New to wholesaling & need answers before wasting anybody time.

[Charles Hunter]

Hello everyone , I'm new to wholesale but I bought a list of absentee owners in my state(Illinois) & before I try to get property under contract , I've been reading David Greene book "BRRRR" & taking what he said about wholesalers & try to be the opposite of that. , 1. I just need to know how to approach them to get them to sell. 2. How to find buyers & 3. What investors/buyers are looking for when buying from a wholesaler. Thanks in advance & I hope to get someone answers. If there any real estate agents , contractors, property managers, investors ,lenders who may be interested, please also comment , thanks!!

[Kennith Petty]

@Charles Hunter Hey, I am also new and have only done a couple of deals myself, but I saw that no one more experienced has chimed in yet so I thought I'd give you an answer to the best of my ability.

1. I just need to know how to approach them to get them to sell.
So you want to find people that are motivated and already want to sell or need to sell. So you can simply ask and figure out their situation. If you are trying to get people to sell that aren't motivated or don't need to you will not get them to a price you can wholesale it at. So just simply ask if they're open to selling any of their properties and figure out why they are.

2. How to find buyers
Assuming you've done the first part right and you've gotten a deal at a good enough discount and market it this should be the easiest part. You will get a buyer for a good deal. You can find cash buyers in Facebook groups or at local REI meetups. Just start networking with flippers in your area. If you really need to you can post your deal on Facebook marketplace/craigslist or JV with another wholesaler.

3. What investors/buyers are looking for when buying from a wholesaler.
Investors will want you to have a deal worth their time. So you want to give them as much good information on the deal as possible. Give them the address with pictures of the property and make sure you have an ACCURATE ARV with rehab costs. If you're new you can get a contractor or someone to help you get rehab costs. Now it's possible to get a buyer if you don't give them ARV or rehab cost, but most of them won't be happy with you spamming their emails with your deal that might not even be a deal and it will be a lot harder for you.

Hope I answered your questions and if anyone more experienced sees anything wrong with anything I've said feel free to correct me.