Do you find the deal or create buyers list first?

[Joshua Lee Wegner]

Hi there, I just started researching the wholesaling end of real estate, and I'm absolutely obsessed. I have a few questions in mind and hoping someone could help!

What should be first priority, focusing on properties of distressed owners; i.e.: driving for dollars, reaching out on CL or a real estate site for FSOB ETC.? Or, reaching out to create a buyers list? It seems like my main concern is finding a deal and then not finding a buyer. Although I've heard a lot about if the algorithm matches (ARV x .7 - repairs - fee = MOA) then finding a buyer won't be a problem, that just doesn't seem so concrete.

Also, to continue on that point, what does happen if you can't find a buyer? And what's the time frame typically? Is the P and S contingencies in place to protect yourself from such an instance? Or do you go to an attorney and create those contingencies yourself?

I am a very determined, goal oriented person that is ready to make the leap into this space. I appreciate all the responses and value your time so thank you in advance!

Regards, Joshua Wegner

[Luke Espasandin]

Hey Joshua I'm not very experienced and not a mentor quite yet but from what I've learned is to get associated with your local REIA group via meetup.com/the app version of it. You will find few or a lot of buyers through those groups and also real estate agents can help you make a contract and you could get it approved through a real estate attorney. Also remember that you as the wholesaler, you are trying to find deals for a buyer/get them deals so they can pay you your fee for it and flip it and get their profit, so really focus on distressed properties and most of the time when it's a distressed property it could potentially be a distressed seller which would make them more motivated to sell. Hope this helps!