First time wholesaling

[Janet Hansen]

How do I start wholesaling using OPM with no money coming out of my own pocket?

[Duncan Hayes]

Originally posted by @Janet Hansen:

How do I start wholesaling using OPM with no money coming out of my own pocket?

1. Build a list of cash buyers in the market you wish to wholesale in.

a. Find them.

b. Vet them to make sure they're real cash buyers by asking them the right questions. 

2. Once you have a few solid buyers on your list and you know their criteria; then you begin searching for distressed, off-market properties. You want properties that fit the criteria of these buyers.

3. Market to the properties via cold call, sms, direct mail, door knocking, Facebook ads, whatever your choice marketing is. 

4. Run your #'s and ask for help from someone that knows what they're doing so your #'s are good. No cash buyer wants their time wasted with "deals" that aren't really deals. 

5. Negotiate w seller. 

6. Contract deal.

7. Because you built your buyer list first, and know the criteria of the buyers that you'll sell deals to, you will be able to assign the deal within a couple hours. 

8. Buyer covers EMD and all other expenses associated with the deal, title, because you are no longer the person purchasing the property.

This is the simple version. Each step takes effort and some knowledge. But, I'm letting you know that I have never put a $ into any wholesale deal I've done and I've done them in 4 different states virtually. Feel free to reach out if you need any help.