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Hey guys Cody Sperber the Clever Investor back again and today I want to talk about something I get asked all the time. When wholesaling real estate, what should I focus on first, finding a deal or building my cash buyers list.
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I remember when I was brand new and everything was really overwhelming. There’s a lot of terminology to learn and I thought that when I actually got a deal I would have a hard time finding a buyer for it. This made me feel uneasy because I felt like I was going to get stuck in a bad deal.
What I didn’t realize was that I needed to put special terminology in the paperwork that would allow me to back out of the deal during the inspection period. So really there’s no reason you should be scared about getting stuck in a bad deal.
Something else you should take into consideration is the quality of your deals. If you have a good deal to serve up to someone on a silver platter there’s no reason that you shouldn’t be able to flip that paperwork quickly. Good deals usually sell themselves in under 24 hours so make sure your numbers look good and it will sell quickly.
That being said I would focus most of your time in the beginning trying to source your deals. There’s a ton of different ways to find cash buyers so don’t stress out over finding one. You can go to local REIA meeting and try to find investors who are looking for deals. You can even try craigslist or Facebook marketplace. Bottom line is that there’s no shortage of investors looking for properties.
I personally have a list of 30,000 cash buyers that are looking for deals. Oddly enough I usually only sell my deals to about 100 people of that 30,000. They’re not hard to find, trust me.
Another way you could mitigate risk is by co-wholesaling. What that means is you can just play matchmaker for cash buyers and wholesalers. Basically what you do is build out your cash buyer list and find the exact criteria for those buyers. Then what you can do is build relationships with all the wholesalers in the area so that they bring the deals to you and you just play matchmaker with the buyer.
If you do this you don’t even have to leave your house or negotiate with the sellers which is perfect for those just dipping their toes in the real estate waters.
The end result of this is do both at the same time. Never wait for a buyers list. Go out there and find your deals while searching for new cash buyers.
DROP a COMMENT about what you thought about this video & what you wanna see next..until next time..
– Take care, comb your hair..
Cody Sperber, Clever Investor OUT! 😎
#RealEstate #Wholesaling #CashBuyer
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ABOUT CODY:
Cody Sperber is a real estate investor, cryptocurrency investor, social media influencer, and entrepreneur from Arizona that has successfully flipped over 1000 houses and is currently one of the largest investment educators in the world. He’s been featured in Forbes, INC, Entrepreneur, Buzzfeed, and Huffington Post as well as on multiple episodes of Million Dollar Listing Los Angeles.
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