How To Become A Wholesalers Top Buyer

Wholesalers are a house flipper’s best friend. They are your key ally when it comes to generating leads and finding a great deal on an investment property. That’s because they snatch up houses that would make great flips and sell them to real estate investors like you. While you specialize in flipping and selling a house, their game is to find and turn around good investments. They are motivated to find a quick buyer, and notify flippers and investors in their network when they have a property to sell.

So how do you become one of these lead-generator’s top buyers? The Tarek & Christina Seminars by Real Estate Elevated reveal two steps for making the most of your relationship with wholesalers.

1. Tell Wholesalers What You’re Looking For

The most unhelpful thing you can say to a wholesaler is, “I’ll buy anything! Send any lead my way.” They hear that all the time. Many flippers assume that a request like this will benefit them by casting a wide net and letting wholesalers know you are interested in a variety of different properties.

But what this statement actually does is ensure you are forgotten. You want a wholesaler to look at an investment opportunity and think, “I know exactly who would be interested in this!” If you are vague about what you are looking for, the wholesaler won’t always think to take a property to you. Besides, the truth is that you don’t want just any property—some may need repairs too extensive for your budget, or may be in a style or neighborhood you simply aren’t interested in. If a wholesaler brings you a property you don’t like, chances are they won’t be back with another.

Instead, tell wholesalers exactly what you are looking for. Size, location, condition, and pricepoint preferences are all helpful details. That way, when the wholesaler finds something that meets your criteria, they will call you first.

2. Stay in Touch

Check in regularly with the wholesalers in your network. This includes both the ones you have bought properties from already and those you just exchanged contact information with at a networking event. The goal isn’t to be pushy or overly annoying, but to stay on their network. Give them a call every few months or so to touch base, remind them what you’re looking for, and ask if they’ve seen anything lately that fits your criteria.

If the wholesaler doesn’t have anything for you, ask what other properties they have. They may or may not have one you might be interested in considering after all. Even if they don’t have any leads, your phone call will reinforce your contact and relationship and remind them that you are still looking for houses to flip. Stay in touch with more than one wholesaler—they are your best bet for finding investment properties fast.

When you stay in touch with a wholesaler and are clear about what you are looking for, you’re more likely to find a great property. And the more you buy from a wholesaler, the more likely the wholesaler is to come back with another lead. Real Estate Elevated knows that it pays to cultivate these relationships. Get even more advice about real estate flipping from Tarek and Christina’s Seminars.

Wondering How to Flip a House with No Money Down? Get Answers From Real Estate Elevated

Many people wonder how Tarek and I were able to find the money to flip our very first house. They assume we were saving funds for a long time or had a unique way to go about it, but that is not true. Keep reading if you’re wondering how we were able to flip a house with no money down!

Before we get too into the details, know that you’re going to have to pay for a house upfront—and in cash. But you don’t have to use your own money to make it happen. In fact, we highly recommend not using your own money, but rather looking for funding with the right investors.

Private Lenders vs. Hard Money Lenders

There are many types of investors out there who can fund house flips. A private lender is a great source for flipping a house without putting any money down. A hard money lender is another option, but they may have less desirable terms since they can charge high interest payments as well as other fees.

Private lenders might include a friend or an acquaintance with liquid capital. They might be looking to invest their money, and you can help them make money by putting it toward a house flip. These people probably won’t announce their search for an investment or come to you. Instead, you’ll need to seek them out by asking around and utilizing your network.

A private lender might be a doctor, lawyer, business person, or even a co-worker. If you think someone you know might be looking for an investment opportunity, feel it out by easing it into the conversation and then discussing their current and future investments. Eventually, make your move by pitching an investment idea that can quickly and easily pay off.

Private Lender vs. Partner

Once you’ve secured funding, you may consider bringing your private lender on as a partner. If the lender goes into a partnership with you, they will get more of the profit from the house. But they’ll also be more likely to continue the relationship and offer funds for future house flips. You’ll do the work while they provide the cash.

The partnership route certainly isn’t cut out for everyone, but it’s a great option for those who work well with their private lender and want to have access to their funds long term. This is the best way to flip a house with no money down and zero interest, especially if it takes more time to sell the house than planned.

Learn More From Real Estate Elevated

If you’re interested in learning more tips of the house-flipping trade, check out Tarek & Christina Seminars. Real Estate Elevated is our premier seminar and teaches real estate investors of all levels how to easily maximize profits from house flipping. Register for one of our seminars today!