Buying and selling real estate as an investor is easy, right? Not really. There are many many ways to wholesale properties. We work with many investors looking to buy real estate investment properties in Fort Worth and the surrounding areas. Newbie real estate investors often become overwhelmed at just how much is involved in the process of any real estate transaction. Many individuals get energized and are pulled in to the real estate investing business due to the extensive net revenues you can conceivably make when you learn the business.
When investing in real estate, you have several methods or strategies available… you can rent, rent-to-own, lease purchase, owner finance, wholesale, fix and flip, and many other options as well! Wholesaling is a great alternative to help you learn what makes a great deal, understand the market and develop the negotiation skills necessary for all types of real estate deals.
Here are the top four best ways to wholesale properties in Texas.
Develop a Network of Buyers and Sellers
This might sound like common sense, but too many new wholesalers fear that they are competing with other investors. The reality is, other investors are your best allies in the wholesale process. Not only will a network of other wholesalers, frequent sellers and rehab investors become a good resource for you to find and unload opportunities, they will also be an asset in learning more about wholesaling and investing in general.
Joining a local real estate investment club is one of the best ways to build this network and discover more ways to wholesale properties in Texas and nationwide. Attend meetings and start establishing relationships with those in the immediate and surrounding areas. One of the key benefits of a club is being able to find investors who have or want opportunities just outside of your immediate areas. This could be a valuable group as you expand your business. One of the fastest growing and well-known clubs in the Dallas Fort Worth area is the West DFW REI Group. Check em out and join them for some great networking and education.
Present Buyers With A Plan
Make it easy for a potential buyer to see the value in the wholesale deal. Prepare a detailed market analysis (see our recommended list of market analysis tools here) of the property, the market, and the potential rehab cost (check out the free rehab evaluation software on our resources page here). Make it easy for the buyer to see the return on investment and make a quick decision. Sure, the buyer will want to do his own due diligence but you’ll get more interest in any property by simply having all the details in order.
Think of it this way, a person buying a stock doesn’t usually just go on the word of his stockbroker. He looks at the essential numbers before making a final decision. The key to good sales is being able to answer objections the buyer may bring up. Don’t take any of these objections personally but listen carefully to what they are and learn to address them with a solution. Real estate investors are savvy and successful because they understand how to take any one property to turn a profit. You’ll get a better reputation for wholesaling when buyers know most of the work is already done for them and they simply need to confirm your research.
Real estate investing is often a team endeavor, especially as you start out. Having partners is a step beyond just wholesaling and networking. Partners become an integral part of the deal process. While you might not want to share profits, it makes sense to do this if you can scale up the operation. If you are good at finding distressed properties and have a partner who can present the package to sellers, you both can focus on the areas where you are best suited. This increases your chances of finding and obtaining more properties to wholesale. The more people you know and network with, the more you have your pulse on the local opportunities.
As your business grows and you expand into other areas of real estate investing, the partnership also grows to ease the overwhelming burden of any one transaction. It’s a simple divide and conquer approach with each person great at what they do and focusing on strengths while learning more about their weaknesses.
If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (817) 550-5069 Opt# 8 or reach out to us HERE and we might be able to give you some suggestions or even make some introductions.
Invest Back Into Your Business
Making money is priority one. Even though you aren’t investing the big bucks into a real estate rehab, make sure you don’t think that wholesaling has no costs involved. Sure you can keep costs to a minimum, but investing in your company allows you to scale up and build the business in your area.
How do you invest in your wholesaling business? Pay for real estate classes and join investment clubs. Spend money on advertising and presentations. Hire an assistant or a Virtual Assistant to help you maintain a professional image and spend time in the community networking. Wholesalers need to be out and about to know what is going on and find the great deals. Once you have mastered the art of wholesaling, you are better prepared to make your own investments in distressed properties, rehab them and flip them for profit. With these best ways to wholesale properties tips, you’ll know the timelines for success and become a better negotiator when the dollars are bigger and your own.
FOR MORE INFORMATION OR TO DISCUSS POSSIBLE PARTNER OPPORTUNITIES WITH US ON SOME REAL ESTATE DEALS, GIVE US A CALL AT (817) 550-5069 Opt# 8 OR FILL OUT THIS SHORT FORM TO TELL US ABOUT YOUR DEAL FOR SALE TODAY!
IF YOU ARE A WHOLESALER AND HAVE DEALS IN Texas, GIVE US A CALL AT (817) 550-5069 Opt# 8 OR FILL OUT OUR ONLINE FORM.
IF YOU ARE A WHOLESALER AND LOOKING FOR MORE DEALS, JOIN OUR BUYERS LIST AT www.TradeCash4Houses.com, OR GIVE US A CALL AT (817) 550-5069 Opt# 8
TMC Property Solutions is an accredited business and A+ rated members of the Fort Worth BBB and has been helping families, buying and selling houses fast, and teaching/mentoring investors since 2000.
Are you buying houses in North Texas? Come join our West DFW REI Group by clicking here. Network, learn, do more deals, and make more money.
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