How do you market another wholesalers deal?

[Kim Miller]

Hello to All,

I'm brand new here and brand new to the wholesaling business. I want to begin by wholesaling other wholesalers deals just to get my feet wet and to make a little money to invest in bigger deals.

Like I said, I'm new and don't know a lot about this business just yet. So if I ask any dumb questions, please try to understand. I have come across other wholesaler deals (on Craigslist, etc.) that really look like good deals to me. I've called several and asked them if they work with other wholesalers to sell their deals. A few of them said yes.

But I noticed that they all are advertising these same deals on the same online classified sites that I would be advertising them on (Craigslist, Postlets, Vflier, etc.). At this time, I don't have a buyers list of my own.

So what other ways could I market their deals with little to no out of pocket money? Offline?

Another question I have is do I sign some kind of contract with them upfront to ensure that I will get paid if I bring the buyer who actually buys their property?

I'm sorry for the long post, but I'm a little confused about how to get this going and would really appreciate some feed back on this.

Thanks a bunch!

[Jon Holdman]

Wholesaling is, for all practical purposes, the same job as being a real estate agent. Different channels of selling, since you don't get to list on the MLS. And trickiness around the contracts to avoid the legal complications around unlicensed brokering. But effectively you're an agent.

The advantage for sellers of working with a wholesaler vs. an agent is the wholesaler has a list of ready and willing buyers. The advantage (supposedly) for buyers is you find great deals. I say supposedly because I agree with the argument most wholesale deals aren't really deals. I've been sent some that are straight off the MLS, marked up by the amount the wholesaler wants. Even the non-MLS ones are rarely good deals. They're OK at best.

But you don't have a buyer's list and you don't have any deals. You really aren't offering any value. You just trying to get into the middle of a deal and extract a slice for yourself. Hence Jeffrey's suggesting of just getting a license. Even then, you will need to market yourself and offer something to buyers or sellers.

There are numerous ways to make money with real estate. All require work. Most require some investment of cash. Figure out where you want to invest your time and money and then WORK to make this happen. Just finding someone else' deal on craigslist and then reposting it at a higher price is not a path to making any money.