Minnesota Wholesalers put me on your List!
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I have spoken to several new real estate investors in the last couple weeks that have decided to get into wholesaling properties. This is a fast moving and exciting part of the real estate business. Unfortunately, it seems that most new wholesalers concentrate on finding the distressed properties to buy, first. Then when they find a good deal and put it under contract, they quickly realize that having investors or buyers for those properties is actually more important. My Advice-Build your list of customers and real estate investors and build it big.
Why build a big list of wholesale customers?
- If you are planning to make a living by wholesaling properties, you will need to do about 2-4 transactions per month. Most real estate investors may only be able to handle a new property (no matter how good a deal), every 2-3 months. Therefore, you need 12-18 different buyers that can take the properties off your hands.
- Depending upon what neighborhoods and price points you are working in, you may need different types of investors to wholesale your properties to. Some investors will only take properties that require very little work. Others are looking to rehab a property to provide instant equity.
- With the changing (almost daily) landscape of the mortgage industry, even strong investors are finding it more difficult or slower to execute purchases.
How to build a big list of wholesale customers:
- Real Estate agents like myself, that work with investors primarily, are great contacts to have. In this technology world, my customers have almost the same access to property information that I have. I am always very excited when I can find a non-MLS or pre-MLS property that my customer (and others) have not seen yet.
So, if you are working on wholesaling in Minnesota, send me an email occasionally with a property that you are trying to wholesale. I may have a customer that is looking for exactly what you have!
Do you watch those flipping shows on Cable? Have you always wanted to try a flip? Don’t Wait! Let me show you how you can get started today.
Scott Ficek is a Minnesota Real Estate Agent with Keller Williams Integrity in Minneapolis. He owns and manages almost 30 investment property units from single family to multi-family. Find his website at www.minnesotainvestmentrealestate.com or receive his blog via your RSS Feed or in your Email.
Hi,
I am a new wholesaler and would like to add you to my list. I am a nationwide wholesaler and I am looking for investors in each state. Please respond.
Thanks,
Verice Smith
Wholesaler