If you are new to wholesaling and birddogging, how do you find a good partner? The real estate groups in my area have shut down for the summer.
Although I have answered a couple ads on craigslist, the investors either wouldn’t pay much or wouldn’t tell me what they wanted. Consequently, I’m a little reluctant to answer “we buy houses” ads.
When I tried to work with a cash investor who says on his website that he pays cash for houses, it didn’t work out. One of the realtors I contacted is a real estate investor, and has been in the business for 13 years. He said that it has been his experience that cash investors never buy because their standards are too high. And they tend to string along 50 scouts
who are hoping to get commissions from them.
Thanks!
Hi Antonia,
First off, welcome. I totally agree with you. It is difficult finding a good partner. What I would do in your situation is to call the “We buy houses”. It would be good practice and will increase your buyers list. They may just buy something from you. Also, how about starting your own REI club? You could set it up on the meet up dot com website and make it year round. You never know who you might meet. What area are you from? I’m from Levittown, Pa and have a mentor who is from Delaware. I am just starting out again to do this. I am lining up with a Realtor who works with investors, so that I can find REO properties and comps for my area. I have a friend that I go to church with that has his own rehab business to do repair estimates. So I am pretty much ready to go. You need to get yourself out there. This is the type of business that requires networking and talking to all sorts of people. Don’t give up if this is your dream. You don’t want to regret it without really trying to do it. HTH
If you need some more advice from me or anyone else on this board, just ask away. PM me if you want to talk more.
Sincerely in Christ,
Leesa C
Eph.2:8,9
Why do you want to complicate things with a partner. Unless you need a partner for financing (which you don’t for wholesaling) there is really no value in adding one. Unless you define value as “Twice the pain as doing it alone”
I would steer clear of partner deals, splitting risk still leaves you very at risk. Splitting profits leaves you with 1/2 the money.
Best of luck
I am in the northern jersey market as well. I’d recommend hooking up with the GSREIA and finding the successful investors. There are plenty of deals in the Jersey City area that people are doing. take a look.