So, in my recent email, I shared 2 REALLY important aspects of what some people call “virtual wholesaling”. (I prefer “automated” wholesaling.)
And if you know anything about me, you know that I do “virtual” deals in about 5 remote markets
But I couldn’t possibly do that without help.
And, if you’re doing virtual wholesales deals, you need a team to help pull it off too.
So, let me tell you the 1st person who joined my team, how I found them, and how you can find ‘em for your team too…
But let me first say that most of the time, when wholesalers first start out, they do ALL the tasks themselves. It’s just part of the game…the learning curve.
Heck, I even did that for a while—and while I certainly learned A LOT, I figured out that outsourcing 100% of the work is the smart way to do this.
Of course, I don’t make as much per deal, but in my book, it’s totally worth it.
- I’m hands-off…
- I’ve got so much quality time with my family…
- and my business is basically automated and doesn’t need me involved to do deals. (#winning )
Okay, so when I started outsourcing, the 1st team member I pulled in was a local wholesaler.
This isn’t the typical wholesaler—you need someone who wants to be driving around town all day…
- looking at houses, and
- making offers.
Someone who wants to do deals.
You DON’T want someone who sits at a desk all day, working on marketing, who’s fine being buried under Post-It Notes and paperwork.
Look for a local wholesaler who’s:
- already in the industry
- doing a couple deals a month
- been doing deals for 1-2 years (not a beginner)
- not part of a big investing company
What’s cool about bringing on local wholesalers in your virtual markets is that you don’t have to spend time doing the grunt work…
See, an established wholesaler can quickly close on deals because they’ll already have:
- a title company
- contracts and paperwork
- good buyers
- hard money lenders
- property management companies
So, where do you find these local wholesalers?
Well, lots of places…
Definitely try this Facebook group: Wholesaling Houses Full Time
This is an awesome page from my colleague and podcast co-host, Alex Joungblood. Request to join, and then network your butt off…
Chat up people in the group, make connections, go ahead and ask: “Hey, anyone wholesaling in Raleigh, North Carolina?”
You’ll be surprised how quickly you’ll be able to get connected to a solid local wholesaler that way.
Check out BiggerPockets.com too. Sometimes they have different sections for various parts of the county—so, for example, search for “Des Moine, Iowa” and it’ll bring up any threads from people who are talking about that location.
What about our good buddy, Google?
Just enter “We Buy Houses Memphis, TN” (or whatever area you’re in) and check out all the investors who are advertising there.
Do some searching on YouTube and Backpage.com, too. Also, check out Craigslist—look in the FSBO and rental sections.
In a good-sized market, you’ll find 50-100 wholesalers who are advertising wholesaling.
But fair warning…
Don’t make the mistake of thinking that all those wholesalers are your competitors and/or possible local partners, because really only about 20% of those are serious investors.
Look, I have local wholesalers working with me in every market I’m investing in. You should too.
And the first thing I do when I start in a new virtual market—yep, you should have guessed it by now—find a wholesaler like I’ve described here.
Now, go find yours. You won’t be sorry.