As a buyer, how do you find a wholesaler?

[Shari Posey]

As a buyer, how do you find a good wholesaler? Also, are wholesalers only interested in cash buyers?

MODERATOR: THIS THREAD IS FOR DISCUSSION OF FINDING WHOLESALERS, NOT OFFERING PROPERTIES OR TO WORK WITH SHARI. ANY SUCH OFFERS WILL BE REMOVED WITHOUT NOTICE.

[Sharon Vornholt]

Shari -
I am a full time wholesaler, and I can tell you this is very much a relationship business. You should go to the REIA meeting in the area you want to work even though it is inconventient. Like the other
folks said, a wholesaler will want to get to know you, and they will want to know that you can close the deal quickly.

Personally, I work with the same people over and over again. But, all of these investors were new to me at one time. I know 100% when I write a contract with these buyers, that they will close in 7 - 14 days.

I only work with cash buyers, but that cash can come from a number of sources such as:

A HELOC (home equity line of credit)
Funds from a self directed Roth IRA
An investor friendly bank ( I still have a couple of folks that use these)
Private money or hard money
A money "partner" in the deal (find them at your REIA meeting)
Actual Cash! Yes there are still folks out there that have cash

Like John said, real wholesalers like me that are known to have good deals, they do a lot of marketing. One place my deals don't come from is the MLS. My deals come from my direct mail marketing which has been very successful.