Wholesaling in Michigan

[Ashley Chapman]

Hi everyone! I've just recently began really researching wholesaling. My ultimate goal is to fix and flip properties. I have been watching alot of videos, listening to podcasts and googling everything possible regarding wholesaling, as that is what I want to start out with. All of my free time has been consisting of research, research, research.I am ready to jump in. Like I said I have only researched so far. Any tips are greatly appreciated. 

[Paul Leason]

if you’re wholesaling, you need to:

1. Be prepared to send out a lot of mailers to get the leads. Not talking 100s but 1000s preferably. 

2. Then be prepared to field the calls and have a script prepared. Or pay a call center to do that for you and weed out the luke warm leads and focus on the hot leads. 

3. Then you need to be able to talk knowledgeably to the seller and start building a trust with them and then go view the property once you think you have a good lead. You possibly have talked rough pricing at this point to ensure you’re not wasting your time. 

4. You then need to go to the property, assess it for current value, future value (ARV - after repaired value) and rehab cost.

5. Make an offer considering the above and considering a profit for the final investor buyer. 

6. Market that property professionally to your list of buyers and make the assignment of the PA after showing potential buyers back through the house. 

Easy huh?  Well not really. Wholesaling done well takes investment, a lot of effort and some experience in seeing what needs to be repaired. Rewards can be good but if you get the numbers wrong, you won’t find buyers.