what to say to an end buyer Looking for exp. wholesale investors

Question

Good afternoon BP, I'm new to wholesaling, I have a couple of buyers but no leads on motivated sellers. I was wondering could anyone show/or explain to me how to look for motivated seller leads? Also when speaking with an end buyer how would I know what to say concerning my wholesale fee? Do I tell them I'm a wholesaler? What do I say in order to get my end buyer to agree on the price plus wholesale fee?

Bennett Steinle · Answer

@Alfonzo C Rushin III'm just starting out in the wholesaling business as well. I do not know everything, but I think the most important step is to probably just start doing SOMETHING. When you want to be successful you have to take action. A big reason a lot of people succeed in life where others don't is that they take action where others don't.As for finding the motivated sellers. You can make a website, do direct mail, create a facebook ad, cold call, drive for dollars, etc. Personally I've chosen to get started with direct mail and a very basic website, but mostly only to put on the letters I mail out so sellers have another avenue of communication. To get my direct mail list started I am pulling from two lists. I have the delinquent taxes list and I have an absentee owner's list. I got my tax list from my county for free, however I know a nearby county charges 500$ for the list, however so far I've found them to be free. The absentee owner list can be found from a number of different websites, just google absentee owner list.Once you have the two lists look for absentee owners that have a lot of equity, are living out of state, and are older. Cross reference that with your tax delinquency list. These highly qualified leads, at least for me, in the end you determine what you want to qualify as a lead. Mail/cold call these owners first, then make your way down the list to less qualified leads. This is only one method, there are countless others.Take all of this with a grain of salt because I've never done this before, but this is the route I'm taking. It will cost a bit of money, but I'm taking action. Good luck to you!

Alfonzo C Rushin II · Answer

@Mike Cumbie ok thank you! I think I’ll do mailing and cold calling. I believe I have to make sure that their number are not on ado not call list correct??

Mike Cumbie · Answer

Hi @Alfonzo C Rushin IIMotivated sellers are what everyone is looking for (At least in this market). It's also the secret sauce to your "Big Mac" or the original herbs and spices to your "Chicken leg". Some people have great luck with cold calling. Other people have great luck with offering a promotion to get in front of people. Some use mailers others use email blasts, bandit signs, buying lists from someone who claims to have thousands of motivated sellers. My suggestion is pick 2 ways, go at them hard and give them a year to produce consistently before you ditch it for a different method. Good Luck!

Alfonzo C Rushin II · Answer

@Bennett Steinle,Wow, thanks for that could get your number or email? I have more specified questions about mailing out letters and some other stuff you said. I want to get a complete understanding so ill know why I'm doing what I'm doing, as far mailing and cold calling ect.

Alfonzo C Rushin II · Answer

@Barry Pekin,Thank you for that Barry. Really appreciate you for the response.

Barry Pekin · Answer

@Alfonzo C Rushin II,Getting buyers is very easy. Let them know you have a contract and you want to sell it to them. The only thing you discuss is the final price they're going to pay. You negotiate that with them. If they're willing to buy at the price you're willing to sell, then the amount of your fee shouldn't matter. I know a bunch of cash buyers that say very clearly that if they're getting a good deal, they really hope I'm making a killing. If $100K works for them, then it works for them. If you're making $20 or $20K it doesn't matter to their bottom line. If they balk after seeing your fee, then it's not someone you want to work with.As for finding motivated sellers, that's an entirely different game. It's tough. You have to decide what works for you, both in how you market and to whom. There are probably hundreds if not thousands of posts in here on the topic. Not to mention books, podcasts, YouTube videos, etc. Start researching and figure out what works for you, your personality, your capabilities, and you finances.