Talking to potential sellers, as a rookie wholesaler.

Talking to potential sellers, as a rookie wholesaler.

Member since 2020 · 2 posts · 0 votes

Hey, i`m a noobie wholesaler (or should i say an aspiring one) and i know now a decent amount on the subject. But there is this one question that`s been gnawing me for sometime now. So the uestion is as following- 

When I market to get motivated sellers (off market) to sell me their houses, how do i structure my inital convorsation with them. Eks, lets say that bob (my motivated seller) calls back and he want`s 150k for his house, but at this point in time i`ve not had the chance yet to run my numbers and find the basic numbers such as arv, rehad Ect... Do i run the comps/numbers as im speaking with him or should i just tell him thank you and call him back shortley after having run the numbers. 

One can`t realy run the numbers before tlking to seller, as they are usally the one calling first (if you have marketed to them) giving me no time to prepare. I know that there are some very inttelligent investors on this platform and if you could just answer this simple question, I`ll be more than greatful. Many thanks 

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  • New to Real Estate · NYC · Member since 2020 · 12 posts · 3 votes
    5y

    Hey @Ari Ali, this is something I’m curious about myself, as I’m a fellow noob!

    Based on the general knowledge that I’ve accumulated, I believe it may work best if you have a solid list of buyers who would be willing to invest in the exact type of property in question. And who have established their own criteria in terms of numbers. Work through all of this before you even call that seller. That way you have a maximum offer and an investor or two in your pocket that you can say to yourself, “Hey, I know who would invest in this!”


    Sound reasonable?

  • Member since 2020 · 2 posts · 0 votes
    5y

    good idea and thanks for the reaspond. What im thinking is that no two houses are the same. Some may be more beat down than other, and some may have a better location with better view or what ever than others. Its hard for an cash buyer to know what he will pay for a house, without him/her knowing the rehab costs (assuming that carring, closing and avr) are very similar in that area for lets say 3 bed 2 bath houses. Also it would limit me and you very if we only were looking at deals in a small area were a perticular investors buy their deals. 

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