Wholesaler in winnipeg

[Bryan Wesley]

Hello,

I am a new real estate investor from Winnipeg.

I have been involved in the construction industry for the past 12 years

I recently purchased and completely gutted and remodelled my primary residence.

[Account Closed]

@Bryan Wesley

You came to a good website Bryan, there is SO MUCH information on this site, that I relate it to an encyclopedia. Problem with encyclopedias is that you have to know what you're searching for, and it sounds to me like you already know what you're looking for. I'm not sure if you want to be wholesaler or are already wholesaling, so I'm assuming you've never made a wholesaling deal yet? You also want to know everything there needs to be known about wholesaling and finding cash buyers correct? I can suggest a few things...

1) For cash buyers, go to local real-estate investor meetings. The groups that I feel to be real and legit is Team Made real-estate and Manitoba real-esate investor association and can be found on meetup. If you want people who will take your wholesale deals, you have to find the flippers and buy and holders(rental property owners) in your area, tell them that you're a wholesaler and understand their criteria. If you know what your buyers are looking for, then you know what kind of deals to make. If you have a great deal for a house flipper but only have buy and hold buyers, then you're either going to be desperate looking for a flipper or lose the deal all together. To answer the age-old discussion on here....build your buyer's list first, not after you get the deal!

2) Wholesaling is the simplest to understand, but the hardest to perform. Mainly because many people don't build a foundation before they start. To me, what doesn't get talked about much is bird dogging. Bird dogging is driving around looking at properties, finding homes that could be a good potential investment(distressed properties), and selling that lead to anyone who's interested. Wholesalers, flippers, buy and holders, etc, are people who pay you for each lead they're interested in. So already, you're building your buyers list for a variety of investors, and probably getting $10-$50 per lead. You're building your buyers list, reputation, experience, and your foundation while getting paid to do it. Pretty sweet deal!

3) Deals are made, not found. The main difference between bird dogging and wholesaling is negotiation. Instead of finding a potential property and giving it to someone else, you act on it instead. You find the owner, you make a offer and negotiate with them to put the property under contract. If everything goes well, you give that deal to someone else and make a commission out of it. So if you want to be a master wholesaler, you must be a master negotiator.

Example: You find a potential property selling for $200,000, and the houses around this property average for $170,000. You make an offer for $140,000(70% rule). If negotiations go well, you got the property for a great price and your flipping buyers will be fighting each other to get your deal. Heck, you can probably negotiate your commission with your flipping buyers as well!

Lol, I didn't mean to write an essay! What I'm trying to say is, welcome to the club Bryan! It's always great to see another person hungry for a better life. Would you like to go for a coffee sometime? :)