So, if I was to start all over again as a wholesaler in a new market… want to know what I’d do first?
Yep, I’d build my buyers list first. Without a doubt.
Because there’s a big difference in shopping for what a buyer wants vs. trying to sell to them what you have.
I heard an analogy about this idea from a fellow investor and it really stuck with me:
Can you imagine going to a restaurant and the waiter brings you the food they choose rather than taking your order?
Pretty silly, right?
That’s totally backwards.
But that’s how some investors run their business. They find deals first, then try to serve them up to any buyer.
I’m telling you from my own years of experience—the other way is much better and gets more deals done.
I believe—and it’s worked for me in my business—that the better approach is to build up a list of buyers, and then find out what they want.
See, you need to know what your buyers are interested in…
To do that, you build rapport to establish a solid relationship with them, so you’re both comfortable talking in detail about their needs and you’re in tune with the deals they want.
This way, you are in control—you are creating the opportunity.
Words of Caution:
- Make sure you are wholesaling the right (legal) way—meaning, have the intent and means to close on the deal and do a double closing. You can’t broker deals if you don’t have your real estate license. I encourage you to be licensed—I am.
- Advertise the contract you’re selling, NOT the house.
So remember, find the buyers first… and bring them their ideal opportunities.