly advise to have a buyers list first.  

I look forward to hearing your strategies.

Thanks!!

JQ

@Joseph Quinones Hello!  Strategy wise, I got a local real estate magazine and just got several realtors email addresses and sent an email to them all bcc.  I was very respectful and told them what I had, what I was looking for and if they had cash buyers in their clientele.  I also offered to share some of my profit with them if their referral made a deal.  A few replied giving me permission to send my flyer. Secondly, farmed bandit signs, craigslist, twitter etc and reached out to a few people and I just googled "cash buyers real estate" in my state and contacted them as well with some success.  Thirdly, I went to the tax assessors site, found properties near mine that appeared to be owned by investors, so and so llc or so and so and associates and contacted them and this has generated some feedback.

I just contracted the property this past weekend but I had a small list of potential buyers before I had the contract.....hope this helps.   I'm a newbie too at this by the way!

Great job Chuck! 

I'll never forget how excited I was when I got my first wholesale contract! 

And thought it took longer then I thought to move it, I was able to make so many new connections and add a ton of buyers to my list. They weren't interested in the property I had at the time, but marketing to them helped grow my buyers list ten fold! 

Keep your eye on the prize!

- Shaelyn

@Chuck Smith This is of great help!!  I appreciate you sharing strategies and knowledge.  I will take a swing at it using your strategies and others that I have in mind as well.  The hardest part in this is taking off with wholesaling in general, all else seems to fall into place by digging a bit deeper when researching.    

@Shaelyn Christiansen thanks so much sis!  I'm quite excited at the possibilities

@Joseph Quinones another thing, don't be too uncomfortable with a low offer, you'll be surprised what you can get if you ask!

Originally posted by @Chuck Smith:

I am currently in the throws of my first deal.  I got a contract on it Saturday and am now marketing it.  Having some good dialogue and definitely forging some relationships.  Success is imminent!

 Congratulations! Hope you move it soon!

👏👏👏👏👏👏👍👍👍👍👍👍

@Patrick Bishop Will do! Thanks!!

@Jay Johnson thanks!!

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