Pitching a Wholesale Deal to an Investor

[Joe Walsh]

Hello everyone! I've been browsing BP for months now and reading up on a lot of aspects of RE investing and I just want to say this website is full of great info and people that really enjoy helping and I thank you for that!

Anyways I'm 19yo and looking to get started in RE wholesaling in the next month or so. I have sort of a loaded question, I was wondering what is the best or most successful way to pitch a wholesale deal to an end buyer would be, as well as an overview of the process because I cant find much on it! Is it best over the phone, in person, or a combination of the both? What is the best way to get them excited over the investment, aside from the obvious (money :p).

Any input or general tips would be helpful! I had a little trouble wording my question so I hope it makes sense. Thank you for reading and any help!

Joe

[Dell Schlabach]

We buy and rehab quite a few houses, you dont need to worry about a pitch for me ...

The easier you make it for me the quicker I buy.

If I have the following, you can email it to me, put it on face book or your website, tell me where to look it up.

I dont want to meet until I see it has potential. (now I will meet with you to get to know you and even show you what we do so you have an idea of what I want)

But when you have a deal, I want to do the basic numbers first before I run out and look at your deals.

If I see the pics and run the comps I can crunch the numbers and let you know if I want to look at the house in 3-5 minutes. If its a screaming one in an area I am familiar with, i dont need to see the pics and can let you know in a minute or two.

I can make those decisions with an email or access to the following information.

The address of the house

Pictures of the following
Kitchen
Bathroom(s) (tub, vanity and floor)
Roof (reasonably closeup)
Front View
Rear View
Furnace
AC
Hot water tank
Window, typical of the majority in the house
Garage door
Fireplace
Driveway/Sidewalk
Garage if free standing
Main electric panel
Anything wierd, or destroyed that is not on this list

Some rehabbers may want comps, I run my own.

The price you want for the house

This is the list similar to the one used to prescreen deals for me now.

From this information I can reasonably accurately run my rehab and profit potential numbers in under five minutes and let you know if I want to come look at the house.

In under 15 minute I can do a walk through to make sure I didnt miss anything. I am ready to do a cash offer/deal and can close whenever you are ready.

So no need to pitch me, just give me reliable information and I will pitch myself.

I think this holds true for most full time rehabbers, landlords may have a very different criteria.

You asked a good question, and if you find out what people want and deliver it to them, you will be successful.

We used to sell people houses for years, once I decided to figure out what qualified first time home buyers were looking for and started delivering that, the houses "sold" themselves fast.

Hope this helps and good luck in your venture.