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Updated over 9 years ago, 08/10/2015
Do most wholesalers fail because they are just too scared to do business?
I have been looking for some off-market deals, and as such I have been contacting some wholesalers. There's a couple in Milwaukee that give me some pretty good leads (although not the winning deal yet) but the others I have tried:
1. Do not pick up their phone and I leave a message and I get no call back. This is what you consider good customer service? Now when I see this person's name on a listing, I don't even bother calling. Good luck selling a deal that way!
2. Doesn't list a phone number in the ad, only email. So I email and they email right back, which is good, until I ask to see the property. They ask if I'm a cash buyer, and I tell them yes, I'm a cash buyer, I know the property needs work, I've done other rehabs before. Then they basically just disappear. Good luck selling a deal that way!
So what gives? Does having an actual potential cash buyer scare some people so much that they don't want to pick up the phone or show a property???
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I have experienced that three times in Milwaukee ... here I figured it was happening to me because I'm from away?
A lot of them are new so you have to weed them out, and I think they look for a cash buyer first that's what the e-mail one sounds like. I would try to find one in person, you find out more about a person face to face then over the phone or the e-mail. I would ask if they have any experience or how long they been doing it. If you do find a new comer but is willing tell them what they need to find or look for, you never know they just might find a homerun.
We all started some where. Hope that helps
they just need to get over their fears and get the ball rolling..
I stay on the phone, too, long, probably. A new potential buyer called me the other night and we laughed and talked for about an hour, or more. That's happened a few times with me and potential buyers. We, usually, hit it off well. Now, I need to find a smokin' deal they would buy!
I've had a couple of long, enjoyable, conversations with sellers, too. I'm just starting out,so, I hope these long conversations lead to doing great business, too.
Low barrier to entry, I know what you mean. Whenever traveling I'll call bandit signs and few are ever the real deal.
If you don't mind my asking, what type of properties are you actively seeking? And what do YOU constitute as a good deal?
@Dawn Anastasi, it may well be that @Jay Johnson summed it up fairly well; it's not so much that "they are just too scared to do business", but more likely that most of them "need to find a smokin' deal (you) would buy"!
In the meantime, you should now be on their Buyers List, so don't be surprised if you get eager calls back from some of those newbies after many months - that is to say, from the never-give-up ones! Cheers...
Originally posted by @Darius Moody:
If you don't mind my asking, what type of properties are you actively seeking? And what do YOU constitute as a good deal?
I prefer certain zip codes, primarily single family homes 2-3 bedrooms. I like the ones that need work because I can add value to them.
I agree 100%!
Ok I'm definitely going to keep that in mind. I love to hear what wholesalers are doing wrong! that way I know exactly what not to do and what is in demand.
I lived in Milwaukee all my life so I'm very familiar with the territory, may I ask which zip codes you target?
Originally posted by @Darius Moody:
Ok I'm definitely going to keep that in mind. I love to hear what wholesalers are doing wrong! that way I know exactly what not to do and what is in demand.
I lived in Milwaukee all my life so I'm very familiar with the territory, may I ask which zip codes you target?
You can just check out my website and see the exact areas that I invest in. You should recognize the neighborhoods. My favorites are where I have my single family homes.
