By: Jim Zaspel
When I started in this business, I was thoroughly convinced that there was more to wholesaling than just “finding a good deal and then plugging in a cash buyer,” and I’m here to tell you that there’s more to wholesaling than the “gurus” tell you, but I’m also here to tell you that it isn’t that hard to get a deal to closing!
Join me this Saturday June 23rd for a full 1-Day Intensive Wholesaling Success Bootcamp!
First, make sure that you actually have a deal, and by that I mean that you need to make sure you’re using the right contracts AND…that you can deliver clear title to your buyer. Make sure you order a title search on a property soon after getting the contract signed with the seller. (If you want to shop your deal for a week or so to make sure that there are buyers for it, that’s fine, but you need to get a title search done.)
Secondly, you need to market the living heck out of your deal! For instance, I’ve got a checklist of things that my staff does to market every deal we get…whether it’s a lease option or a cash wholesale deal. When it comes to finding cash buyers, I’ve documented step-by-step how we add quality, qualified cashbuyers that can close quickly to our list weekly.
Next, collect a BIG deposit from your buyer. The bigger the deposit is, the better. Of course make sure you use the correct contracts to do this. This is very important. Once you have your buyer under contract (and in the case of a lease option, you’ve done your due-diligence on a buyer), then send the closing instructions to your closing attorney or title agent. I highly recommend having a 1-page instruction sheet to send to your closing attorney/agent. This makes things really easy.
Fourth, once you’ve got the green-light from your closing agent that you’re good to close, it’s just a matter of coordinating schedules and your buyer’s funds.
***Here’s a HUGE tip that will save you tens of thousands of dollars: When it comes to co-wholesaling, make sure that ONLY you are the contact person for your client (either the buyer or seller). This gives you control of the deal and keeps people from stealing deals or buyers from you!
Lastly…get the deal to closing! Whether it’s helping the seller clean-up title defects, arranging for a moving truck, or giving the seller a ride to the title company, keep pushing that deal to closing. Remember…no one wants that deal to close as badly as you do, therefore don’t rely on anyone to have any initiative.
Follow these guidelines and you’ll close more deals.
Here’s Just a Few More Topic You’ll Will Get a In-depth Training on at this Sat. June 23rd’s Wholesaling Success Workshop:
- How to Find Motivated Sellers
- How to Run a Successfull Direct Mail Campiagn
- What Contracts to use and When
- How to Find Quality Cash Buyers
- How to Negotiate with Sellers
- Overcoming Title Challenges
…..and much much more. Spend the full day with me and my team and leave with all the tools and know-how to make your first (or next!) $5k -$25k in the next 30 days!
To YOUR Success,
P.S. – Did You RSVP for my Wholesaling Success Bootcamp this Saturday June 23rd, at The Philadelphia Airport Marriott. Reserve YOUR Seat NOW!