Updated: Feb 26
What is Wholesaling? Here it is in 5 simplified steps.
1. Wholesaling is finding a distressed property (owner).
2. Assess the After Repair Value/market value (ARV).
3. Then, making the owner an offer, putting the property under contract.
4. Find a buyer for your contract.
5. The next step is to find an investor-friendly title company and close the deal!
You are a problem-solver so look for opportunities to help people! How do you find these jewel-of-a-deals? You can drive-for dollars, canvasing neighborhoods. You can do targeted ads and on-line marketing with direct mailers - all tried and true methods!
I like building relationships with other problem solvers to create win-win scenarios. For example, attorneys, mortgage bankers and lenders, etc. are all excellent sources of leads and professionals who can generate warm, lucrative leads for you.
Befriend a few landscapers! They are already canvasing your areas of interest and can tell you where the "empty house" is..
Doctors, attorneys of all disciplines, county and municipal employees, funeral homes....yes, funeral homes are all ecosystems of lead generation just waiting to happen! Deals and opportunities are everywhere if your goal is to solve a problem.
Success in this business depends on your resourcefulness and creativity. Look for an opportunity to solve a problem and the profits will come.
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