Wholesaling Questions and Strategies

[Jose Solis]

Hi everyone, I am looking to wholesale a deal or two in the next 6-12 months. I am not completely new to real estate as I am a buy and hold investor, but have never wholesaled a deal before. I understand the fundamentals of real estate, rehabs, arv etc from an investor standpoint. I know the outlines of wholesaling, obtaining leads, talking to motivated sellers, comping, and finding a buyer. I found my other investments through off market, but what would be the next step? Just start calling or any recommendations? Like I mentioned I am looking to wholesale a deal or two in the next 6-12 months and recycle that money into long term investments and would love to hear any input/feedback. Any tips would help! 

[Jim Pellerin]

Here's how I would tell anyone to start wholesaling

1. Create a list of buyers. This will help you focus the property search and take the pressure off once you find a deal.

2. Define the criteria. What do most of your buyers want (referred to as buy box).

3. Obtain list. Based on this criteria acquire a list of sellers. You can use listsource, batch leads, propstream. You can look on FB Marketplace (we get a deal a month here). craigslist. Etc.

4. Tools. If you want to make a lot of calls I recommend a tool like MojoCaller. You also want a good CRM. Hubspot is free. Freshsales is cheap.

5. Scripts. Make sure you know what you are going say to the sellers.

6. Make offers. Make lots of offers,  even if they are just verbal. Shoot for 1 a day.

7. Follow up. The fortune is in the followup. Keep doing it until they say no.

8. Put a property under contract and assign it.

9. Repeat.