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Updated about 9 years ago,
questions to ask owners about their properties for wholesaling??
hi.
i might be the fresh out of the sea beginner on BP, but i must say i'm amazed with the amount of info i've sunk in in the last couple of weeks. I also believe there's no faster learning process then give in it shot (let's reduce the legal cost :-)!!
i'm looking to start off wholesaling, i figured to build a network of RE attorneys for double closing, have contracts ready, contact investors to know their needs, which i've been doing the last couple days.
Now i'm ready to look for deal and tackle the convo with potential sellers:
1. should i completely avoid dealing with properties that already have an agent representing them?
2. i figure i can offer to work with a wholesaler if i come across thats already being marketed by a wholesaler?
3. Now the main issue: Owners. picking up the phone to call them, what do I need to ask them? should i negotiate on their advertised price?the reason for that question is as i will display my field of work i think i shouldn't negotiate unless i intend to buy, or i can ask there bottom price? do i always need to visit the property? if the property needs work, i have to evaluate the amount of work myself (inspection fees?) before taking it to investors?
4. to really push myself to work harder, instead of tying the owner to an assignment contract for 20+ days without any intent to purchase myself, i would like to lower it to 1-2weeks is that doable (visits, inspection, closing, ext)?
im in the New York metro area by the way..... don't mind my ignorance of the details of dealing with owners :-).