Finally have my first wholesale deal! Very exciting, however, I'm having a hard time finding cash buyers. I created an entire cash buyer list but no leads. I've done tons of research the past few weeks and am still trying a few methods but I wanted to know if you all had any tips? 

@Carmen Dettloff

Thank you!

@Jessica James Don't put the full address and use a picture of the house. If it is priced right, buyers will materialize. 

@Carmen Dettloff

Is it ever okay to give potential buyers the address? If so, under what circumstances?

@Jessica James Oh yeah, you will have to give them the address eventually. But you want to talk to them first (vet them to make sure they aren't a crazy person before you give the full address) and get their info, so you can add them to your cash buyer list. 

Originally posted by @Carmen Dettloff :

@Jessica James Oh yeah, you will have to give them the address eventually. But you want to talk to them first (vet them to make sure they aren't a crazy person before you give the full address) and get their info, so you can add them to your cash buyer list. 

Thank you so much!

@Jessica James what town is this house in? I just finished up 2 consecutive renovations and am looking for the next property.  

Mark 

So you got some poor seller to tie up their property in a contract with you. Meanwhile you certainly have no resource or intention to close nor do you actually have access to people who do. On top of that we don't know if the deal is even any good or not. Glad your'e excited but your seller is getting hosed.

@Mark Faustrum

It’s a 2bd/2ba condo in Orland Park. I’ve had a couple offers on it since putting it on Craigslist but if you’re interested as well I can send you a link.

@Anish Tolia

Such a negative person you are. You were better off being professional and not saying anything. Everyone goes through the trial and error of their first deal at some point. I actually woke up to some offers on it but thanks for your concern, Anish.

@Jessica James 

PM'd you

@Jessica James Post in Facebook groups in your area. That has worked for me! It will take 100 inquiries for you to find the right buyer! Don’t give up!

Originally posted by @Jessica James :

@Anish Tolia

Such a negative person you are. You were better off being professional and not saying anything. Everyone goes through the trial and error of their first deal at some point. I actually woke up to some offers on it but thanks for your concern, Anish.

Its not a personal attack and about you being new. Its about the whole model of wholesaling.It is pretty much illegal in most places, it is hardly ever good for the seller and depends on uninformed or desperate sellers (mostly), it is deceptive because most wholesalers pretend to be cash buyers when they are clearly not. And for me personally they annoy the crap out of me by calling and texting to "buy" my properties.

@Anish Tolia

Your personal experiences have nothing to do with me. If you’re not contributing to the question at hand, then you have no purpose to speak in this forum. Wholesaling is very legal, you are simply ignorant. My seller knows what is going on and is supportive. All my contracts encourage the sellers to contact legal aids for further clarity in presence of confusion. Sellers have every right to accept or reject offers and whichever they choose to do has nothing to do with you nor does it affect you in any way. Wholesaling is going to continue in this economy regardless of your unasked for detestations. Good day. Be productive.

@Jessica James get it girl ! We all start some where and this is a great place to ask questions. Truly, it should be safe as well... constructive critique, words of caution, wise words, and lots of support. The goal is to help us all move up in our goals bc it’s a trillion market. Every once in a while you get bad advice 👆. Sadly, it happens!

@Jessica James I PM’d you as well...And good for you! There are several individuals that parachute into the Wholesaling forum with “its illegal in almost every state,” if that were the case, why would RE attorneys continue to produce contracts for use in wholesaling; why do title agencies close on these deals? I never understood why those who don’t wholesale come onto the Wholesale forum to discourage and spew venom, particularly at those just getting started. However, I think that is their intent. If they really wanted to help, they would offer words of wisdom, guide, and be professional. Those that desire to become investors should not be met by disgruntled persons with an ax grind.

@Mark Faustrum I’m also in Chicago. What areas are u looking for specifically? I might be able to help you out!

@Jessica James If you were offering a great deal, you wouldn't have trouble finding a buyer. How much is your assignment fee? Maybe be less greedy and lower your fee? Just my thoughts. Most of the wholesalers in my area offer totally rediculous prices because they don't know the market. You have an advantage living and wholesaling in the same area. But you can't be trying the rape the end buyer either with a ridiculously high assignment fee.

@Casey Crites

Your choice of words are beyond distasteful and unprofessional. Not to include none of your assumptions are correct. Like I said before in this forum, personal experiences have nothing to do with me. The issue I had more so lies with having illegitimate buyers. However, my problem has since been solved. Thanks for your concern. Good day.

@Jessica James

In my experience, if you’re having trouble finding cash buyers your deal isn’t good enough.

Go back to the basics and reevaluate how you define a wholesale deal. Make sure that aligns with what your investors are actively searching for. Set a few calls with buyers on your list and ask them why the deal you sent doesn’t work for them.

Take this feedback and build on it. Good luck!

@Jessica James I think this is going well...lol. I really like your responses To the haters. As long as you are transparent with the seller, and do business with integrity, you will last in the game.

Sounds like you may have found a cash buyer after all? If not, I have a couple of tips for you:

1. There are probably a few cash buyer / investor Facebook groups in your area. Post the numbers, pics, and address. If it’s under contract you can post the address. If you weren’t willing to post the address originally that could have contributed to why you heard crickets.

2. Contact local hard money lenders and ask if they have any pre approved buyer clients looking for their next deal (I love when wholesalers call me with that).

3. Search for Zillow recently sold comps nearby and look at the pictures, and see which ones have fresh remodels. If it was bought and sold within a year and renovated, those are your flippers. Search tax records for the name, skip trace with whitepages, and call them.

I hope that is helpful!

Originally posted by @Jessica James :

@Anish Tolia

Your personal experiences have nothing to do with me. If you’re not contributing to the question at hand, then you have no purpose to speak in this forum. Wholesaling is very legal, you are simply ignorant. My seller knows what is going on and is supportive. All my contracts encourage the sellers to contact legal aids for further clarity in presence of confusion. Sellers have every right to accept or reject offers and whichever they choose to do has nothing to do with you nor does it affect you in any way. Wholesaling is going to continue in this economy regardless of your unasked for detestations. Good day. Be productive.

I think you're actually wrong about wholesaling being legal in Illinois. There have been a ton of forum threads, blog posts, and articles written about it on here and everywhere else in the past year. Here's one: https://www.biggerpockets.com/... 

Just for the record since this is a public forum, anyone considering wholesaling in Illinois may want to research Illinois Senate Bill 1872: https://legiscan.com/IL/bill/S...

It would appear that unless you're a licensed real estate agent in Illinois, with the approval of your employing broker and using all the required disclosures, you're probably acting illegally if you're wholesaling there (not a legal expert or attorney, just sharing info that I have read in these forums). 

It may still be legal if you're actually closing on the property yourself and then quickly reselling it (wholetailing/double close), but as far as wholesaling the "traditional" way i.e. simply assigning a contract, I think Illinois is actually the sate where it is the most clear about that being illegal (again, not a legal expert, do your own research and draw your own conclusions). Good luck!

@Jessica James

Have you consider getting your Real Estate License? It will be a great tool to have in your arsenal as a wholesaler.

Guys, This community is geared towards helping each other and not bringing one another down.

We all have to start somewhere and few mistakes are part of the Real Estate Investment Journey.

Let's help rather than finding issues or mixing with personal opinions.

Help each other grow !

Happy Thanksgiving and Happy Investing 😊

@Jessica James You can dm me and I will walk you through finding cash buyers in your market. Lets encourage, support, and help those of us who are looking for help.