When you have a working contract, the next step is finding the right buyers. This may come as a bit of a challenge for a new real estate investor, as the market is hot right now and everyone wants to buy something. However, just because people want to buy doesn’t mean you should just wholesale the contract to the first interested prospect.
Today, Don and Ryan describe the steps new investors need to take when it comes to wholesaling a real estate contract. They discuss the importance of getting to know the new faces in the market, how your established connections can help you find a good buyer, and why there are cash buyers who aren’t really what they seem. They also share their personal experiences when wholesaling contracts as well as provide tips on how to avoid being sued.
“Be good and be righteous to people and you’re never going to have problems.” Ryan Scialabba
This Week on FlipTalk’s Rookie PlayBook:
- The importance of asking about new lenders or buyers in the market.
- Tips on building a buyer’s list on a budget.
- How do you approach cash buyers with the property?
- Their personal experience regarding cash buyer relationships.
- The relationships you shouldn’t involve yourself in.
- What to do during a lawsuit.
- How to prevent buyers from pushing you around.
- Don’t stop marketing the contract.
- Local hard money lenders should always be your priority.
- Learn to vet the cash buyers you encounter.
- You should have relationships in the different places you’re marketing to.
Rate, Review, Learn and Share
Thanks for tuning into the FlipTalk podcast! If you enjoyed this episode and want to learn even more about what it takes to build a 7-figure real estate business, head over to iTunes and subscribe to the show. Don’t forget to tune into our other shows: FlipTalk’s Rookie Play Book and FlipTalk’s REI Round Table. Share your favorite episodes on social media to help other new investors learn what it takes to grow a successful business in the real estate investing industry.