First Wholesale Deal

[Account Closed]

Hello everyone, 

Starting my first wholesaling deal soon. Well technically in the process of it. If there’s anyone who can give some tips and some what to do’s and what not to do’s would be great! 

[Jerryll Noorden]

Here are some to do's. (the "not to do" is pretty much the poopsite of the "to do".

1. Be honest, Be transparent.

Tell the seller your wholesale intentions and explain the advantages and the disadvantages to wholesaling.

2. Obviously, know your numbers.

Make sure there is profits left for the end buyer. Not all "houses" are alike.. duh right? Wait! Here is what I mean.

A house near a college is good for a long term rental. A house that is higher end, could be a good flip, and a house near Disney World, would be an awesome AirBnB. My point is this. Know what kind of end buyer each hosue will be attracticing, and know their exit strategy. As a wholesaler you need to pretend you are a flipper, long term and short term investor. You need to know the ins and outs of everything. The more insight you have on this, the better you can offload the proeprty for as high as profit (free) as possible.

3. Don't focus on just one deal at a time. Focus on throughput.

Most wholesalers focus, and put their all into the current deal... but neglect what  this deal is doing for them in the longrun. Example, cold calling? D4$, to get your deal? Sure you may get one deal out of it... but realize this., For every deal you made, you pissed off 10,000 people with your ignorant and annoying cold calling and text blasting. Is ONE deal really worth ruining your business credibility? No. It is your business cred that will get you more deals.

4. Focus on lead generation for MOTIVATED sellers.

I can write a book on this so jsut do a search here on BP and you'll find a lot of my aggressive rants about this. The point though, forget the gurus, forget the Youtube influencers (I am sorry BP..) forget BP podcasts. All a load of fluff. Experiment, and use your own logic to determine your best path for lead gen.

There is more, but i need to poop, am hungry, and I smell like a scoundrel that just did 7 hours of yard work for our $10K/month AirBnB! I need to do something about this current condition. Imagine the MC hammer song.. but then .. Showertime!