Wholesaling involves 3 people. You, a motivated seller, and a motivated buyer. Last time i went over how to get motivated sellers contacting you…
Now that we know how to get motivated sellers begging you to buy their house…we need to know how to sell these deals for a profit. (Be sure that you have a property under contract BEFORE you go shopping it around to your buyers or advertising it online or offline)
Here are a few great ways to get buyers for your deals (hint: in todays market it’s a great idea to speak with potential buyers first, find out their buying criteria and then go find them a house):
* Get a list of absentee owners from http://www.listsource.com or http://www.realquest.com or your local property valuation assessor. Mail them a yellow 4 x 6 post card using http://www.click2mail.com . Have it say something like, “I want to buy your house at “property address”. I noticed you didn’t live their, If you’re interested in selling for cash i can pay all your closing costs and close in 2 weeks. Call me at xxx-xxx-xxx.”
* Bandit Signs – You can use the same 18×24 corrugated plastic signs that you used to get sellers, to get buyers. Get them at http://www.signwarehouse.com . I like the yellow ones with black writing, but white with blue writing works good too. It should say “Cheap House Handyman Special$19k. and your phone number. ” or “Fixer Upper Must Sell! Cheap! and your phone number.” If they call and ask for more info on the house for $19k, tell them that one is already sold and get their information and buying criteria so that when you do have a property under contract you can let them know, or tell them about a property you do have for sale.
* Local REIA clubs: Find your local real estate investing club and network with the investors there. Have some business cards printed up at http://www.vistaprint.com and hand them out. Everyone in that room should know that you wholesale cheap, good deals to rehabbers and landlords. You can even get up in front of them and pitch any properties you have under contract. Print up some flyers to hand out detailing the property.
* Free Online Ads: Of course the interet is a great place to find buyers for your deals. Here’s a short list of places to advertise properties for sale or to place an ad looking for more buyers: http://www.craigslist.org , http://www.backpage.com , http://www.flippinghomes.com , http://www.rehablist.com , http://www.steveshotlist.com , http://www.facebook.com (you do have a facebook account don’t you? No?! STOP EVERYTHING AND MAKE ONE NOW!!!)
* For Rent Signs: Call the For Rent signs in your area. Ask the owner if they are looking to buy more property and get their buying criteria.
* Your Realtor: Ask your realtor if they have any investor clients that are looking for wholesale deals.
* Your own website/squeeze page. Bring in buyer leads by having a website or squeeze page that directs people to give you their information. get one at http://www.realfreedomwebsites.com or http://www.realeflow.com
These are just a few ways to get buyers screaming at you to sell them your deals. Remember, mark them up anywhere from $2k to $20k + depending on the deal, but ALWAYS leave room for the other investor to make money…that way you continue to build a solid relationship with your buyers and they will keep coming back to you for more deals.
Once you find a buyer for your deal, simply Assign the original contract with you and your seller over to they buyer. You can do this by using a….drum roll please…….”Assignment of Contract” contract.
When i closed my first wholesale deal i said, “This is so Easy! What have i been so scared of?” Get out there and make a difference and you’ll feel good about making the world a prettier place.
Take Action..Be Free.
The King of The City