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.
My analogy of such strategy to selling peanut butter in the desert may sound harsh, but there is a reason I made it. You may think that you have a good deal, but once you get the property you may find that nobody in your area wants it. How do you know the deal is a deal? Just because the house is cheap does not make it a good deal.
To avoid such problems I recommend working hard on finding buyers first and making sure you know there is a market for your deal. Make sure that you know the price you actually can sell houses for, which will enable you to find the real deals. Finding a cheap deal requires little skill; finding the buyers is what gives you the power!
What takes skill and work is finding the buyers - any amateur can find a deal, especially in today's market. Knowing your buyers, knowing what they really want in a deal is what singles out 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.
My analogy of such strategy to selling peanut butter in the desert may sound harsh, but there is a reason I made it. You may think that you have a good deal, but once you get the property you may find that nobody in your area wants it. How do you know the deal is a deal? Just because the house is cheap does not make it a good deal.
To avoid such problems I recommend working hard on finding buyers first and making sure you know there is a market for your deal. Make sure that you know the price you actually can sell houses for, which will enable you to find the real deals. Finding a cheap deal requires little skill; finding the buyers is what gives you the power!
What takes skill and work is finding the buyers - any amateur can find a deal, especially in today's market. Knowing your buyers, knowing what they really want in a deal is what singles out a successful real estate wholesaler from most people in this business.
About the Author:
About the author: Jesse Davis is an experienced 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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