That photo above is not a giant bush. That is a wholesale house and a big opportunity to help someone.
Your everyday average retail buyer is NEVER going to stop by and want to go inside this house. NEVER.
But – I love these houses. There is a truckload of opportunity in projects like this.
1. You have the opportunity to help the people who own the home, because obviously they need some help caring for this house.
2. You have the opportunity to help the neighborhood. Can you imagine living next to this house?
3. Finally, you help the next owners find a safe home for their family. After you spend a great deal of money, time and effort to fix it up, of course.
Once you start working on the wholesale side of this business, you realize how much OPPORTUNITY there is everywhere. And I do mean everywhere.
In every city and town, there are people who have met some of life’s challenges and are now at their wits end. Something has happened that is making them shut down – either physically, mentally and sometimes socially as well.
Our job is to find these people and help them get to the next chapter of their life – if they are ready. THAT IS A KEY POINT. Not everyone is ready to take the necessary steps today, or tomorrow.
You just want to be there when they are ready. If you are running your business ethically, it is very easy to make offers on houses, and explain why your offer is priced the way it is. When they are ready, they will trust you. Especially if you have taken the time to get to know them. Never underestimate the power of trust. It’s something that is a rare commodity these days.
If the offer is too low, or doesn’t fit the sellers needs for any number of reasons, that is fine. Maybe you can help them in another way. One of the reasons I think I have met with some success in this business is because I continue to look for ways to help people, even if I can’t just “buy their house”.
At our WREIA meeting on Monday night I am going to share my 3 simple steps to wholesaling:
- How to identify good opportunities and analyze the deal in just minutes.
- Control the property with key phrases. (Do this part wrong and you could be breaking the law.)
- Wholesale for fast cash.
After a couple of decades watching people get started, I believe that if your system is too cumbersome, you will always find a reason not to do it. When it’s too complicated, I know people get nervous about doing something wrong.
People are making this wholesaling thing waaaaay too complicated. I hear silly excuses all the time – “I don’t have my 37 step auto-responder set up.” or “I don’t know how to find the right people” or “What do I say if they do call me?”.
And the best one I hear – “My mentor told me to …xyz…” Oy vay! What most of you don’t realize is that some of those “mentors” have usually only done a deal or two, maybe three- and now they are “training” people! (Make sure you are working with a long-time-in-this-business trainer. The guy/girl with only a year or two under his/her belt won’t know what hit him/her when the cycle changes.)
Listen – I have one wholesaler who gives me a lot of deals. He is working without a website. He doesn’t even have a business card when he goes on an appointment. I know he is going to make over $100k this year. That is not uncommon today for wholesalers.
Come on out on Monday night and meet him. You are going to like what he has to say.
In fact, there are a few experienced people that regularly attend our WREIA meetings and they are happy to help you and answer questions. In fact, they lead some of the breakout small groups we have at our meetings.
Ok…. my Friday afternoon rant is over. whew….
Scroll back up and take a look at that house at the beginning of the page. How many of those do you think there are in the DC area? Quite a few, right? Especially if you know where to look.
BUT – What a lot of you need to understand is that there are a lot of homes that look that bad on the INSIDE. Either the house itself is a mess on the inside, or their is a very messy situation and the owners could use your help.
The second thing for you to do – Make sure you come out and join us on Monday night at WREIA. If you have a lot of experience, you can share some of that experience with someone who might be new to our group. If you are just getting started, or in your first couple of years, this will be a great meeting for you to attend.
Thanks and have a great weekend!
We will have WREIA this month on Monday, April 28th.
Join us at WREIA Monday night April 28th, and let me know if there is anything I can do to help you and your business.
P.S. The answer is YES, in 2014 we are still doing partner deals with our students and WREIA members. You may need some help with financing or need a valuable construction partner with years of experience. Or do you need us to help speed up the process for you, and help drive your business to the next level? We are here to help. Just send us a few quick details at http://dchardmoneylender.com/quick-property-submit/ and we will get back to you ASAP.