In this episode, I discuss the one secret to success in wholesaling. You might think it’s some new shiny software widget, or perhaps some super-secret wording on a postcard, but it’s even simpler than that…
I see lots of wholesalers advertising properties for sale, in some states, they are asking for grief from the authorities. You see, in most areas, only a Licensed Real Estate Salesperson may advertise real estate for sale that they do not own in exchange for a fee.
Trying to find the right buyer for a house is far more challenging than finding a house for a buyer. As a wholesaler, imagine how much easier it would be if you could simply go shopping for a qualified buyer, knowing exactly what they want, how they intend to fund the purchase, and how much they are willing to pay. This method makes wholesaling EASY so why not do things the easy way?
Finding qualified buyers can be challenging because there are lots of “tire-kickers” out there. To make your life easier be sure to qualify any buyer you intend to work with to be sure they have the ability to close. If a buyer doesn’t have any of their own funds to invest be weary because they may not be able to secure the funding they need to close on your deal.
Wholesalers, Are you having a tough time finding cash buyers? Partner up with a hard money lender in your market that has a good reputation. Introduce them to your buyers so they can be qualified as a buyer. This step will save you a ton of grief and time sitting alone at the closing table.
Working with well-qualified buyers who can prove their ability to close will save you tons of time and embarrassment caused by a pretender buyer who flakes out on you at closing.
As a wholesaler, when you focus on finding houses for buyers you will save a ton of time and energy on marketing because you can refine your efforts to a specific type of property in a specific area.