Wholesale real estate

[Luis Paulino]

Hey I’m new at wholesaling I bought a list of 1000 free and clear and absentee owners. I’ve sent my mail campaign and about to start cold calling this week. My question is when I get a property under contract before I make a offer I want to see the condition of the property of course. I was wondering would it be a good idea to bring a friend that works with construction that can help figure out the repairs? Since I have no construction experience at all and I see a lot of buyers HATE when wholesalers get that part wrong. Let me know what you have done and your story on your first evaluation

[Jonathan Loynaz]

Hi @Luis Paulino, sure it would be nice for you to go see the properties for a few months to get the jist of repairs but in order to scale, you'll want to eventually not have to visit every property you get under contract. I've been wholesaling for 3+ years and I myself still have zero construction experience and nobody on my team has construction experience either so don't think of it as a crutch.

We ask the sellers over the phone how much repairs the house needs, lock it up and when we have buyers visit the property, they will let us know whether that repair estimate was accurate or not. If not, we simply let the seller know that they weren't 100% truthful to the repairs needed and more times then not, we'll get a price reduction.

In regards to list, definitely a free and clear/absentee owner list won't produce much of a result. Especially only 1000 of them. Consider finding tax delinquents, code violations, or driving for dollars in your area. 

I would also say to stop the mailing campaign, double down on cold calling and RVM. Be consistent, always follow up, and study some sales training material.