I’m looking to start wholesaling in Massachusetts. I understand the concept of finding distressed properties and the strategies of going about this but my question is about working with the buyer. When you are working with a buyer I would assume they would like to see the property you are offering not just a drive by or pictures. How would I go about making this work? I’m sure the seller wouldn’t want me to keep bringing different buyers in if the first one or two said no and what if the buyer started engaging in conversation and figured out how much I was trying to make for an assignment fee?
@Chris Johnson Personally I recommend focusing on finding vacant properties so you can avoid that scenario entirely. Otherwise your options are: 1. Tell the seller that you have an investor partner that wants to see the property before approving the purchase—downside to this is you really can only do it once. So you better have a buyer that is 90% sure they want to buy the house first.
2. Disclose to the seller that you are wholesaling the property. There are lots of people that claim to have success with this. 3. If you have 2 or 3 people that are seriously interested then tell the seller they are contractors you are getting quotes from.
The reality is that without telling the seller exactly what is going on you will probably not be able to just bring a string of tire kicking want to be investors through the house. Definitely do some screening on your end to determine which of your buyers is serious about purchasing the property before you take them to see it.
@Lydia T. Thank you for your insight. I appreciate the advice