The wholesaling today represents one of the best alternatives within the real estate to start a business , however, enter these practices without right or without a coherent strategy planning with today can easily make your job difficult.
There are techniques that according to your way of working can be perfectly adapted thus achieving to distribute your effort equally without losing too much time. For this, here we leave you some wholesaling techniques you can use :
- Digital marketing and search of prospects:This technique may go unnoticed but today, with the revolution of social networks and the Internet is essential to use digital marketing as the main ally. Through this you can reach prospects without having to move too much, thus increasing the amount of possibilities for your business and your potential clients.
- Close at the same time: This technique requires having a seller and at the same time having a buyer because the transaction made with the buyer will be responsible for paying the seller in the first instance. It is important to keep this clear because without the buyer who has a connection with you, you will not be able to pay for the purchase of the property.
- Assign a contract: Possibly the most used technique within the wholesaling due to its simplicity, its speed and the fluidity of the negotiations. This technique is simply assigning the contract to the buyer who sought you to find a property, leaving this transaction in the hands of this person, making you a simple intermediary between the two parties.
- Double closing: This has some resemblance to the closing at the same time but it has the only difference that you make the deal with the seller and then look for a buyer to be able to make a deal for that contract. Within this technique there are practices such as using lenders or bridging loans that will be responsible for financing the purchase and then be reimbursed with the sale to the prospective buyer.
The success of your business within the wholesaling will always depend in large part on your way of working, on the connections that you are able to create with possible partners and on the goals that you have established at the beginning, since this will be what you need motivate to do the best possible.
Important phrase :
” The experience is a hard teacher because it puts you first the test and then the lesson “.
Vernon Saunders Law .
American baseball player.