How To Marketing Houses Wholesale

As I endure to create blog posts from my Real Estate Journal I come across ideals that I feel are good blog post. I am a firm believer that you can only develop into a successful real estate investor if you act on the information that you learn.

 

To Review;

How To Market Houses Wholesale

  • When you come across a good deal, tie it up (aka put it under contract)
  • Run a Title search (done via the title company)
  • Run an ad in your local newspaper: Handyman Special
  • Build a buyers list of cash buyers.
  • Get contract and earnest money from buyer.

Provide both contracts to your Title Company or closing attorney and then set a date for closing. Make sure the Attorney knows and understands wholesaling. This is so they can understand what is going to take place.

 

To Recap:

When filling out a contract you need to make sure it has “Or Assigns” listed and a “7 day inspection period or escape clause.

These two things should be in your contract as they are for your protection.

 

10 Most Common Noobie Mistakes:

  1. Buying in wrong parts of town.
  2. Paying too greatly for things.
  3. Working with the wrong people.
  4. Focusing too much on repair costs.
  5. Letting fear stop you from making offers.
  6. Not pre-qualifying buyers.
  7. Not sending enough offers.
  8. No follow up method.
  9. Not constructing a buyers list.
  10. Not learning other niches of the RE game.

Five Things To Master In Wholesaling:

  1. Pre-screening prospects.
  2. Determining the market value.
  3. Estimating repairs.
  4. Making offers and counter offers.
  5. Selling houses.

Once you have learned these items, you can then teach others to do them for you. Your primary goal everyday should be on making offers and making money. All the other things can be outsourced. Hire other people to do the things you don’t want to do.