Wholesaling Queston (Please help)

Bird Dogs, Wholesaling
1

I am a newbie investor and have a queston on how wholesaling works. I plan on making calls to property owners (advertised and non-advertised owners), and attempting to put properties under contract with them, and then wholesale them to other investors/retail buyers. I have a couple of questions:

  1. How do I motivate a seller (besides offering them a possible way to get rid of the property) to allow me to put their property under contract, for lets say 90 days. Do I need to offer them a $$ deposit, which would be non-refundable to me if I don’t sell the property?

  2. What if it’s a realtor that lists the property? Should I stay away from those?

  3. Some of what I will do will b in another state from where I live (6 hrs drive); I already own a rental there and am getting a grasp of that market; any “Don’t Does”?

  4. Any catchy phrases upon initial call to a prospective seller (on an advertised property or not)?

  5. Any particular exit strategy that works better than others if I can’t find a buyer?

Thanks for help on any issue(s) that I have listed!!

2

  1. You cannot motivate them, they are either motivated as is or not motivated. You are offering quick closing. You do NOT offer large deposit, or any for that matter.

  2. If it is with a realtor, then he/she will most likely want the buyer to come to the table with their own lender, or cash. Place it in land trust and you as a trustee then once you find a buyer, you make them the benefitiary and your trustee fee as the assignment fee

  3. Don’t… do it locally first

  4. Just ask them what the least they are willing to take if you paid all cash for the property. Sound confident when you say it not hesitent.

  5. if you can’t find a buyer, then your options are to buy it or cancel the contract