Buy and Holder · Lake Stevens, WA · Member since 2014 · 81 posts · 12 votes
Hey BP,
I have been working becoming a good Wholesaler in the northern Seattle Area becoming better a determining ARV as a serious investor not a casual investor I would like to become somebody that people can count on. With that I need some help on getting going of to the right direction. I believe special in the Seattle area you need some help I don't want to make half steps an cut corner as a rookie and this is WHY I am hesitant. I am open to mentor ship, coaching or JV hope to work something out am open to suggestions.
Real Estate Transaction Engineer · Jacksonville, FL · Member since 2014 · 271 posts · 74 votes
11y
Reading the blogs and watching the podcast specifically in wholesale can do wonders for you.
What is your strategy to get leads? How much money do you have to invest in your marketing? Direct Mail or DIY are the 2 ways of getting leads. Advantages and disadvantages may guide you to the perfect option.
Do you have a plan to handled incoming calls? Find out how the pros do it and adjust to your level.
Have you ever negotiated with a seller before? Learn some negotiating tips to help you get the property at the price that works for you, the seller, and your buyer.
Have you reviewed and looked at contracts? Purchase agreements and Assignment agreements are 2 biggies if you want to wholesale. Consulting a RE attorney can be costly, but it can be more costly if you don't have one drafting or reviewing your contracts.
Do you know the laws of wholesaling in the State of WA? Some states require you to be licensed if you use certain marketing strategies. Check out some of the forum posts to see what's shaking in the "wholesale: Is it legal or not" realm.
There are a list of other specialties that a wholesaler has to be good at in order to quickly and effectively determine good deals. Rehab estimates, rents in the area, comps, neighborhood evaluation (jobs, crime, income, etc), cap rate, etc.
Much success in your business. Let us know how it goes.