What would be more important? I know both are but in what order? Is it better to find a good serious investor and find out what they are looking for or find a good property and find an investor for it?
Its better to have more than 1 investor all are different , some want turn key , some will take rough houses , some want expensive areas . Deals come when they come , if you dont have different types of buyers , you are dead in the water.
@ Matthew Paul thank you so much. Would you be able to give me some ideas on how to find an investor? Do I just call one up? Go to real estate agents and ask? How do I get them to know that I am serious about business?
I have to take the opposite side of this coin from Mathew.
Absolutely the most important thing is to find the deal! If it is a great deal, and you get the word out, you will suddenly have lots of very excited investors at your door.
I have been investing for over 15 years with several rentals and quite a few flips. I never considered wholesaling until about 8 months ago. It took me long enough to locate a great value property in my target areas that I wouldn't consider letting it go for a few thousand bucks wholesale fee. After listening to BP podcasts (especially #37) and reading some great BP posts on wholesaling I expanded my search area to include nearby cities where I have no interest in being a landlord or flipping. I found a great property with only a little effort. Just a few days after I had it under contract I passed out flyers at a local REIA meeting and posted an online ad on a local, free real estate site. I had an offer with earnest money within 24 hours and 8 other serious buyers called within the next few days! I kept all their names and contact info and when I found another deal in the same area I started at the top of that list and sold the home within a half hour. I made about $8K on each wholesale and I'm looking for more.
I promise that if you find a sweet deal and get the word out, the cash investor buyers' list will find you!
@Douglas Larson Thank you so much for this information . It just motivated me even more. I was beginning to feel a little overwhelmed but this really helped. I will be looking ASAP.
i agree with douglas. if you have a property for a low enough price, finding the buyer should be the easy part.
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