All Forum Posts by: Ben Wuollet

As a wholesaler in Phoenix we have combated this by offering "real" deals to our buyers. This problem was/is most evident in the auction space. This used to be a good resource for finding deals, but now the "investors" are almost bidding at retail value for fixers... The secret is to put yourself in a position to finding other avenues to finding properties at wholesale prices, so in turn, you can offer them to investors at true wholesale prices. We do have a sophisticated group of investors though, and when we have a property that is not a "good" deal, we end up sitting on it. So it is imperitive that we offer our properties at the wholesale level, or else we lose in the end!

I watched an interesting live seminar today and the message was simply put; are you marketing in 2014? 2010? 2004? 1999? When you really think about this what year would you say you or your company is in?

We are seeing a major uptick in multifamily and commercial markets! We have been dealing mostly with houses, but are quickly moving into multifamily also.

We have found that simply hitting the streets and networking has led to purchasing multifamily properties. Many deals are found by simply putting in the hard work of meeting people, networking, and putting on your walking shoes:)

On another note, anyone here involved in Arizona Multifamily or commercial investing?

It all depends on your business model. Do you want to focus on purchasing properties or finding deals direct from sellers. It is a full time job to do each. Wholesalers invest their time into finding direct to seller deals, and there is a reason they then flip them to investors. We tried to keep all of our properties in the beginning and fix them up, rent them out, etc.. but the work load involved was way to much, and much easier just to seek investors to buy our properties. If we were to buy and hold, we would need major restructuring to our business model and take on additional employees to handle that end of the business. Many properties we sell we wish we could just hang on to them, but it does not fit our business model! Hope this helps:)

Welcome! Good luck in you new venture!

How can those just starting out benefit the most?

It would be nice to get some insight on the best way to use BP. How critical is popularity such as votes, mentions, and connections? Does more engagement mean better search rankings?

It has benefited me greatly in the sense that I've made some great connections that have helped in my business.

Thoughts?

One of the safest ways is to start out being a deal partner for a reputable wholesaler. This way you can locate properties, learn the process, and work together with them until you are comfortable doing it on your own. Many wholesalers realize you may be a competitor to them once you get it down, but in the meantime everyone wins, and who knows you may just build strong enough relationships where you never need to do it alone... It is a tough business if you are involved in every step of the process by yourself!

I would recommend doing this if you have a trusted network or source in that area. Maybe someone who can scope out the property quick for you...