What are the fundamental steps into getting the wholesale process up and running? Since i am a newbie, God Bless!
build buyers list
finding leads
assign
get money…
it’s not that simple though everyone find it very Simple…
I agree with WholesaleKid and I will add in there get a system, and find private lenders
I am a firm believer in building your buyers list through the marketing of actual properties. Until you have a buyers list that can stand on its own, take your deal to another established wholesaler and split the profit. Not an exclusive agreement, though, you will maintain the right to sell on your own. With your concurrent marketing, your buyers list will grow quickly.
Gurus will give you all kinds of email collection techniques, but its quality of data over quantity. People who contact YOU as a result of marketing a property are buyers who are looking NOW! Over the course of your marketing you will get a lot of calls and hopefully a buyer, but you ask all buyers if they’d like to be notified as new properties become available. Marketing and advertising is how you build your buyers list, and you don’t market something without a product.
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Find the deal.
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Get it under contract.
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Then, partner up.
Bringing in an established local wholesaler to help you sell your deal, after you have found a deal on your own, is the best route for starting out.
Here’s the thing…
You could either wait to find a deal then start looking for buyers, just hoping and praying that you can find one in time…
Or you could use my HUD hound strategy and Reverse MLS strategy (posted somewhere here at reiclub) and have your buyers list up and running in 10 Days…Then find deals.
Then instead of appearing like a desperate panic stricken newbie who is begging for a buyers, you’ll just make a few phone calls and send a few emails to an already established list of people.
It works as sure as 2+2=4. I’ve done it and countless others have done it…
You’ve got two types of leverage in real estate. Money leverage, like putting 5% down on property and financing the rest or you’ve got relationship leverage.
Relationship leverage is what wholesaling is all about. Great deals come and go, but solid buyer relationships pay the bills.
Why wait for a deal to market, you’ll wreak of desperation, you’ll end up sounding like the pushy car salesman who needs to reach his quota or be fired.
Hey I was trying to find your HUD and MLS strategy’s. Could not find them in the forums. Are they articles?
Hello,
I was interested in what you posted in one of the forum discussions.
As follows…
“Or you could use my HUD hound strategy and Reverse MLS strategy (posted somewhere here at reiclub) and have your buyers list up and running in 10 Days…Then find deals.”
I have been searching all day for this post and I could not find it. Could you be so kind to point me in the right direction so I can research what you are talking about and hopefully implement it.
I thank you in advance for your time as I am sure you are very busy!
Best Regards
I would get my buyers list started, then look for deals that they are looking for…
save your time…
its easier to find a house for a buyer, then a buyer for a house.
If you can master these two principals, you will do just fine. To be a great wholesaler you must master
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Marketing (for sellers and buyers)
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Negotiating (to get the price low enough to make a deal attractive to a buyer and able to convince the seller your offer is in their best interest.
Everything is is just cookie cutter procedures.
This is what we use as a model: