I have a buyer. He has 3,000 option money. I am trying to find him and his wife a 3-4 bedroom 2 bath for L/O or seller finance. Do I just start calling up FSBO and absentee landlords to see if they are interested in this and then have him and his wife start looking at homes? This would be my very first deal.
Thanks
If you simply bring together this prospect with a willing homeowner, what is your position in the deal and how will you be paid?
I would suggest you grow your buyer’s list. A great way to do that is by joining your local REI club and letting people know you are a wholesaler. And yes, do contact FSBOs and absentee owners. When you find a motivated seller, get the house under contract. Remember, you contract price has to be low enough for you to be able to add your fee to it and it still be a deal for your end buyer.
If it is a match for your first buyer, great. Assign the contract to that person for a fee. If not, then you have a list of other buyers you can present the deal to.