Wholesaling On BP

[Ethan Franks]

Hi everyone! I'm a wholesaler based in Wichita, KS and wanted to get a sense from others of the effectiveness of listing assignment deals on the BP listings page. Wondering what the success rate is for other wholesalers there? TIA!

[Caleb Brown]

Are there any local FB groups? From the wholesale perspective I have noticed that being the best way to build your list and sell deals

[Bob Stevens]

Quote from @Ethan Franks:Local 

Hi everyone! I'm a wholesaler based in Wichita, KS and wanted to get a sense from others of the effectiveness of listing assignment deals on the BP listings page. Wondering what the success rate is for other wholesalers there? TIA!

 local groups but why not, put it here only take a minute to post it, BUT PUT ALL INFO, 

[Ethan Franks]

@Caleb Brown and @Bob Stevens, there are a couple active FB groups that I'm a part of. Just wondering if anyone else has tried this for increased visibility, and potentially higher returns. Thank you both for the input!

[Bob Stevens]

Quote from @Ethan Franks:

@Caleb Brown and @Bob Stevens, there are a couple active FB groups that I'm a part of. Just wondering if anyone else has tried this for increased visibility, and potentially higher returns. Thank you both for the input!

if its a good deal it will be gone in a day. MAKE SURE you know your numbers,,,,,,, I have had people show me FANTASTIC deals, PP 150, rehab, 50k, sell 220, ummm, that's terrible what about CC, CC, realtor, overage on reno, know your numbers. The buyer will know the ARV, so no need to send comps, If the buyer needs comps they should not be doing the deal. I have guys send me comps, all kinds of photos., all a waste, Photos are useless, they show you want they want you to see. All I ever ask for is the ask and address, If they tell me just cosmetic, roof and HVAC, I know the numbers. I actually make an offer,( subject to walk through) just to see if we are in the ballpark, If so I then send one of my guys Entire process is usually under an hour. If we agree, I ask for a contract clsoe in a week or so. If I hear, oh, well I have other showings, I then say, good luck, I will not get into a bidding war, 99% of the time I get the deal.

Last piece of advice, those that tell you " we need two weeks DD period  hang up, they are rookies or just want to shop it and assign it .Any property, any street in my market, I will tell you un 10 seconds or less, The way it should be IF your real,

All the best to you

check back for any other tips :) 

[Bryant Brislin]

@Ethan Franks posting a deal on BP is a slow burn...sometimes buyers arise, but it's usually many weeks after you've posted it and they are hobbyist investors.  I'm not saying they aren't legitimate buyers, but the real robust shops don't look on BP (althought they probably should!).  I did sell at least one deal by posting on BP, but that buyer arose many weeks later.  We were able to re-open escrow and close.  Most wholesalers pull a cash buyer list from Propstream, or use InvestorLift to contact buyers.  Or they post on the various private FB groups that are associated with certain mentors/masterminds.  There are also investor FB groups in TX and I'm sure other states.  Of course, some of those people can be wastes of time, i.e. young men who say they are a buyer but just want to try to daisy-chain your deal.  Feel free to him me up if need tips on dispo.

[Kasey Blueford]

Hey Ethan, love to hearing you are wholesaling in the area. I too am looking to doing some investments in the area. I reside in TX but looking to expand my portfolio in the KS area. If you need assistance in EMD or any additional transactional lending, would love to support. Thanks

[William Li]

Hi Ethan, 

I am an investor in Wichita. I am buying properties that need some work and keep them as rentals. Lets get connect and do some deals! 

[William Li]

Quote from @Ethan Franks:

Hi everyone! I'm a wholesaler based in Wichita, KS and wanted to get a sense from others of the effectiveness of listing assignment deals on the BP listings page. Wondering what the success rate is for other wholesalers there? TIA!

Hello Ethan, 
How is your wholesale business going so far. I am an investor in Wichita. I would love to be on your buyer list if possible.