Investor Buyers and Wholesaling

[Adam M.]

Hey Bigger Pockets Family!

This forum post is specifically to investors, cash buyers and anybody else you want to label as someone that is buying houses as an investment. 

As a wholesaler, I absolutely love to network. What I love doing more is marketing, negotiating, acquiring and selling great deals I find. That's where my passion is. Most of my time is focused on this task as it is how I earn my living. But with wholesaling real estate, I must have buyers to assign contracts to and do deals with.

BUYERS I get that you may come across a ton of newbies, tire kickers and people that honestly don't know what they're are doing, which I understand. But when I ask you what you're buying criteria is, I don't need to know your life story, I don't need "free consulting" and I don't care how you operate your business. That's none of my business. What I absolutely do need from you is:

WHAT. WHERE. HOW MUCH.

Most buyers I connect with I literally say that's all I need to know and I typically get a response like, "Just forward me anything you get and I'd love to buy from you if the deal is right!".

First of all, I don't know you like you don't know me. I'm trying to build a relationship with you and how to help you best. Your criteria is crucial because it helps an assignor focus on finding the right deals and it prevents us from ruining our reputation with sellers in the market. A "good deal" can mean anything. Ever heard of speculation?

Second, co-wholesaling is not a good thing. It's actually considered operating without a license. Look at what's going on with wholesaling in Ohio. It's banned and illegal to assign properties. Don't believe me? What did the Second Clause used to say in the Colorado State Purchase and Sale Agreement? Exactly. Now that assignment provision has been removed. I wonder why.

If a buyer isn't specific about what their criteria is, I'm assuming they are a wholesaler trying to leverage my hard effort for half of an assignment fee. I get it, we all "win". However that is not how I choose to operate my business for very legitimate and legal reasons and I am in this business for the long run.

So to all investor buyers out there, just remember to help me, help you.

Let's make it happen in 2017!