MOST Important things to Wholesalers?

Question

There is no right answer. Your answers are appreciated and are being used for research purposes.

1) What do you feel are the two most important things for a successful wholesaler business?

2) How do you currently improve, increase, or become better at those things?

3) What two things would help improve your wholesale business or make you more efficient?

4) How do you sell your properties and find buyers?

Thanks!

John Fossetti · Answer

When I say marketing I mean finding motivated sellers.  I have a saying, you could be the best negotiator or closer, but if you don't market, it is like winking at a girl in the dark.  You know what you are doing but no one sees you doing it.

The selling part comes down to networking. It is possible to JV with another wholesaler but I haven't yet.  If I did it would be a case by case scenario on the percentage.

Taylor Jennings · Answer

@John Fossetti

1) When you say marketing, do you mean in search of motivated sellers or trying to sell the properties you get under contract?

2)

3)

4) The bigger the buyers list the better! Do you ever JV with other wholesalers to find a buyer? If so, what is their split when they find a buyer?

Thanks for taking the time to reply! It's much appreciated.

John Fossetti · Answer

Great Questions!!! Hope my answers help!

1) What do you feel are the two most important things for a successful wholesaler business?

Marketing and Negotiating

2) How do you currently improve, increase, or become better at those things?

Find the marketing techniques that you have been successful on and multiply. Each market is different and you need to determine what is working for you and focus on that strategy.

Practice negotiating...  Believe it or not you negotiate everyday. If you have children, have you ever said, "if you behave you can get that toy?"  If you have, then that is negotiating.  Practice everywhere you go just to get used to it. It is not like you will go to McDonalds and say "I See the Cheeseburger is $1.00, How about I buy two cheeseburgers for $1.50"  We are accustom to paying what they are asking.  Learn the techniques and strategies of negotiating and practice.

3) What two things would help improve your wholesale business or make you more efficient?

Be accountable, get an accountability partner that you need to report to or get together weekly to make sure that you are continiuing to be motivated.  Be Consistent on everything, from you logo to all of your marketing material.

4) How do you sell your properties and find buyers?

Network Network Network...  And after you are done Networking network some more!!!  Once you have your buyers list you should be ready to wholesale to them!