Whether you are new to real estate wholesaling or have been at it for some time now, these quick wholesale real estate tips have been proven to be timeless and effective.
If you are just starting your wholesale real estate business, you could be way ahead of your competition by simply avoiding these common mistakes. Below are the top 3 wholesale real estate tips to avoid discouragement.
It really doesn’t take all day to work leads, unless you let it. Keeping to a reasonable routine is ever so helpful. We all deal with distractions in a different way, and you have a pretty good idea of what's keeping you from doing more deals.
Most big cities have a local REIA, which stands for Real Estate Investor’s Association. And that is exactly the place to be. Check to see if there is one in your area. Just use the internet to search for REIA, and be sure to add your area to the search. This might be the number one wholesale real estate tips you can embrace. It will make a world of difference to your cash flow. Really.
Besides all-important networking that goes on at most REIAs, you will find lots of support from like-minded people, and it's a great place to hook up with a mentor.
When someone doesn’t show up or do what they said they would, how does it make you feel?
Nothing screams distrust or unprofessional more than not keeping your word.
And that goes for closings, too. Your job is to see the wholesale deal through, from signing the contract to buy -- all the way to closing. This is a promise, spoken or not, to the seller. All that hand-holding will get you more leads in the future. It’s important to remember the seller can be pretty stressed out about a lot of things going on in their lives.
In a quick word; Helping. Actually, helping others get their lives back on track.
You are the boy/girl scouts of the real estate world. The Superheros! You see a homeowner in trouble, and offer a way out that they didn't know was possible.
Next, when you offer your contract to a real estate investor you have just saved them the hassle of figuring out their next project. And you'll be helping put contractors to work.
Finally, when all the deals are done, you have helped a new family find the best home they can afford.
Yes, that's what wholesalers do. . . Every single day. When you keep that mindset, that is the best of the wholesale real estate tips you will ever need to know. After that, your business will flow like honey.
Connecting with a local mentor (someone who has done enough wholesale deals, and knows your specific market) can be very powerful. I've been taken to lunch more times than I can count, and each new wholesaler has nearly the same concerns.
Learn all you can about the area you plan to work as a wholesaler, because having intimate knowledge of the neighborhood will give you the valuable insight needed to be confident when you speak with potential sellers.
Continue to follow the helps found here on REBuyz, bookmark this site and return as needed.