Is it better to get your buyer’s list first when wholesaling or better to find the property first then worry about finding a buyer? Thanks, Mike
It is like the chicken or egg, in part.
However, to succeed in this business, you need to do one thing more than any other. You must purchase, contract, assign real estate.
If you choose to buy the property instead of assigning, then time is not of the essence. Also, if you buy and not just birddog or assign the contract, then you can sell the property retail with a realtor on MLS. I have proven to myself that you will get at least 10% more on MLS. I say 10% because when you use MLS, you have a 6% realtor commission and you may have to pay 1/2 the transfer taxes and recording fees. You will get that 10% back in the sale price.
Can you assign the contract on the MLS to buyers?
What is the difference in bird dogging and wholesaling? I have a deal and am looking for a buyer. However, I need $5,000 to secure the deal which I don’t have. As a wholesale deal I would make $50K so it would be worth it to me to come up with the $5K. In bird dogging do you forgoe the earnest money? The buyer gets the contract instead of you? I don’t understand.