Wholesaling..Question

[Coltrane]

This is my first day on this forum...I am really glad I found it...I already e mailed local REI... Here's my question...I live in N.E. Pa..I 've read what it takes to find buyers...eg ..bandit signs,craigslist..etc...yesterday I did that ...i put a post on craigslist and got a response...but no house to sell...i just wanted to see if i would get a hit..that being said...I don't know how I would set up a contract and actually get someone to buy a wholesale deal??? Looking for some help from a mentor , or just a nice person...I've been reading but that means nothing ...I got to get out and do!!!! but I just need help...I do own four multi units...wholesaling seems so much better...Thank You

[MichaelQuarles]

good to meet you

your question is complex and easy   lets hook up

Michael

[Coltrane]

Hey Michael.......
Just started reading last night on this site,,,woke up ready to read more stuff.and yes  def would like o talk ...just signed up for your newsletter  for now,,,,,I need some guidance.Thanks

[ReCoachDennis]

Hey Coltrane.

Welcome in!

You're on the right path. Wholesaling is definitely the way to go. You're on the inside track because you already know about real estate , management and repairs.

Start by getting a copy of your states realtor purchase contract. You may wish to attend a contracts class to show you how to sign them up.

Build your buyers list by what you're doing already. Advertising wholesale houses etc on Craigslist and make flyers to take to your local REI Club. See who's out there and what they're looking for.

When you have your exit lined up, look for the houses that are in demand.

Glad to help you anytime.

Dennis

[Coltrane]

Hey Dennis Thanks for your input to my question,,,,
I did take an investment class already...I do have a par contact ,I know about weasel clause as well....I am buying a deal from a wholesaler to start...met with hard money guy,contractor,Pm,and out money ...have that all lined up....But wholesaling is different...Like I said I put an add on craigslist today ..I got a response...I want to share....this is what I got...

To be honest , I am also a wholesaler. I am more interested in those houses that you don't have under contract because there's not enough equity for a wholesale deal. I work with lease options and will take those that you don't' want. We can work something out after. Of course if you have a wholesale deal that you don't have a buyer for , I might have one if I can get in the deal. Good house hunting!

That's what he wrote . I don't know how truthful he is but what do I do now...LOL...Punt!!!
I did contact local REI chapter...in Harrisburg,Philly and even Baltimore...I intend on attending them...
Like I said I found this web site ,this investment group by networking...

Thank You
Again Dennis...
 

[ReCoachDennis]

Hey Coltrane,

This investor may just be another outlet for you.
If you can't do anything with a deal and he can, it may be a way to still get something out of it.

If you want to work with that investor, make sure your compensation is drawn up in writing.
See what your REI Club says about that investor's rep.

Next, find out what the investor does to get rid of properties that are a little skinny and see if you can emulate it.
You get paid for what you know...

Dennis

[Coltrane]

Thank You for replying to my post Dennis...Unfortunately this investor isn't REI so I just have to feel him out...we are going talk next week...I
Where I find myself is,,,I know I can get properties...the challenging part is I need to do my research and make sure ARV of a property is worth buying...yes...the other is finding a good Realtor....in Reading Pa.. that is willing to show me houses and not get tired,or discouraged....I love this Real Estate Investing,,,but seems impossible to get started to wholesale...
Like I say ,it's easy to find a deal to hold and rent with a good pcf, but it would be nice to be able to wholesale...honestly...and thorough..where everybody wins...Really appreciate your feedback Dennis......be well