My Step By Step On How To Wholesale A House From Start To Finish With No BS And Without The High Priced Seminar.

Wayne Thursday, June 27th, 2013 1 Comment

I was on Bigger Pockets and I came across a blog post that I wanted to share here. It seems like everywhere you turn there are tons and tons of information about Real-Estate investing and wholesaling.  The problem is that a lot of the information out there is complete and BS as filled with misinformation and information gaps.  I wanted to make a true step by step post how to wholesale start to finish with no BS. So here it is, my blog post how to wholesale a house start to finish with no BS and without a high price seminar enjoy!!!

1. Find Potential Buyers
a. Find out what buyer is looking for
b. Number of bedrooms
c. Number of bathrooms
d. Number of sqft
e. Area of town
f. Price range

2. Find Property
a. Send direct mail
b. Drive for dollars – seemingly vacant homes
c. Bandit signs – We Buy Houses
d. Post on Craigslist
e. Find ARV (market value) through a Realtor or with comps
f. Determine repair amount

3. Negotiate Terms With Seller Over The Phone
a. Take ARV – Repairs – Your Profit and Market that to the buyer
b. Price
c. Time for sale
d. Earnest money
d. Lock box for access
e. Talk with seller to build some rapport. Find out what their pain is then lock in a price that is 60 or 70% of the ARV minus repairs.

5. Visit Property
a. Refine Estimate renovation costs
b. See what kind of spread can be made
c. Get Contract Signed

6. Market House
a. Blast to buyer list (offer to specific buyer for certain amount of time)
b. Craigslist
c. Hand written yard signs
d. Biggerpockets.com
e. REIA Meeting
f. Facebook
g. Talk to Realtors
h. Talk to Landlords

7. Sell to a Buyer
a. Assign the contract (or flex option agreement)
b. Send to title company
c. Require earnest money ($1,000 – $2,000)

8. Close
a. Get paid!
b. Send everyone cookies and thank you notes.

 

Be sure to check out www.webuycolumbia.com

Posted In : Wholesaling

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