Flipping Homes & Taking Names With Nothing Under Contract

When your just starting out wholesaling, it can sometimes be easier to win at a casino with no money. I mean that’s basically what everybody is screaming at you right? No money down and don’t use any of your own money.

Yea it can definitely be done but it’s not easy. Trust me; I know.

Well something that I tend to do is always keep a steady flow of properties going to my buyers whether I have a property under contract or not.

How am I doing this? It’s all about networking.

Get Off Your “But”

When you first get started in wholesaling, it’s your job to get to know whats going on in your neck of the woods.

I’m talking if you see a guy riding around town in a “We Buy Houses Hummer”, you need to flag him down and yell out the window “put me on your buyers list!!” and proceed to yell your email address.

Ok it’s not that serious but you do need to be calling bandit signs and connecting with other investors.

Me personally, I’ve done this so much, I can literally look at a sign, the ugly hand writing, and the stakes used and be almost certain of what wholesaler that is and trust me; wholesaling houses here in Tampa, you see a lot of bandit signs from other wholesalers.

On their list; Now What?

When you get other wholesaler’s email blasts, pick through their listings and see if theirs anything you can possibly sell to one of your buyers.

To make some cash, when you market to your cash buyer, you can either add a little meat to the top as your payment or get paid a referral fee from the other wholesaler. Some wholesalers will split 50/50 but not all and when I say not all, I mean most.

It’s still a way to get some income in when you don’t have anything under contract.

How Do I Make Sure I Get Paid?

By using the contract I have for available for everyone that leaves a comment below explaining why you want to start wholesaling. There is not good or bad comment. I would love to hear what you have to say.

This contract is the stone tablet saying you are going to get PAID for marketing their property. You need this.

Few Quick Tips:

• When you call other wholesalers, announce yourself as a wholesaler and not the actual cash buyer. It sucks dealing with newbs who want to tie up the deal acting like their the buyer.
• Definitely get the wholesalers permission to market their property and it won’t hurt to find out what’s the lowest you can sell it for. You’ll want to find out how much they’ll pay you also. Don’t be scared. You have nothing to worry about
• Be careful adding “meat to the top” of a deal. If the other wholesaler has a huge list, 9 times out of 10, some of your buyers may be on their list and if they see you send out the same property at a higher price, there’s a possibility that they may lose some respect for you as a wholesaler.

Now lets get busy…..

Tagged As: dennis marshall, flipping homes, flipping houses, networking, no home under contract