OK, I will be very frank with you. Hoping to sell the house to a rehabber when you don't know any is like hoping to sell peanut butter in the middle of the desert. If you get lucky, a rehabber may find out about your deal and get interested, but I definitely recommend building the buyers list and be sure you can sell the property before you bought it.
Of course if you have the money, are willing to take the risk of holding the property or rehabbing it yourself, then go ahead and buy. But if you want to resell it fast, then the way you are going about it is wrong! A lot of people do it that way. Oh yea, most people also fail.
There is a reason I make an analogy of such strategy to selling peanut butter in the desert. You may think that a property is a good deal, but once you get it you may find that the buyers in your area don't want it. So how do you know it is a deal? Just because it is cheap does not make it good.
So I recommend working on finding buyers in the first place and making sure you know there is a market for the house that you think is a deal. Make sure that you know the price you can sell houses for in a particular area, then you will be able to find the real deals. Finding a cheap deal takes not much skill; finding the buyers is what gives you the power!
Finding the buyers is what takes skill and work - any ignoramus can go find a deal, especially in today's market. Knowing your buyers, knowing what they really want in a deal is what separates a successful real estate wholesaler from most people in this business.
Of course if you have the money, are willing to take the risk of holding the property or rehabbing it yourself, then go ahead and buy. But if you want to resell it fast, then the way you are going about it is wrong! A lot of people do it that way. Oh yea, most people also fail.
There is a reason I make an analogy of such strategy to selling peanut butter in the desert. You may think that a property is a good deal, but once you get it you may find that the buyers in your area don't want it. So how do you know it is a deal? Just because it is cheap does not make it good.
So I recommend working on finding buyers in the first place and making sure you know there is a market for the house that you think is a deal. Make sure that you know the price you can sell houses for in a particular area, then you will be able to find the real deals. Finding a cheap deal takes not much skill; finding the buyers is what gives you the power!
Finding the buyers is what takes skill and work - any ignoramus can go find a deal, especially in today's market. Knowing your buyers, knowing what they really want in a deal is what separates a successful real estate wholesaler from most people in this business.
About the Author:
The author, Jesse Davis is an expert wholesaler in the Jackson Mississippi Real Estate market. Click here for tips on how to wholesale Real Estate and to get a free audio on Wholesaling Real estate
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