Wholesaling

[Christopher George]

Are there any seasoned wholesale investors willing to school me to the game? I did already take some action by finding a cash buyer , but I need to get some info on things like how to properly figure out the repair costs, what I do step by step when I find a good deal , how to know how much I sell the contract for , etc. I know the basics but I need to know all the little details so it can click.

[Richard Lowrance]

@Account Closed

Hey Christopher! I'll be more than willing to help..... For Free :)

First thing I recommend is joining your local Real Estate Investing Club and start networking. You most likely don't have any business cards so when people ask say you don't have any or "I'm all out"

2. You'll want to find a realtor or some one with access to the MLS there in your city. This will allow you to start learning how to determine what the value of a property by seeing what other houses sold for comparable to your subject property (Comps).

3. The best way to start finding deals is to drive for dollars. Direct mail has diminished drastically over the last several years. When you drive for dollars you can either look for houses that appear vacant, or just start knocking on every door. Dress for success when you go door knocking. You want to look professional and appear professional. I once knocked 89 doors before and finally received an open seller. Made $7,000 off the deal! My knuckles hurt. My door approach was made up on the fly "I'm Richard, you wouldn't happen to know anyone looking to sell their house by chance would you" ... My more desperate pitches went along the lines of "Hi I'm Richard I desperately need a house in this neighborhood. I have cash cash (say it twice)  do you know anyone who's even thinking about selling?" The tone you have will take on a slight desperate sound when you say the word "anyone"

4. Use Zillow to get a birds eye view and rough estimate of a property's value. People knock Zillow but to this day I use it when a seller first calls. I always run comps and never rely just on Zillow. However, when I first started out and didn't yet have access to the MLS.... I had to use the resources available to me.

Finally, I could go on for days because there's so much. These are first steps I recommend with the first being to get involved with your local real estate club (Google local Real Estate investing club Virginia Beach, VA). Finding the deal is always the hardest part. Selling a deal is not difficult if you contract it at a good price. Reach out to me for anything I'd love to help anyway I can!