If someone drops you in a new town and tells you to find a good real estate deal in less than 3 hours, here is what you should do.
The gurus will tell you to do a lot of marketing and make a lot of offers on houses. But you want to find a deal fast, so the first thing I would do is find the local wholesaler.
Not just any wholesaler, because there will probably be several if you are trying to invest in a large market. What I would look for is the Big dog wholesaler. The one who is selling more properties than anyone else. Look for the wholesalers who are purchasing and selling 5 to 10 properties per month. They will be true wholesalers.
A true real estate wholesaler marks up a deal a few thousand dollars and moves on to the next deal, unlike many courses and real estate gurus who talk of making 10, 20 or even 50k on a deal. True wholesalers don't do that, flippers do.
Flippers make home runs. They find a property and mark it up a lot and make a killing one deal. These will be the guys that do only one or two deals a month.
The true wholesalers will not make much money on each deal, that is why investors will be buying from them over and over again because they know they are getting the best deals.
I am one of the big dog wholesalers in my area and, after thinking about how I do business, I realized that before I became a wholesaler I spent a bunch of time and money learning how to find deals. It does pay off if you want to be a wholesaler. But if you are just trying to flip a deal or build a rental portfolio it really does not make sense. In my opinion, devoting a lot of time and money to find real estate deals in this case would be a waste of time. You simply will not be able to find better deals than me.
If you want to find great deals super fast then use the local wholesaler. It is like having a buyer on your staff that is doing all the legwork for you. The time and money that is saved by using their expertise is more than worth the mark up you will pay.
Where do you go when you want to buy something nowadays? Wal-Mart, Target, all of these stores are actually large wholesalers. They buy in bulk and then pass the savings on to the consumer. That is what the local wholesaler does in your real estate investing.
The gurus will tell you to do a lot of marketing and make a lot of offers on houses. But you want to find a deal fast, so the first thing I would do is find the local wholesaler.
Not just any wholesaler, because there will probably be several if you are trying to invest in a large market. What I would look for is the Big dog wholesaler. The one who is selling more properties than anyone else. Look for the wholesalers who are purchasing and selling 5 to 10 properties per month. They will be true wholesalers.
A true real estate wholesaler marks up a deal a few thousand dollars and moves on to the next deal, unlike many courses and real estate gurus who talk of making 10, 20 or even 50k on a deal. True wholesalers don't do that, flippers do.
Flippers make home runs. They find a property and mark it up a lot and make a killing one deal. These will be the guys that do only one or two deals a month.
The true wholesalers will not make much money on each deal, that is why investors will be buying from them over and over again because they know they are getting the best deals.
I am one of the big dog wholesalers in my area and, after thinking about how I do business, I realized that before I became a wholesaler I spent a bunch of time and money learning how to find deals. It does pay off if you want to be a wholesaler. But if you are just trying to flip a deal or build a rental portfolio it really does not make sense. In my opinion, devoting a lot of time and money to find real estate deals in this case would be a waste of time. You simply will not be able to find better deals than me.
If you want to find great deals super fast then use the local wholesaler. It is like having a buyer on your staff that is doing all the legwork for you. The time and money that is saved by using their expertise is more than worth the mark up you will pay.
Where do you go when you want to buy something nowadays? Wal-Mart, Target, all of these stores are actually large wholesalers. They buy in bulk and then pass the savings on to the consumer. That is what the local wholesaler does in your real estate investing.
About the Author:
The author, Jesse Davis is an experienced wholesaler in the Jackson, Mississippi, Real Estate market. He has wholesaled over 80 properties this year alone, and he teaches a seminar on how to really be successful in today's market. Go here to learn how to find all the buyers you will ever need to build a massive monthly income in Real Estate today
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