Me and a buddy were looking into wholesaleing. I have been working on a rental to but I love selling and people. I just wanna know what where your struggles when starting and what are some thing to watch out for regarding the law?
Investor · Lake County, OH · Member since 2016 · 124 posts · 55 votes
6y
Hi! First, know the law in your state and do it correctly! Why are you interested in wholesaling? There are other ways to do sales and connect with people... just asking! Good luck!
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
6y
The struggles I see with many wholesalers is thay can't seem to do it correctly.
You need to tell the selelr you are wholesaling it ... this is not a bad thing. The fact we flat out tell them IS what makes them to prefer us wholesaling it.
Then never just try to negotiate with the seller to the lowest number they would accept.
It is all about YOUR numbers. If they can't match your maximum allowable offer you walk. DONE.
Wholesalers are often too eager to get a deal they will sign anything they can get.
You WILL fail.
The #1 hurdle with wholesaling and REI in general is finding deeply discounted properties that are off market, like clockwork, on demand and fully automated... at low cost.