New Wholesaler in Des Moines

[Shannon McLeod]

Hello there BiggerPockets members!

I am a new wholesaler in the Des Moines, IA market and looking to network on here and contribute. I do have to say this place has an amazing amount of advice from very knowledgeable people and I'm extremely grateful for all that you guys have provided! I read that this forum and site can be just as valuable, if not more, than these expensive courses provided by "gurus." Looking forward to talking with you all!

My intention is to practice this craft with integrity and honesty.

Here are a few things that I am currently trying to establish:

1. Title companies in the Des Moines/Polk County area that are investor friendly and can work with assignment contracts/double closings
2. Networking with Realtors that are investor friendly.
3. Looking for purchase and sales agreements specific to my market and the common contingency clauses
4. Looking to connect with other successful wholesalers in my area. 

[Matt Fisher]

1. All of the title companies are familiar with all that stuff.  

2. Lots of realtors here are investor friendly.  They want to know you have the ability to close, a new wholesaler is probably not at the top of their list for handing off good pocket deals. 

3. Call an attorney and have them draft a really sound one, with modifications for your basic contingencies/scenarios.  How can you know if what some Joe on BP provides even covers Iowa law or worse yet puts you in position of liability.  

4. I can't help you there, I've yet to meet one. The trouble is that this market is saturated with investors and the demand is very high.  I'm not saying you won't find deals, but you'd be crazy to let them go.  DM is a tough row to hoe.  Good luck!

I don't want to sound like a jerk, but I've yet to see great wholesale deals coming from new wholesalers-they seldom know the numbers, the repairs needed or how it all works-makes it difficult to buy from them and they're soon forgotten.  I'm just offering some perspective.  If you can overcome or demonstrate that you really have solid deals, people will listen.  But in this market, the deal flow is so low, you may be better off keeping deals for yourself.

Matt