How to find Whole Seller to work with in Texas

Joe S.Pro Member

Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes

So, for the majority of our investing career, we have sourced our own leads. We have probably spent more money on sourcing leads than most professional wholesalers. we close on most of our own deals and have done very little wholesaling over the years.

With that being said, we are getting bleed over leads/leads for areas that are out our geographical reach. How would I go about connecting with professional wholesalers that can take some of my leads that are out of my geographical area and work them and if a deal is realized we can both profit? I thought I had someone, but they ended up acting like it was too much work to give me a simple text to let me know how the leads were going.

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Guy Gimenez

Investor · Corpus Christi, TX · Member since 2012 · 2k+ posts · 1k+ votes

@Aaron Bihl

Any investor who can't negotiate a deal with a seller is NOT a great investor. If you look at 90% of the wholesalers, there is more than anecdotal evidence that they are horrible negotiators...unless of course contracting a retail is considered a top negotiating skillset.

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Bryant Brislin
Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes
3y
Hi Joe, we work various parts of TX, i.e. east (Beaumont), West (Lubbock, Midland-Odessa, Abiline), Central (i.e. Waco), and south (i.e. McAllen). Happy to talk!
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Joe S.Pro Member
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Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
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Quote from @Bryant Brislin:

Hi Joe, we work various parts of TX, i.e. east (Beaumont), West (Lubbock, Midland-Odessa, Abiline), Central (i.e. Waco), and south (i.e. McAllen). Happy to talk!
So you mainly work the areas that you listed?
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
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Work out a JV agreement with them, these are your acquisitions/dispositions people. I pay 100% commission, 5% of the wholesale fee with no cap.
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Joe S.Pro Member
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Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
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Quote from @Eliott Elias:

Work out a JV agreement with them, these are your acquisitions/dispositions people. I pay 100% commission, 5% of the wholesale fee with no cap.

5% of the wholesale fee would not even cover the cost to generate the leads. I definitely couldn’t get excited about a venture like that whereas my leads come by paid Marketing. These are off market leads.

If you find someone to feed you off market leads that they spent over $100,000 a year to produce and you have zero risk or personal money at stake and the only thing you give them in return is a measly 5% of an assignment fee then let me know if they have any more leads And I’ll take them.

P.S if I didn’t read your reply correctly, feel free to elaborate.

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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Quote from @Joe S.:

Quote from @Eliott Elias:

Work out a JV agreement with them, these are your acquisitions/dispositions people. I pay 100% commission, 5% of the wholesale fee with no cap.

5% of the wholesale fee would not even cover the cost to generate the leads. I definitely couldn’t get excited about a venture like that whereas my leads come by paid Marketing. These are off market leads.

If you find someone to feed you off market leads that they spent over $100,000 a year to produce and you have zero risk or personal money at stake and the only thing you give them in return is a measly 5% of an assignment fee then let me know if they have any more leads And I’ll take them.

P.S if I didn’t read your reply correctly, feel free to elaborate.

I pay 5% of the wholesale fee to wholesalers that move my deals with leads I generate.
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Joe S.Pro Member
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Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
3y
Quote from @Eliott Elias:

Quote from @Joe S.:

Quote from @Eliott Elias:

Work out a JV agreement with them, these are your acquisitions/dispositions people. I pay 100% commission, 5% of the wholesale fee with no cap.

5% of the wholesale fee would not even cover the cost to generate the leads. I definitely couldn’t get excited about a venture like that whereas my leads come by paid Marketing. These are off market leads.

If you find someone to feed you off market leads that they spent over $100,000 a year to produce and you have zero risk or personal money at stake and the only thing you give them in return is a measly 5% of an assignment fee then let me know if they have any more leads And I’ll take them.

P.S if I didn’t read your reply correctly, feel free to elaborate.

I pay 5% of the wholesale fee to wholesalers that move my deals with leads I generate.

Thanks for the clarification. :-)
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Joe S.Pro Member
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Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
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Quote from @Kyle Geoghagan:

If you are looking for someone to generate leads for you I might be able to help. I am currently wholesaling and just started searching for leads in the TX market. Are you a cash buyer looking for leads?

I don’t turn down good leads.:) With that being said, I’m having quite a bit that are slightly out of my area that I was considering partnering with a Wholeseller that is familiar with contracting properties and locating and buyers on these particular leads out of the area.

Feel free to PM me if you have leads in my neck of the woods.
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Kyle Geoghagan
Specialist · FL · Member since 2022 · 37 posts · 22 votes
3y
Great! I have been looking about 30-45 minutes outside of the bigger cities as well as some within those cities (Dallas, Houston, Austin, San Antonio, Corpus Christi, etc). If any of those sound interesting to you i'll let you know! Where is your area?
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Aaron Bihl
Investor · San Antonio, TX · Member since 2017 · 344 posts · 268 votes
3y
@Joe S. what areas in particular are you looking for? I may have folks I can connect you with. I'm fairly well connected with some good operators in most parts of texas.
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Joe S.Pro Member
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Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
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Quote from @Aaron Bihl:

@Joe S. what areas in particular are you looking for? I may have folks I can connect you with. I'm fairly well connected with some good operators in most parts of texas.
Right now most of my spill over is Austin and the corpus Christi area.
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Vanessa Ursery
Realtor · Corpus Christi · Member since 2019 · 39 posts · 10 votes
3y
Quote from @Joe S.:

Quote from @Aaron Bihl:

@Joe S. what areas in particular are you looking for? I may have folks I can connect you with. I'm fairly well connected with some good operators in most parts of texas.
Right now most of my spill over is Austin and the corpus Christi area.

I’m in corpus and team up with wholesalers all the time.
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Guy Gimenez
Investor · Corpus Christi, TX · Member since 2012 · 2k+ posts · 1k+ votes
3y
@Joe S.
Why would you want a wholesaler instead of a buyer? Your chances of monetizing those leads will decrease significantly if you're handing them over to the next wholesaler to mark them up and then throw a retail deal out to seasoned investors who actually buy property. Just something to consider.
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Joe S.Pro Member
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Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
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Quote from @Guy Gimenez:

@Joe S.
Why would you want a wholesaler instead of a buyer? Your chances of monetizing those leads will decrease significantly if you're handing them over to the next wholesaler to mark them up and then throw a retail deal out to seasoned investors who actually buy property. Just something to consider.

I agree. The challenge is I need the whole seller to help contract and find the buyer the deals for areas I’m not in.
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Bryant Brislin
Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes
3y
@Joe S. mainly work those areas, yes, but totally open to ideas. When we call on the big cities, we don't get many bites since they get so saturated with calls.
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Jonathan D Parry
Investor · Leander, TX · Member since 2022 · 4 posts · 1 vote
3y
Relatively new to the REI world but generally business savvy and have a good network to tap into. Would be happy to partner with someone like you to help you convert some of those leads in return for some experience for me. DM me
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Guy Gimenez
Investor · Corpus Christi, TX · Member since 2012 · 2k+ posts · 1k+ votes
3y
@Joe S.
My point is that the leads will be meaningless if you can't monetize them, and you can't monetize them if they're marked up beyond what a seasoned investor can pay. By providing your leads to a middle man (wholesaler), you're adding in an extra layer of cost and inefficiency that isn't necessary. As an end buyer, I would be willing to have my assistants work the leads, schedule appointments to walk them, and I would contract on them as the actual buyer when the numbers make sense.
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Matthew CrivelliBusiness Member
Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
3y
@Joe S. Just steer clear of New Western Acquisitions.
[email protected]413-348-8346
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Aaron Bihl
Investor · San Antonio, TX · Member since 2017 · 344 posts · 268 votes
3y
Quote from @Guy Gimenez:

@Joe S.
My point is that the leads will be meaningless if you can't monetize them, and you can't monetize them if they're marked up beyond what a seasoned investor can pay. By providing your leads to a middle man (wholesaler), you're adding in an extra layer of cost and inefficiency that isn't necessary. As an end buyer, I would be willing to have my assistants work the leads, schedule appointments to walk them, and I would contract on them as the actual buyer when the numbers make sense.

I think where Joe is coming from is that these are different skill sets. Buying and negotiating deals direct to seller is a very unique skill set. Someone may be a great investor but going direct to seller is a different ball game. I know a lot folks who own rentals or flip houses but negotiating a deal with a crackhead isn't really in their wheelhouse.
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Guy Gimenez
Investor · Corpus Christi, TX · Member since 2012 · 2k+ posts · 1k+ votes
3y
@Aaron Bihl
Any investor who can't negotiate a deal with a seller is NOT a great investor. If you look at 90% of the wholesalers, there is more than anecdotal evidence that they are horrible negotiators...unless of course contracting a retail is considered a top negotiating skillset.
2 Reply
Joe S.Pro Member
OP
Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
3y
Quote from @Guy Gimenez:

@Aaron Bihl
Any investor who can't negotiate a deal with a seller is NOT a great investor. If you look at 90% of the wholesalers, there is more than anecdotal evidence that they are horrible negotiators...unless of course contracting a retail is considered a top negotiating skillset.

Almost all of the deals I’ve done over the years, have been negotiated face-to-face with the seller. Virtual contracting and then endeavoring to find an end Buyer long distance is something I have not done much of. Actually, I’ve never claimed to be a Whole Seller, because we closed on most of our own contracts ourselves. I’m at the top of San Antonio and a few years back we got a lead in Taft Texas and I drove all the way there and contracted the deal on location after meeting with the seller and walking the property. There’s been other times I’ve drove very long distances and the seller was shopping multiple offers or was not serious about selling. I don’t have anybody trained to help me in this area at the moment and I just don’t seem to have the motivation to do long trips to see properties on a maybe any longer.

It’s a bit humbling to know that there’s people that have been in the real estate space much shorter Than me that has this long distance thing down pat with that being said, I am definitely open to pointers or training in that area..
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