How to Reverse Wholesale
Assemble A Buyer's List., Choose An Investor To Work With., Find The Right Property., Put In Under Contract And Present It To The Investor., If All Else Fails, Return To The Buyer's List.
Step-by-Step Guide
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Step 1: Assemble A Buyer's List.
These buyers are typically people who frequently invest in real estate, like fix and flippers and landlords who rent out properties.
The best way to find these people is by networking.
Try going to places like REIA meetings and trading some business cards.
Once you have a solid list assembled, start contacting each person individually. -
Step 2: Choose An Investor To Work With.
Eventually you will find someone who is interested in working with you, and you can start to build a rapport.
You will find out exactly what types of properties they are interested in-- what size, what location, what price range, and any intangibles that they might want.
Then you will agree on a set wholesaler's fee to be rewarded after the contract is exchange. , You will go out searching for exactly what the investor wants.
This often makes the process easier, because you don't have to guess what the people from you buyers list are looking for, like you would in a traditional wholesale.
This does make your selection a bit narrower, however. , Once you find the property that meets all of the predetermined criteria, make sure you put it under contract.
If you fail to do this before present the property to the investor, he or she could cut you out of the deal and go straight to the seller.
If you did everything correctly, the buyer should buy the contract from you, giving you your wholesaler's fee, and then close in your place. , At the odd chance that the investor is not interested in the contract that you've selected for him, you'll need to find a replacement buyer.
If this happens, don't worry.
You've essentially returned to a traditional wholesale.
Just send out an email notifying the people on your buyer's list about your property until one bites. -
Step 3: Find The Right Property.
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Step 4: Put In Under Contract And Present It To The Investor.
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Step 5: If All Else Fails
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Step 6: Return To The Buyer's List.
Detailed Guide
These buyers are typically people who frequently invest in real estate, like fix and flippers and landlords who rent out properties.
The best way to find these people is by networking.
Try going to places like REIA meetings and trading some business cards.
Once you have a solid list assembled, start contacting each person individually.
Eventually you will find someone who is interested in working with you, and you can start to build a rapport.
You will find out exactly what types of properties they are interested in-- what size, what location, what price range, and any intangibles that they might want.
Then you will agree on a set wholesaler's fee to be rewarded after the contract is exchange. , You will go out searching for exactly what the investor wants.
This often makes the process easier, because you don't have to guess what the people from you buyers list are looking for, like you would in a traditional wholesale.
This does make your selection a bit narrower, however. , Once you find the property that meets all of the predetermined criteria, make sure you put it under contract.
If you fail to do this before present the property to the investor, he or she could cut you out of the deal and go straight to the seller.
If you did everything correctly, the buyer should buy the contract from you, giving you your wholesaler's fee, and then close in your place. , At the odd chance that the investor is not interested in the contract that you've selected for him, you'll need to find a replacement buyer.
If this happens, don't worry.
You've essentially returned to a traditional wholesale.
Just send out an email notifying the people on your buyer's list about your property until one bites.
About the Author
Steven Tucker
Experienced content creator specializing in home improvement guides and tutorials.
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