Hello All
I was wondering if anyone that does wholesale can give some insight on the type of package / presentation they would present to the buyers they do business with.
what do you include. ??
I was thinking of including the ARV , COMPS and some pics with the needed repairs.
at least 3 COMPS with each property .
is there anything that i am missing or should include to make the presentation seem more professional or should i say more exciting to buyers.
thanks in advance .
Hi,
If you are selling to investors all you need to supply is:
Needs minor, moderate or major repairs
3 Bedroom
2 Bath
1600 sq. ft.
2 car garage
6500 sq. ft. lot
Address
City
Zip Code
Price $123,456
Because I am not buying it without seeing it (Or purchasing across country my hand selected GC seeing it on my behalf) and I have been in the business long enough to know that we all take the best photo’s, and I will not except your comps, I don’t care if your the president of NAR, I get my own comps off the computer with “All” solds, pendings, and currently listed!
Because I know you as a seller will hand select the best comps if you only supply “3” of them, and I want to ensure that the comps have not been altered (I have seen it before) and I want to know what the whole 1/4 mile, 1/2 mile, 1 mile and beyond is doing in the market!
Now a few general photo’s are good to solicite my interest but the repairs we would estimate and judge for our self!
If your selling to a retail buyer who does not mind handling moderate repairs and can go after a 203k loan some of the extra’s are nice, however there again the lender requires a Licensed GC do the estimate and supply repairs photo’s in the package, and any buyer who does a retail deal will end up running full comps, and at very least the lenders appraiser will end up pulling full comps!
I have never created a package to sell a wholesale property, short of the things I need to market and advertise the property to prospective buyers!
However as a wholesaler you should have a buyers list and try to acquire what your buyers are seeking so you don’t have to market and advertise blindly to try to quickly find a buyer because the odds are less than 50 / 50 of you finding a unknown buyer for a property you have a contract on quick enough (Within 3 to 10 days) to still close it in 45 days and make a profit!
GR
You should definitely build a buyers’ list first and network with these buyers.
Basic information, like property comparables, estimate of repairs and photos is all you need really to entice a buyer, but you as a savvy wholesaler/investor and knowledgeable of the market is what a buyer wants to see even more. Once you have a few trusted buyers, it is just a matter of calling them up and tell them about a hot property. They appreciate the attention and priority in status among your other buyers.
Farm a buyers’ list, ask what properties they are looking for and then go look for properties.
I been looking for it for so long. This really helped me alot. Thanks! 