how to sale a whole sale deal fast.

18 Replies

i have  had my first whole sale deal under a 45 day contract for a little over 2 week many lookers no buyers, can any one tell me what i can do to get rid of this property fast. ive tried the local reia and craigslist at this point in a little lost.

@Rod Coleman

Hey Rod. Can you post the numbers on for this deal? I would love to take a look at them for you. Most of the time if you can't move a property its because it is not a deal. In my experience if you have a deal you will have a ton of buyers interested. 

Lower your price most likely. 

Originally posted by @Micah Copeland :

@Rod Coleman

Hey Rod. Can you post the numbers on for this deal? I would love to take a look at them for you. Most of the time if you can't move a property its because it is not a deal. In my experience if you have a deal you will have a ton of buyers interested. 

 33k

20 to 25 k repairs

90k to 103 avr

@Rod Coleman

If you've had many lookers but no takers, it's probably not really a wholesale deal. A REAL wholesale deal is usually sold with the first looker but certainly by the second or third. So like @Ryan Dossey said, you need to lower your price. 

Has anyone at least made an offer? If they have, is it even close to your asking price? 

no no offers they complained about old cloths in the house

I would recommend getting in touch with people you know to be investors and present it to them with hard solid numbers on a spreadsheet. Other than, what are you doing for marketing?

The key boils down to the quality of the deal. You can have a buyer's list a mile long, but if you don't have a good deal, it won't help much. On the other hand, if you have no buyer's list, but a great deal, you can go to your local REIA or post it on craigslist and should get an offer in a few days.

@Rod Coleman

Because this is your first deal, I suspect you've done what most beginners do and under estimated repairs or over estimated ARV. If the numbers you presented were truly that good, the property would've sold immediately. How did you reach those numbers?

Most not be a good deal.. ill try dropping the price

avr i used red finn

the repairs i use to work part time in construction in my cozens company, perhaps im thinking of it like they are going to fix it them self to me i see maybe 10k worth of materals to fix it.

You may want to post the craigslist add link here. No offense intended, but if the advertisement is similar to your above posts (misspelling words, poor grammar and punctuation), maybe a buyer is not taking you seriously.  Furthermore, maybe someone should proof read your advertisements.  Again, not throwing darts, but rather telling you my initial impression (as a buyer).  2nd thought is that it's not really much of a deal after all (too little profit margin). 

none taken i have better things to do then to get upset, just reduced the price to 29, 500 as far as my spelling i use spell check 

if it fails its fine learn and move on

Have you put it on postlets.com? That throws it out to Zillow and several others. Most properties I have sold have come from buyers trolling Zillow. Have you looked on Zillow or Trulia and seen what your competition is in the area? What has sold recently at what rate? My business partner just listed a home on CL and within 3 hours we have someone coming to see it already. The buyers are there. The hard part is if you are overpriced you may have turned off someone who would have bought it. I haven't ever had to drop my price to sell. Make sure you are offering low enough to make a decent profit and sell quickly. That's the key to wholesaling. If you want to PM me a link to the add I can take a look at it and see what I think. Old clothes should not be an issue. I've sold homes with basement walls caving in, water spraying, and spiders larger than the cave scene in Lord of the Rings. 

Originally posted by @Ryan Dossey :

Have you put it on postlets.com? That throws it out to Zillow and several others. Most properties I have sold have come from buyers trolling Zillow. Have you looked on Zillow or Trulia and seen what your competition is in the area? What has sold recently at what rate? My business partner just listed a home on CL and within 3 hours we have someone coming to see it already. The buyers are there. The hard part is if you are overpriced you may have turned off someone who would have bought it. I haven't ever had to drop my price to sell. Make sure you are offering low enough to make a decent profit and sell quickly. That's the key to wholesaling. If you want to PM me a link to the add I can take a look at it and see what I think. Old clothes should not be an issue. I've sold homes with basement walls caving in, water spraying, and spiders larger than the cave scene in Lord of the Rings. 

 yes the avg sale for this area is about 30k for cash buyers, i starting to think they recent foreclosures investors was buying may have spoiled people in the area. I dropped the price to 29.500 hopefully i will get an offer soon.  some of the houses similar to this one or within 100 sq ft that are less then a half a mile away have sold for close to 200k in late 2014 early 2015. 

Originally posted by Account Closed:

@Rod Coleman

Because this is your first deal, I suspect you've done what most beginners do and under estimated repairs or over estimated ARV. If the numbers you presented were truly that good, the property would've sold immediately. How did you reach those numbers?

 your probable right 

@Rod Coleman You could invest $30, become a BP Pro, and post an add on the BP marketplace. Then search for the people in your area, connect with them, show them the deal, and see if something comes of it. Also, if you find a BP member that you feel comfortable with, you could send them all the information on the deal, and have a phone conversation discussing numbers and strategy. I've found a couple people in my area that have gone out of their way to give me their time and advice. 

Money tight at the moment, but i will if i get this one closed

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