Okay, I got a great question that came into my Podcast Hotline… and it’s something you’ll want to know.
This info is short and sweet because I’ve talked about it so much before—but it’s definitely worth mentioning again.
So, the caller said he had been approached by another wholesaler investor who wanted to assign a contract—asking for a $5k deposit and 10 days to close.
This caller wanted to know if that was a type of deal that I would come into as a partner and help find a buyer. (I often partner with my students on deals.)
But, let me stop right here and explain the main problem with this situation:
The problem is not the $5k, and it’s not even the 10 days to close, and I’m not even going to get into daisy chain stuff…
The problem is that my student didn’t have buyers at the ready.
Yeah, that’s the HUGE issue here.
I’ve said it a million times and I’ll keep saying it: ALWAYS BE MARKETING FOR BUYERS.
That’s the key.
Do NOT take on deals like my student’s unless you have a solid list of buyers.
And, I strongly advise that you not even think about marketing to sellers… until you have a strong buyers list.
Then, when people bring you deals or you find deals, you’ll know right away if you want to scoop it up—based on whether it’s a deal one of your buyers would be interested in.
Personally, I love marketing for buyers with direct mail. (That’s also a topic I talk about a lot on my podcasts and in these emails.)
So, let me be very clear…
My main point to my student and to you reading this is: Whoever has the best buyers, wins.
Get buyers first, then bring them the deals they want. Speaking from experience—you’ll kill it when you do it that way.