What does it really take to be successful in wholesaling houses? Not just successful in flipping a single property, but doing it profitably repeatedly in enough volume to meet all of your financial and lifestyle goals, end even build a real estate wholesaling business that can deliver even more than that?
For those that want to succeed month after month and enjoy a long and profitable run wholesaling homes there are six core principles to focus on...
1. Finding the Deals
Nothing else really matter unless you can sign up deals. Depending on your goals prospecting for deals can range from direct mail campaigns to mining the MLS to driving neighborhoods and knoocking on doors to online wholesaling marketing, or all of these. The more leads that an investor sets up to come across their desks daily the higher the potential volume.
2. Buy Low - Sell Low
Real estate investors have to remember that the key wholesaling strategy is buying low and selling low. Never deviate from making your money when you buy. Also don't get too greedy and over price your deals. There may been occasions when properties will be flipped to retail customers for higher spreads. There is no reason not to make a lot of money in dollar terms on deals either, but there has to be enough left on the table to make them appealing to other investor buyers.
3. Build Trust
This involves the three Rs of wholesaling houses; Repeat business, Referrals and Reputation. By building trust, respect and value with buyers and within the real estate community wholesalers will build a sound reputation and enjoy plenty of repeat business and referrals which can be even more profitable than those gained from direct wholesaling marketing.
4. Always Offer Good Deals
Building on and bringing both of the above points together it's essential to always offer good deals. This isn't just about ฝากขายทาวน์เฮ้าส์ price. It's also about providing accurate and reliable information. This can require some due diligence, assessing repair costs and ensuring it is a marketetable property with marketable title. If there is one thing that buy and hold investors hate and that will destroy a wholesalers reputation fast it is gouging buyers.
5. Build a Buyers List
Building a buyers list can make wholesaling high volumes of homes fast a breeze. With a large and qualified list of end buyers and a good reputation for being reliable homes can be flipped almost instantaneously. Some advanced investors even go as far as taking pre-orders with at least some money put down up front.
6. Striving for Consistency & Growth
It's really hard to maintain the status quo in any business, especially the real estate industry. Always be striving for growth and stay consistent with wholesaling marketing and the small tasks that may not be that exciting, but that yield big results if they are given enough time.
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