Under contract before feeling out buyer interest?

[Greg Larson]

Hi BP,

situation: Ive recently built up a buyers list in my area but am still feeling the majority of them out for specific buying criteria.  Today, my friend just brought me a house that he wants to wholesale to a cash buyer asap.

Questions:

1. Do wholesalers have to have a property under contract in order to gauge their prospective buyers probability of interest in a deal?  (It doesn't seem like there is a huge spread here so I'm not eager to lock it up really, but I do want to help my friend)

2. If I have to put it under contract before even feeling out any potential buyer interest, do you have any advice for that?

3. Any general advice for this type of situation?

Thanks in advance for your help all

[Matthew Masoud]

I'm fairly new to wholesaling myself but from what I understand you must be the agent listing the property or have the property under contract in order to market it to sellers.

Pretty sure marketing property you don't own, are listing, or have under contract is one of the reasons wholesalers get a bad wrap.

Run your numbers and if it works actually place and offer and lock it up before you share it with your cash buyers. If you want them to take your offers seriously you actually need to have them.