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Updated about 5 years ago on . Most recent reply

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Wholesale with occupied owner

Massiel Castillo
Posted

Hello All BPers! 

I've seen post on people saying they are new at wholesaling, I am newer than them! I understand the concept, but stuck on when wholesaling, if the owner is still in the distressed property can you still make an offer? Do you make the offer right over the phone if you're able to get in contact with them or do you ask to meet with them? I'm sure wholesaling is a newer concept and something not a lot of people are that familiar with (I can speak for myself) so how do I explain this to keep or gain their interest? This last part of the question is also for any cold call I'll make. 

Thank you all in advance!

Most Popular Reply

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1,216
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Barry Pekin
  • Specialist
  • Purcellville, VA
840
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1,216
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Barry Pekin
  • Specialist
  • Purcellville, VA
Replied

@Massiel Castillo,

There are hundreds of answers to your hundreds of questions. I recommend reading, listening to audio-books and podcasts, etc. A book someone recommended to me on here is, "If you can't wholesale after this, I've got nothing for you." I also strongly recommend attending local REI meetings as much as you can. Start networking there. Ask questions. Build contacts. And if you're serious about wholesaling, connect with as many buyers as you can. People get scared of this part, but it's really the easiest part.

As for the owner being in the property, that's absolutely not a problem.  Motivated sellers are few and far between, but if they want to sell their house, they know they're going to be moving out.  In fact, sometimes the need to move is part of their motivation.

You are not going to make deals.  You are going to find deals.  Be honest above all else.  And don't be deceived that this will be easy.  You have a lot to learn, and it takes a lot of hard work.

Good luck!

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