Should I let buyers know I am a new investor?

Question

Hello everyone.

I am about to take my first action step towards my REI future. I am about to start making my buyer's list for wholesaling. However, I am not sure how I should introduce myself. If I let potential buyers know that I am a new investor does that sound as though I am saying I am inexperienced?

I have been searching different blogs and forums and I have not found the answer to this question. I found a video on Youtube that talked about how to introduce one's self if they are just starting out. And it made feel like maybe I should not mention that I have not ever done a sale. I wanted to make sure it was okay to say this before I said it, so please let me know, I would greatly appreciate it.

This is what he said I should say. Hi, I'm Tamika Calhoun and I am a local investor. I come across great deals, deeply discounted, and I sell these properties to other investors. Would you be interested in me contacting you when I come across a deal that fits what you're looking for?

Sorry for the long post. But I am stuck and I am ready to come out of this analysis paralysis. And ready to just get started. Thanks in advance.

Mike F. · Answer

You should reveal it without being asked if you think it's to your advantage. You should reveal it if asked as it's the truth.

Personally I don't think it's going to be much of a secret.

Duke Marquiss · Answer

Volunteer up front and ask for their help. People like to help others.

Good luck

Mitch Coluzzi · Answer

An experienced investor can tell if you are new or seasoned right off the bat. Be frank about it; a green wholesaler eager to get in the trenches and find deals is better than a lazy seasoned wholesaler who right about now is complaining how hard it is to find deals...

To add value you need to do 5 things for me (they are simple, I promise):

• Be realistic throughout your calculations and appraisals.
• Analyze the basics of the property. How much work does it need?
• Determine the value that property holds as-is and GET IT UNDER CONTRACT
• Educate the seller on how the transaction will progress (IE: you will be reassigning the contract, estimated closing time, etc)
• Answer your phone after you make contact with me.

If you did all of those things correctly, I do not care if this is your first or hundredth deal we would have a great relationship.

Simon Castillo · Answer

Tamika,

Honesty is always the best policy. That said, I like your proposed intro. You don't need to mention that you are a new investor. However, if you are asked about experience, always be honest. Mention that you are looking to close your first deal and then ask lots of questions to learn what your prospective buyer looks for in his properties so you can provide quality leads to them.

Best thing is to get out there and start making contacts!

Duke Marquiss · Answer

yes

Tamika Calhoun · Answer

Thanks @Simon Castillo I was thinking I should let them know and maybe along the way I may meet a mentor or some.

Tamika Calhoun · Answer

Hi. Thanks for the advice. So I let them know that I would like to find deals for them, but I need their help because I am new to investing??

Should I let buyers know I am a new investor?

Should I let buyers know I am a new investor?

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