Welcome to our blog called….Michael’s Minute!
Today’s topic: wholesaling
Wholesaling is easy, carefree and a cinch, right? Not necessarily.
I’ve been getting questions lately on how to properly wholesale with people wanting to randomly add some large assignment number regardless of numbers.
But it’s not as simple as just adding some random big number to your contract and and sending it out to a few people.
It has taken me years to organically build my buyers list that is full of all kinds of buyers for all different exit strategies both residential and commercial.
We have an Appraiser on our team with 18 years experience – who also specializes in and has been professionally trained assessing cost of repairs through photo’s alone. That allows us to add another layer of “number checking” on properties offered to keep the numbers as accurate as possible.
And we have our partner Chris, with his 30 years of real estate experience is a master at managing relationships, building rapport and successfully navigating the waters to a successful closing (remember – often times getting the contract is the easy part!).
All this is only a part of what orchestrates itself to allow us to be successful at wholesaling and assigning equitable rights, all of which is much more complex than simply adding some big number on the contract price and trying to wholesale a contract.
It is also extremely time consuming and requires a great deal of focus and diligence to do successfully and correctly in order to protect sellers and buyers, wholesaler and maintain ongoing relationships of open and fair communication. All of which can easily detract from your ability to conduct other business if not careful.
So Yes wholesaling can be good and even great! However it should not be taken with an easy/carefree attitude. Be sure to utilize our wholesaling services to assist you today!