Attracting wholesale home owners can be a major key source of real estate investing leads and
There are other methods such as chasing after realtors, MLS listings, real estate attorneys and other professionals.
But the idea with wholesale real estate is to control an inventory of real estate with no money out of pocket. (FREE CONTRACTS)
So in this lesson, I will cover 3 UNDENIABLE ways to fail in wholesale home investing; obviously, you would want to avoid them.
(1) Disregarding Inbound Marketing with make Wholesale Home Investing Difficult
When a call comes in from a potential seller requesting for more information on selling their property, it’s easier.
It’s okay to make outbound outreach and marketing methods if that’s your thing…
But you have to sell them within a few seconds on the fact that they need you and here is how to fail with respect to this.
Put yourself in a begging and pleading position and watch the interaction get worse and worse.
(2) Focus on Personal Problems
In all your interaction, your primary job is to identify problems that you can solve and it’s that easy.
But here is how to fail with wholesale home investing; focus on solving your personal financial problems.
(3) Lack of Pipeline
Wholesale home investing involves many layers of negotiations; both consciously and subconsciously.
So it is very important to position yourself in the best place to win most or all of the negotiations.
The best position for negotiation is to be willing to walk away and mean it.
If all you have at an moment in time is ONE LEAD, you will naturally lose most of your negotiations.
Hence, it’s one of the ways to fail in wholesale home investing.
Therefore you are better off with building and monetizing a pipeline of lead coming in daily; it represents options for you.
Below are 2 questions that inspired this lesson on Wholesale Home Investing…
“When all methods have been exhausted ( skiptrace etc..) trying to find the owner of a property, what do you do?”
“I am trying to close a deal on a home and the seller has a realtor.
They want proof of funds to make the offer because they’ve had people make offers and not be serious.
How do I handle this?
They are requesting I fill out a buyers agreement and sales contract.
I have a buyer ready to buy the place but how do I go about doing proof of funds with the buyer without being cut out of the deal?”
Another article on Real Estate Wholesalers Near Me…
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Padilla 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Awesome book!!
Cliff R. 4.0 out of 5 stars ⭐⭐⭐⭐ Full of actionable, useful information for sure.
The author does an excellent job of cutting through much of the real estate wholesaling BS that is prevalent in the market. That is to say while most gurus are teaching what they DO NOT DO, Ola outlines steps of creating value at the center of your marketing. His down to earth delivery just makes sense. He speaks of leveraging technology, the importance of multiple income streams, and an overview of the real estate wholesaling business in the new age of business marketing. For example, he mentions that many people don't even like their family members stopping by unannounced, so how can you expect them to be ultra receptive to a stranger popping up looking to capitalize on a misfortune. Of course that's not how the "Door Knocking" conversation would be framed, but that's exactly what it is. All in all I enjoyed the read and if you plan on making action your focus, you will too.
Brian Ellwood 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Solid Advice From Someone Who's Been There
Ola is a legit real estate investor and marketer. He's a real student of wholesaling and marketing - his approach to marketing for wholesale deals - ADD VALUE - is recession proof and feels right. Don't pass up this book!
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As a virtual real estate wholesaler and investor, it makes sense to me to optimize my approach and use technology to drive. This book gave me a clear, concise framework that I could leverage and implement!
stacy 5.0 out of 5 stars ⭐⭐⭐⭐⭐ Amazing
This book is amazing and very beneficial. The author is very knowledgeable on the concepts at hand. Definitely a great book to read.
How do I start a wholesaling House?
Subscribe to services that offer list of potential distressed home owners such as pre-foreclosures, vacant properties, out-of-state owners etc, download the list of properties and contact the owners offering to purchase their properties.
How much money do you need to start wholesaling real estate?
Using the smart wholesaling formula, all you need is $300 but it can take a lot less if you don’t value time and have time to invest in manual marketing methods.
Can you make money wholesaling real estate?
Yes you can make money.
Successful wholesalers can make up to $1.5 million per year strictly from running an wholesale but scaled marketing operation.
What is house wholesaling?
A wholesale on a house is investment strategy that involves locking it under contract at a deep discount and then assigning the equitable rights of the contract to a willing and able buyer in exchange for an assignment fee.