Deal Origination

[Dondrea Geter]

Hello, I was wondering if anyone out there could help lead me in the right direction. I have been trying to kick my wholesaling business off for a while now in the Marietta/ Cobb county area. The problem and challenge I am having is finding good deals.

From what I was told and how I was taught, good deals are made and not found. Doing internet searches and having many resources of other wholesale investors like myself is not beneficial because once I find it and it is being marketed, this means that it is already being stepped on and another wholesaler like myself already has it marketed with their fee already attached.

Can anyone give me advice on finding good deals that deal directly with home owners fresh off the press. Thanks!

[Adrien C.]

Howdy- to be a successful wholesaler, you have to find your own properties. You are right that trying to wholesale other wholesaler's properties is not worth the time unless that wholesaler is on board with you and willing to give you a cut. You lose all credibility with your buyers if you are marketing another wholesaler's property at a higher price. Think about it from the investor's point. He/she get a property from wholesaler A at $25k and review it. Three days later they get it from you at $28K. They know exactly what you're doing and will probably never open another email from you. 

To find your own properties - you either need to market for them (direct mail, bandit signs, Facebook posts, etc) or physically drive out and find them (Driving for dollars). Both of those options have numerous posts on BP that you can search and read about. In addition (and you may already have done this), you will want to learn some RE basics, contract basics, rehab basics, and build relationship with cash buyers and rehabbers. I would recommend that before you jump in the wholesaling pool- be willing to commit hour upon hours of self-education to learn RE and hours upon hours to find motivated sellers. Also be prepared for the mental rollercoaster of being in sales/marketing (which is what wholesaling really is). It's a fun ride but not the joyride gurus make i sound like.