All Forum Posts by: Rickina Velte

Hi @Wesley Robinson

     One piece of advice I'd give you in this current market is strongly consider reverse wholesaling. That means instead of trying to find a property then a buyer, start with the buyer first. Build relationships with buyers and find out exactly what they are looking to buy, then tailor your marketing to find those types of assets. It is a far more efficient process, especially in this market. Email lists of buyers in your market isn't a buyer's list, you need to form real relationships with buyers and cultivate those relationships. Feel free to reach out if you need any advice and best of luck!

There are lots of options for finding buyers for deals. Here are some of my favorites:

1. Facebook groups for investors and wholesalers in your area. Look specifically for groups that allow deal posting because not all of them allow this

2. Facebook marketplace

3. Local REIA meetings and real estate meetup groups

4. Foreclosure auctions. This is one of my favorite strategies. Everyone bidding on properties at the auction should be on your buyers list. You already know they're buying and they have the cash to close.

5. Listings in the area. Any time I have a property under contract I get on Zillow and look at flipped properties that are for sale or recently sold. I call the seller because they were the investor who rehabbed the house or the agent who represented the seller to find out if they want to buy more property in that same area. Same goes for rental properties. The owners of active rental listings are landlords who may be interested in acquiring another rental property in the same area.

6. Propstream--great tool for finding hedgefund buyers and large investment groups.

7. Hard money lenders. Another one of my favorite ways to find buyers! Hard money lenders have a database of investors they've loaned money to for real estate investments. They can push your deal out to their entire list. Why would they do this? Hard money lenders dont make money unless they give loans. Pushing out your deal directly benefits the lender because they make money if an investor decides to buy it.

8. Mid size and large property management companies. Same reasons as a hard money lender. They have a database of clients who own rental properties. If someone wants to buy another one the property management will most likely be the one to manage it. You can always count on someone to do something that directly benefits them.

This is by no means a comprehensive list but it should be enough to get you started. Hope this helps!

Sure, I'd be happy to break it down for you! "Ratified a JV" means that a Joint Venture (JV) agreement has been officially approved and finalized by all parties involved. A Joint Venture is a business arrangement in which two or more parties agree to work together on a specific project or deal, and share the risks, costs, and profits involved.

In this case, I partnered with another wholesaler who was having trouble finding a buyer for her wholesale deal. Together, we formed a Joint Venture to pool our resources and expertise to get the deal done. As a result of our partnership, I was able to find a buyer who was willing to sign the contract and provide an Earnest Money Deposit (EMD) to secure the deal.

So, in summary, "ratified a JV" means that the Joint Venture agreement has been formally approved, and you and your partner were able to successfully collaborate and get the deal signed, and headed to closing. I hope this helps!

Quote from @Rickina Velte:

Hi Amberle, I'm in the 757 area and will be looking to connect with people in this industry. I'll be starting with wholesaling, and giving that a go first. So definitely will need reliable cash buyers, and a good title company familiar with the process. 
Thank you!

Hey Rickina, 
That's awesome! Yes, we wholesale as well and have a massive Cash Buyers list! We literally, just ratified a JV today 40k Profit 50/50 Split 20k each close in 2 Weeks! So let me know if you come across any deals - our Buyers are hungry!