Updated almost 8 years ago on . Most recent reply
Newbie Wholesaling in Union County, New Jersey
Hi Everyone,
My name is Lawrence Good. I'm just starting out wholesaling in the Union County area of NJ. I just sent out my first directmail campaign and I'm starting to get some calls as of yesterday. Im not so great on the phone yet but, I'm sure that will come with time as I talk to more and more sellers. One of the biggest problems I've had is finding a real estate agent to work with. I think my biggest problem in the past has been making bad offers, some too high and some too low. Part of the reason for this is because I haven't been able to get thee best property info (comps etc). Does anyone know of any real estate agents in the area who work with wholesalers ?
Most Popular Reply
The point of wholesaling is to not work with realtors my friend, usually.
You are essentially taking the place of a realtor. Realtors require a percentage of selling price, you incorporate that into your assignment contract.
70 - 80% ARV minus repairs and maintenance/holding costs. Cant do any better for the sellers or else for you and your investor its not worth it!
Just put in the time, do due diligence, run the numbers, get a house under contract, find cash buyers, a deal is a deal is a deal for them.