Many who have come here have heard of the technique of wholesaling which has gradually become one of the most popular forms of investment in real estate because of its methodology and the direct contact with the different types of situations that can be presented on the day of an agent or a real estate investor..
The wholesaling is not more than the search of properties that can turn out to be a deal at the time of buying to be able to receive payments for making it arrive to investors or buyers of houses. For this, here is a small guide for wholesaling successful :
- Keep your eyes open: The first thing is always to pay attention to all available means to find properties for sale with the sole purpose of finding opportunities that no one else seems to see. Having your eyes wide open and having contacts that can warn you of deals can be the key to finding the ideal business.
- Study thoroughly the possibilities: Finding properties may be the simplest thing to do, but the real work comes when you must thoroughly study each option you have to see the advantages and disadvantages that it has. Doing this lets you know how to sell this possibility to a future buyer and also helps you to really identify which is the public that could buy that house.
- Start negotiations: Possibly the most complicated step for the simple fact that you must start direct communication with the buyer to achieve the best terms and stay with the property without any problem. This is where you must be careful and know how to fulfill the motivations of the other party to the deal.
- Keep everything under control: Every paperwork or legal entity needed to carry out this work must be up to date and in writing with the sole purpose that you are the best option for those involved and there is no fear that things go wrong . Whether we are talking about lawyers, appraisers or title companies, everything must be in place for business success.
- Locate the best buyer for the deal: It is recommended that for the time you search for properties you already have a potential buyer in mind, but, if not, this is where you should advertise or make available to potential buyers the property that has found that in this way the wholesaling circle is closed
This way of working requires great concentration and a capacity for quick decision making because you have to explore a lot of options to find the best deals within the market that will be the ones that bring you profits when allocating contracts to investors who work with you.
Important phrase :
“Become the person that attracts the results you’re looking for”.
Jim Cathcart .
American businessman, speaker and author.