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Top 6 Property Types for Wholesalers to Consider

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on Thursday, 13 July 2017
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Whether you're new to wholesaling or you've been around for a while, you may be wondering what type of properties you can actually wholesale? Maybe you've worked with single family homes, but you'd like to expand your portfolio. Here's a look at the six top property choices for real estate wholesalers to consider.

Single Family Homes

This one is pretty much a given, and the most common property targeted by wholesalers. Often, wholesalers look for properties which can be most easily flipped.

Multi-Family Homes

In addition to single family homes, many wholesalers target duplexes, triplexes and fourplexes. Multi-family homes with one to four units are very popular for wholesaling because they can be very appealing for investors looking to rent the property after rehabbing it.

Condominiums and Townhouses

You may not have considered wholesaling condos and townhouses. They can be flipped, and can become very easy to wholesale once you get into them. However, you will have to pay attention to the HOA of the building and you may run into some unique rules for property transfers making it a bit more difficult.

Land and Lots

Land and buildable lots are very popular for wholesaling and can help you turn a quick profit. Whether you decide to wholesale infill lots, large acreage or even parking lots, there's money to be made here. The profit may not be as large as some of the other properties on the list, but it's still very easy and the holding cost can be much lower. In addition, you will be dealing with lower price points and fewer restrictions, in most cases.

Apartment Buildings

It's possible to wholesale apartment buildings of any size. Of course, the larger the property, the larger the potential profit, in most cases. These properties are not always easy to wholesale due to a limited resale market, but they are in demand.

Mobile and Manufactured Homes

Similar to single family homes, mobile and manufactured homes can be profitable for wholesalers. In fact, you can wholesale an entire mobile home park. The resale market can be large since these properties are more affordable than a traditional single family home.

There are several different types of properties you can wholesale. You don't have to just settle for single family homes. In fact, some of the most successful wholesalers don't even deal with single family homes. Consider these six types of properties and you might just find one type you want to specialize in wholesaling, or use to diversify your business.

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Top Five Tools for Wholesale Investors

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on Friday, 07 July 2017
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As a wholesaler, you're not much different than any other business person in that you need the right tools to make your job easier and to keep your business firing on all cylinders. There are several tools you can add to your arsenal as a real estate wholesaler. Here are the top five you should consider.

Good Email Marketing Service Provider

You want to be able to reach buyers and seller fast and easy. Email marketing is very affordable and a great way to deliver your message to your target market. With the right service provider, you can easily manage your lists and make sure your contacts stay organized.

Two of the best choices are Aweber and MailChimp. Both provide plenty of benefits and there are plenty other choices out there, as well.

A Virtual Assistant

Outsourcing some of the necessary tasks can really help to free up your time. With a virtual assistant, you will be able to get more done and fewer things will slip through the cracks. You can use your VA to help with going through emails, data entry, customer service, organization and so much more. They can become your go-to when it comes to many tasks, which means you get to concentrate on finding deals. Try out Upwork.com to find VAs.

MLS Access

It's very difficult to be a successful wholesaler without access to MLS. This is one tool you should have to find, or at least evaluate deals. You can ask investor-friendly agents in your area for help, though getting your own license is probably the best way to gain access to the MLS database.

CRM Software

Customer Relationship Management or CRM software will help you keep your clients organized. You won't have to worry about trying to do this through old spreadsheet systems anymore. With CRM software, you can track properties, keep buyers and sellers separate and build your business with great organization. Insightly and Suite CRM are two good choices you can try out.

LinkedIn

One of the top choices when it comes to marketing, connecting and staying connected is to join the more than 460 million members of LinkedIn. This is a tool you really need to have and you can use groups and ads to promote your business, while building an online network.

There are several great tools that will help you as a wholesaler. These five should be in your arsenal and will certainly make running your business much easier.

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Real Estate Business Planning Smarts For 2017

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on Wednesday, 28 December 2016
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2017 promises to be a big year for real estate. How investors, professionals, and business owners plan now will make all the difference in how much they benefit from the opportunities over the next 12 months.

The U.S. real estate market is definitely entering 2017 on a positive and confident note. The overwhelming sentiment is certainly bullish. That also means it is competitive too. There may be some quick wins to be had while the rest of the industry is still getting warmed back up after the holidays. Yet, who reaps the biggest gains and is still surviving and thriving at the end of 2017 will be those than plan well know.

There are clearly lots of good things happening in the markets, and specifically real estate right now. That has some side effects too. Inflation is a big one. It will catch many investors, agents, and real estate business owners by surprise. We’ve already seen interest rates moving up. Three or more rate hikes are coming in 2017 according to the Fed. This alone means things will get more expensive. Life in general will get more expensive for home buyers and renters, and employees. Hopefully it also means more money in the economy to be spent. Still, it is crucial to factor these rising costs into plans in order to stay afloat and on top of your game.

This will come into play in property costs, and the cost of most types of leverage. That can often be balanced out in the market. Then there are other costs. The cost of building materials, gas, marketing materials, and freelance workers. You have to build these escalating expenses into your plans. Otherwise you’ll quickly be upside down, if not at least be experiencing far thinner spreads than projected. This shouldn’t be a big problem for wholesalers. It may be a little more challenging for rehabbers. Even more so for buy and hold landlords.

With this in mind some will find it highly profitable to lock in contracts and even prepay vendors and contractors in advance before the ball drops for 2017. This will not only hold down costs, but may provide additional tax benefits too. Others might be able to negotiate preferred terms with vendors and contractors by going long with engagements. Instead of month by month print marketing look at quarterly and annual deals. Instead of piece by piece with freelancers consider monthly or annual arrangements. You may get them to put in more effort in investing themselves in your success too.

 

Plan well now. Reap the benefits all year.

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Does It Matter Who You Flip Your Properties To?

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on Thursday, 25 August 2016
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Does it make any difference who you flip properties to?

Some real estate sellers really don’t have a choice who they sell to. If they list a property with an agent, on the MLS, or at an auction, they really can’t pick and choose. If a buyer comes in with a full price offer their agent is at least due commission for that. But house flippers and wholesalers do have some control.

You can choose who you promote your property deals to. And you should.

Note that you cannot, and should not discriminate in any way, shape, or form. That also means you should be able to back up your choices of buyers. Government and regulators are increasingly stepping in, and at least in one area now control how landlords choose tenants. But it is very important to choose.

Why? We aren’t just talking about selecting the best qualified buyer who is most likely to close on time. That’s a given. However, as the market changes investors will find their future in the business is largely dictated by their buyer choices.

It matters for your reputation. It matters for staying out of legal trouble. In turn this will make a big difference in how many referrals you get, how many repeat deals you do, and the volume you can do. If you are tied to a rehabber who does a shady job and just covers up the mold instead of remedying it, or who does dangerous and illegal electrical work, that can come back to haunt you. Not just legally, but having to live with the fact that you had a hand in harming someone else and their family.

While we all want to maximize profit that also means looking at the long term picture. Are your end buyers pulling a ‘Valeant’ and are pumping up prices so high they are unsustainable, and that they will derail the area due to lack of affordability? Or are they helping people get into good homes and investments while making a fair, but very attractive paycheck?

So how do you get the right buyers? One conversation will usually tell you a lot about a person and their motivations. Google is a pretty handy and fast to use tool as well. Though you can also streamline this process and filter your funnel by sourcing buyers from the right places. Instead of blasting out to the whole world, what if you sought buyers from on and offline groups that shared your same values. Who follows the same people on LinkedIn or Instagram as you do? Who attends the same types of local meetups?

This isn’t an easy decision, and it may not appear to put the most money in your pocket this month. But in two years from now it could make all the differences in whether you are still in the real estate business, and how much of your gains you get to keep.

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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[Wholesaling Houses] 5 Unexpected Channels To More End Buyers

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on Thursday, 12 March 2015
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While many US housing markets are on fire in 2015, getting paid as a real estate wholesaler is all about getting the end buyers. So where are they?

Many individuals might be buying the media spin about declining foreclosures and default rates, but not the serious wholesalers with the real data. However, even though inventory may be plentiful, properties are selling in hours, and transactional funding allows real estate investors to scale instantly, the dots are only connected to the cash when the end buyers are lined up.

Obviously the challenge is that everyone is after the buyers. The solution is gaining referrals where others aren’t.

How about…

Probate Attorneys

Probate attorneys are sometimes sought out by real estate investors and wholesalers as a source of acquisitions. However, these professionals are also in touch with all of the heirs inheriting property and liquidating estates, and in course of other business – heads of estates who are often investors. Why not tap them for buyer leads?

Realtors

Okay, real estate agents may be hit up by investors and wholesalers all the time. But rarely are they approached in the right way. Offering 3% or more commission to a Realtor with a consistent volume of business, and in particular off market deals can leave them to focus on feeding you more buyers, and making your deals the ones they push hardest to their most qualified clients.

Mortgage Brokers

As with the above mortgage brokers are often sorely under tapped as a resource. Forget the refinance turndowns. They often make a lot more on purchase loans. They have great relationships with repeat buyers and end investors that are qualified and stuck until they can find deals to jump on.

Bartenders

Local bartenders are privy to so many conversations that others aren’t, and for some reason they are often perceived as trusted referral sources. Why shouldn’t the best bartenders in the best establishments in town have your business cards to hand out to those that are looking for property to buy at just the right moment? This is particularly true in gateway cities and tourist destinations where visitors don’t know anyone else and need answers fast.

Vacation Rental Owners

Building on the above; why not reduce the chances of missing out on leads in popular vacation and business areas by connecting with vacation rental owners, and corporate housing or extended stay operators, and leveraging them to market to business and vacation travelers who may be prime prospects for buying?

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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Best Transaction Funding Reviews Trulia’s 2015 Marketing Plan

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on Thursday, 15 January 2015
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Trulia recently published its 2015 Marketing Plan for real estate professionals. So what tactics and strategies does the online real estate giant recommend that can be adopted by wholesalers and agents, and what might some want to avoid copying?

Best Transaction Funding breaks down the highlights of the report and reviews the good, the bad, and the questionable…

Best Transaction Funding Reviews Trulia’s Online Marketing Strategy for 2015:

Trulia’s recommendations for 2015 are:

 

  • Write a blog
  • Implement SEO strategy
  • Automate e-mail
  • Commit to a CRM
  • Invest in video
  • Create unique property listing websites (SEO)
  • Build out social media
  • Invest Mobile Ads for your target markets

 

BTF’s Take: Clearly blogging and SEO top the list. While some real estate pros, including wholesalers have neglected these items in the past, 2015 should be the year they become top priority. The main obstacle all of these recommendations present is that few real estate agents, investors, and CEOs really have a handle on these marketing strategies, and lack the time to figure them out.

Fortunately, these items can be outsourced to individual experts, or online real estate lead generation can be turned over to turnkey services like Realty Motor or Sensei Gilliland’s (@SenseiGilliland) top secret Jabber Mouth Marketing service which we have been told is just about to come out of stealth mode. This will leave investors time to get on with the most important money making work – closing the leads that come in.

Related: 6 Easy Ways to Spark Lead Generation for Real Estate Wholesalers

Best Transaction Funding Reviews Trulia’s Social Media Strategy for 2015:

Trulia suggests…

 

  • Do focus on quality over the quantity
  • Do leverage images for double the sharing potential
  • Do make it a two-way conversation
  • Don’t only post your listings
  • Don’t neglect “up-and-coming” social networks like Pinterest, LinkedIn, and Instagram
  • Don’t underestimate others because you never know who could become a client

 

BTF’s Take: There’s not much new or unconventional here except for the reference to specific social media sites. Instagram has become a rock star in the social world, experiencing Bieber like overnight success for some. However, most would serious question the power of Facebook, Pinterest, and LinkedIn. So what does the data say?

According to Shareaholic’s 2014 report:

 

  • Facebook still delivers the overwhelming amount of referrals
  • Pinterest is #2, but at just over 25% of that of Facebook
  • Only Google+ and LinkedIn saw traffic rising in Q3 2014
  • However, LinkedIn did not make the list of networks which saw traffic rise on an annual basis

 

Read: Where to Get the Investment Property Funding You Need

Trulia’s Marketing Budget Recommendations

Interestingly Trulia only identified and named 5 specific items to budget for in 2015:

 

  1. Ads - Online
  2. Website
  3. Blog
  4. Ads – Print
  5. Business Cards

 

Conclusion:

Concluding that Trulia ought to have the budget, data, and research talent to deliver strong insights in their 2015 Marketing Plan real estate wholesalers may be best served by focusing on blogging and SEO, followed by print ads to capture offline leads. However, many may be best served in outsourcing these activities so that they can focus on closing transactions.

Don’t Forget to Check Out: 2015 Valentine’s Day Marketing Tips for Real Estate Wholesalers

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long

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The Spreads For Real Estate Wholesalers Just Keep Getting Better...

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on Friday, 11 October 2013
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While some media pundits have recently raised questions as to whether the strong housing rebound will be detrimental to flipping houses a variety of trends and factors appear to be widening spreads for even further.

This week Market Wired can a story on a small Southern California investment firm which has tapped $50 million in private equity funds from Colony. Rather than using it to go after distressed property, the firm announced it will be acquiring already updated homes and plowing an additional 50 to 100% in further luxury improvements in them for resale.

Other passive income investors have been getting pulled into build-to-rent programs which land them with ‘deals’ priced above market and face having their money sit idle for months or years during construction before ever seeing a penny in return or cash flow.

Meanwhile Detroit seems unsure what to do with its $300m in redevelopment funds while sitting on 78,000 abandoned properties. At the same time residential mortgages in default top $210 billion, with a small fraction of this number represented by actual REOs. The rest are still ripe for picking up in a variety of ways.

Still, visibility seems to remain the issue which holds many wholesalers back from reaching their full potential and deal flow. The buyers are there, eager to pick up everything they can, and are surprisingly hitting the internet crying out for wholesale property contacts.

It’s on those investors with the inventory to step up and demand more visibility in order reap the rewards of the market. If you are not seeing all of the volume you’d like it is not the market, not a lack of demand, and with BestTransactionFunding.com to provide all the liquidity needed the only thing holding you back from more business and taking full advantage of the market is getting found by those that want the product.

To bridge the divide consider Twitter’s new advertising tools, press releases, SEO rich content, Google Adwords campaigns, and expanding your LinkedIn network.
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Wholesaling Pros: How To Get The Attention You Deserve

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on Friday, 06 September 2013
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Even though the U.S. real estate market is booming and the demand from end buyers is enormous many wholesalers are still struggling to get the attention they need and deserve to real drive the volume of deal flow that they’d like to and hit their personal and business goals.

So if you can relate, what’s the best way to gain more visibility, grab attention and get others busy promoting you?

One of the most common ways that real estate professionals attempt to attract more attention and artificially boost their credibility is with expensive toys. This runs the gamut from expensive clothes and even more expensive cars to bigger homes, lavish dinners and parties and more. Unfortunately what goes wrong here is that with only a couple of exceptions these are the side effects of success, not the marketing tools to get there. Doing it in reverse is often only the fast track to bankruptcy following a whole line of terrible decisions.

Most real estate wholesalers would be far better off putting that cash to work in direct advertising to generate returns rather than just inflating their own egos. However, before you go gambling on an array of giant billboard ads, radio play of TV commercials take the time to weigh the real ROI. While not as spectacular could simple bandit signs, Facebook promoted posts and Google Adwords, and commenting in online forums like Bigger Pockets actually produce a much better ROI?

If the issue isn’t necessarily web traffic or broad visibility but credibility and conversions most wholesalers can do a lot to improve their numbers by getting better at positioning. This can be both physical positioning of real estate advertising and positioning against or in alignment with bigger brands within advertisements. For example; we all know how terribly home builders are gouging today’s buyers with top of the market prices and pushing them to use in-house. Preferred vendors. So what about bench ads right outside a development with “‘like new’ houses for a fraction of the cost, and no slimy sales people in suits to deal with”?

When it comes to leveraging influencers today (which is really the fast track to credibility, visibility and profitability) newer investors have to prove themselves. That influencer worked hard and invested a lot in getting where they are today. Why should they let you ride their coattails for free, especially when they don’t know what impact you are going to have on their reputation?

Use creative guerrilla marketing moves to get their attention, and show how valuable you can be for them first. Then once you get the shot – do good deals and earn referrals and repeat business.
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