Wholesaling
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
Wholesale Contract/Offer Next steps - HELP!
Okay, let me start by saying I'm fairly new, I've only placed 1 offer so far and it turned out not to be too great of a decision.
But there is something I don't entirely understand about wholesaling that I feel gets overlooked in a lot of conversation. Which is exactly HOW to market the deal you're trying to get someone to buy.
Let me Explain:
As I understand it, it is not best practice to find what you think to be a good deal, get it under contract, and THEN commence to shop it around. Due to the fact that you have locked up a property without the certainty that someone will purchase the contract, thus wasting everyone's time should no one actually bite on it(makes sense).
I also understand that it doesn't make sense to shop deals around with your buyers that you don't actually have under contract yet, because.....well it's not even under contract so you're offering an asset that technically doesn't even exist at the time of your offering. Baaaad business practice 101 in my opinion.
BUT, here's the kicker. If you're unlicensed, it's my understanding that if you do have something under contract you can't market the deal with pictures because you're then brokering a property illegally...so it begs me to ask the questions..
1. What is the proper "most effective" way to market a deal...? I want to remain as ethical and efficient as possible. But if I shouldn't secure a contract and THEN shop it around, while simultaneously not shopping deals before they're under contract and gauging interest, how is it possible to ever market/get a deal?
2. If I can't market with pictures, okay I can get ways around that with just text and projected ARVs etc. But how can I expect someone to be even remotely interested in buying a home that they can't see? Assuming this is the first time this person is doing business with me, so they have absolutely 0 reasons to just "take me on my word" about what's being offered.
Any and ALL advice is truly appreciated!