End Buyers

[James Burrell]

Hello everybody I just have a couple questions that I hope you can help me with. I'm new to the idea of wholesaling and I haven't even attempted my first deal yet because I am still gathering information and trying to talk to people with experience before I go for it. I was just confused about a couple details of the process. First, let's say you get a property under contract for $30K and you have a buyer who is willing to pay $40K for it, why would the buyer pay you $40K when they know you got it for $30K? Also, does the end buyer always know how much you were able to get the property under contract for?

[Ryan Webber]

James Burrell, yes, ABSOLUTELY it happens, but you've actually already stumbled onto the solution.

Its a problem IF you only have ONE investor interested. So the trick is to make sure you have multiple investors interested.

So how do you get multiple investors interested?

PRICE.

Price overcomes all objections.

If I was trying to sell that $2,000 gold bar for $1,500 or maybe $1,900, would I have the same interest? NO!!! The price is what creates the increased demand.

Now there is also a factor of effectively marketing the property to solid cash buyers.

If I only knew one person with $500 to buy my gold bar, she could easily haggle me down to $350 because I only have one interested buyer. Now If I know 10 people with $10,000, I bet I could get the full $500 with no problems.

Find better deals and find more cash buyers. That's wholesaling in a nutshell.