Real Estate Investor · Springfield, MA · Member since 2014 · 39 posts · 8 votes
Hello everyone.. I had a question for all the cash buyers out ther...
what do u look for when u receive message from a wholesaler saying they have a deal for u? Of course the numbers always have to work but what else catches your eye and makes u want proceed with the wholesaler?
What exactly do u want them to list on that 1st email that makes it easier for u to breakdown if its a deal for u or not?
Anything that u find annoying that a lot of wholesalers do?
Any feedback would greatly appreciated
Thanx
Denver, CO · Member since 2013 · 185 posts · 160 votes
12y
@Daniel Morgan The biggest problem i see as a cash buyer is unrealistic ARV's. It is a big waste of time to work through potential deals only to realize after doing initial estimates that the ARV stated is too high to make profit. Many wholesalers never see the property so they have no clue what rehab costs are, thus underestimating. Don't find bad deals and pawn them off on unsuspecting new flippers. Just be honest and realistic, that's the most important thing.
Real Estate Investor · Springfield, MA · Member since 2014 · 39 posts · 8 votes
12y
Thanx @Kevinfletcher for ur feedback, how would u suggest to get the proper repair cost/arv for someone who is wholesaling the property from another state?
What im tryin to come up with is a professional straight forward package i can send cash buyers threw email. I feel theres alot of bogus wholesalers out ther messing it up for hard workers such as my self...
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
12y
This may seem petty, but proper spelling, punctuation, and grammar goes a long way toward a professional appearance.
As far as content, look at MLS listings. You don't need all the detail some MLS listings have, like dimensions of the rooms, but the description and information about the house is useful. An address. Pictures. A description of the work that's needed. Your numbers.
If you're going to be attempting long distance wholesaling, you need boots on the ground that can go have a look and give you an accurate assessment of the condition and an estimate of the repair costs. Without this information there's no way you can determine if you really have a deal. And having a real deal is the key here. Details and pictures won't make a crummy deal sell.