This is great information!! With this I am able to expand in different marketing areas to build up my cash buyers list. Very helpful, indeed!
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I made the mistake of not putting the property under contract first as a co-wholesaler before emailing it to my VIP list. Thks again. June S. Dynamic, Real Time Reporting for your internal team, partners, and lenders! Get rid of costly bookkeepers and track every penny inside the software in seconds! Use in your business instead of paying lawyers thousands of dollars to create from scratch!
Create, print, and email detailed scope of work sheets to contractors, then enter bids as you get them. Easily present detailed rehab budgets to buyers, partners or lenders.
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Lay out your own projects prior to doing the rehab. Build rock-solid credibility with lenders. Full funding proposal for your deal created in minutes! Send to lenders, and get your deals funded! Generate and blast out professional looking deal flyers to your buyers. Save time, weed out bad deals instantly and price deals correctly for your buyers! Google Whitelisting 10b.
Yahoo Whitelisting 10c. Max Offer Tutorial 3. Purchase Assumptions Tutorial 4. Rehab Budget and Project Management Tutorials 5. Financing Assumptions Tutorial 6. Exit Strategies Overview 6a. Exit Strategy 1: Rehab and Flip 6b Exit Strategy 2: Rent 6b Exit Strategy 2 part 2: Rent, Refi and Hold 7.
Sharing and Posting Deals and Presentations 8. Comparable Sales Case Studies A. Wholesale Cash Deal 1 B. Wholesaling Rental Properties C. Structuring Private Money Tutorial 1 F. Mixed-Use Financing Proposal I. Archive B. Relationships 3 Reasons to Follow Up More! Share This Page. JD Baker. Amos Goodman. Glad you like it! Ask an experienced investor to show you. These guys will know what is typically paid for things.
Investors usually pay less for their rehabs because they are often able to keep the contractor busy with work. They will probably give you higher repair estimates. This will cause you to offer less for your deals and offer up better deals to your buyers. Your buyers will love you for this. You want people begging your for more deals, not begging you to stop insulting their intelligence.
It can be difficult to push a deal out with a high price and then lower that price. Sometimes people would have bought at the lower price if it was priced that way from the beginning, but will ignore the price change and the deal altogether if lowered later. Wholesaling is really all about building a reputation and relationships. It can be hard to find a willing and capable buyer when your list of buyers is small.
You should always be working on building your buyers list from the very beginning. What you want are people that can pay cash, make decisions quickly and do their own due diligence.
How to Find Hungry Cash Buyers Instantly - Free Content!
It also helps to find buyers that are interested in properties in areas that you are focusing on. Find more of the investors that are looking for what you are selling or going to be selling. What I mean by this is that it is very important to treat the very serious buyers with extra courtesy.
These investors are usually busy and will simply ignore an email that looks as though it was a mass email blast. Sometimes, I just feel that if it was an awesome deal, they probably already called their serious buyers and are now just sending it out to their list. We want to know that we have dibs and that it is a good deal that is worth spending time on.
Treat your VIPs correctly by calling them individually and giving them hours exclusive access to the deal.
If you have a small group of so-so investors, you might want to send individual emails that are personalized to them, even if you are sending several of the emails one after the other. This can be a problem when someone is living at the house. You will want to get as many pictures, or some video, of the house to show your potential buyers.
If someone is very serious, you would then schedule with who lives there to view the property again. This is usually done by having the potential buyer represent himself as a contractor or a business associate. The reason given is that if it is non-refundable, the wholesaler you will get it no matter what. Just have the non-refundable earnest money paid to the title company if you are asking for a lot. Try to get 4 weeks if you can. You should be marketing it anyway so that you can be building your list. Nothing builds lists quite like having inventory.
1. Look Online
Plaster that deal up everywhere. Stick bandit signs all over the area where the house is if legal in your area. You could also put some ads on craigslist. Get creative. Maybe a publicity stunt… that would probably just be embarrassing. As soon as the seller signs the contract and you have it safely receipted at the title company, you need to start your blitz to get it sold. Time is of the essence. Use it wisely. You have to be careful because you might find it harder to find a buyer than you thought. Knowing that these 9 reasons are the main causes of not being able to find a buyer for you wholesale deal, I hope you are able to prepare yourself so that it will never happen to you.
Sleep well, my friends. Photo: woodleywonderworks. Visit his blog: Flipping Junkie - A House Flipping Blog to follow along with him as he shows, in detail, the marketing he is doing, the leads being generated, the lead and deal analysis, the rehabs and really, just about everything. He also provides real estate investor websites at LeadPropeller. OMG, everyone should print this and tape it to their wall or bulliten board, and read it every day! You have to write one for sellers too! I will point out bigger pockets in general seems to frown at the idea of building your buyers list before you have deals.
How I Sold My Latest Wholesale Deal (Find Cash Buyers Now)
Many of them suggest to have the deal and if its an actual deal you wont have a hard time finding a buyer. Curious as to what you think about that thanks. I used to share that opinion. Mainly because I got tired of people calling me and asking me a million questions.
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It was annoying because of the way they went about it and the fact that the vast majority of them would never even find a deal to call me about. The calls should not be just an obvious asking of questions from a call sheet. If they are handled differently, it makes all the difference in the world. The purpose of the call should be to start developing relationships.
So, I propose just calling and introducing yourself and being honest about just starting out. During the conversation you should be able to determine if they are serious buyers and whether they can pay cash. Now, when a good deal comes along, you could have a good idea of who to call first. Excellent Article, Danny. One of my favorites in a long time not just of yours, but in general. I have several cash buyers ready to purchase atleast a few of these The banks have not listed the properties with a broker and seem to be holding on to them.
And I believe that recently Banks are now requiring a buyer to hold the property for 90 days — Any help would be greatly appreciated Danny Katie. Are the banks larger banks or smaller, local banks? That is what you will have to try and do. JP did an amazing video on finding cash buyers. My questions are: 1 How do you structure the sale when there is a realtor involved?
Thank you for the great video. Luckily my mls also uses paragon, so it works exactly the same. Save my name, email, and website in this browser for the next time I comment. Watch and Learn… Recommend you watch this in full-screen mode so you can really see it… By the Way… I mentioned in the video that I use Investor Carrot for my real estate investing websites. What do you think? Mark on at. Donny on at. Bill on at. Steve on at. Looking forward to the next podcast! Niccole Fales on at. Cathleen Solomon on at. Arsalan on at. Aurelia Peart on at.
This looks like a good start for Thanks for sharing!