Not Destroying My Name as a Wholesaler!!

[Justin Escajeda]

Hello all, I really appreciate all the feedback I get on my questions I ask, and try to contribute to the community with my personal advice as much as possible, but here's another question.

I have been a buy and hold investor for years and am currently in beginning of my 3rd month of wholesaling. I have come across deals that after analyzing, I've determined they're good deal (comps, rehab cost, etc.). However, I get very minimal bites from investors. I do not want to be labeled as just another wholesaler that locks up lot of properties in contract and just mass advertises them.

If anyone has any tips on the characteristics of good deals, please let me know. I mean I use the arv*.7-repars-fee, and pretty well inept of finding rehab costs, but If there are any other tips I'd greatly appreciate it.

Thanks once again, everyone's insight is very valuable to me!

[J Scott]

Originally posted by Chris Piper:

Act as if you are the biggest wholesaler in your area. Act as if you've done 500 wholesale deals. Act as if your cash buyers are lucky to work with you. You don't have to be a jerk about it, but just be matter of fact and let them know that you are the best, and you will make their investing business super easy. Let them know that you are better than everyone else because you will get them the exact properties that they want, at the exact price that they want, in the exact area they want, all wrapped up with a bow on top. All they have to do is pull the trigger.

If your goal is to find serious cash buyers who have experience, doing it this way will only get your potential buyers to chuckle and rush you off the phone. I get these types of phone calls every day, and I don't even bother with them anymore -- I ask them to send me an email instead.

Serious buyers know the big wholesalers in the area...and they know an experienced wholesaler from a newbie in about 2 sentences.

I would recommend calling and saying, "I don't mean to bother you and I won't take more than 30 seconds of your time. I'm a new wholesaler and I just want to know if it's okay if I send you leads when I have them? [Buyer says 'okay'] Can you just tell me what areas you're interested in, what price range, and what basic characteristics of house you're looking for? [Buyer runs through their list of wholesaler critera] Awesome, thank you! Would you prefer me to email you leads or call you directly? [Buyer says email or call] Great, have a nice day and I look forward to working with you."

Don't take more than 30 seconds of their time, unless they initiate it. And don't follow-up unless/until you have a deal that matches their criteria. And when you do, only email or call, based on their stated preference.

Once you present one or two good deals, I promise they'll be happy to take you to lunch and talk in more detail about what they're looking for.