Building a portfolio with real estate investment is a great way to build wealth and is statistically more stable than the stock market. Good investments are hard to find in this market. Most decent houses are still selling for full retail, even if they need some work. This is where real estate wholesalers come in. They are able to find off-market and on-market properties that are more attractive deals for investors. You need to make sure they have market area knowledge, have a great track record, have a strong network of other investors and real estate professionals, and have an overall positive community presence. Here is an explanation of these four things to look for in a great Middle Georgia wholesaler.
Proven Track Record
The second thing to look for in a great Warner Robins wholesaler is their track record. Ask to talk to other investors they have done business with. This will give you a better idea of their reputation. Investors will only do repeat business with wholesalers that bring good deals.
A great wholesaler will have a transaction history of their market which can also be used as their baseline for making offers to sellers. Many of these great wholesalers have years and years of transaction history. Even though a wholesaler might only have a few months or a few years of transaction history, it is important to look for transactions with good margins. The property sales with the end buyer pricing close to regular market pricing or slightly below is a great sign. This means they are able to acquire properties with purchase pricing low enough to leave enough room for both of you to make some money!
Positive Community Presence
The fourth thing to look for in a great wholesaler is a positive community presence. It’s a sign of a great wholesaler if other real estate professionals or buyers refer you to buy properties from them. The whole purpose of buying wholesale properties is to make money, fixing up unwanted properties into a house the community wants to live in. The community will sell houses to someone they trust and respect as a member of the community. That is who you want to buy from.
If they attend a real estate networking events, take a look at how they present themselves. Are they open and talking with people? What does their marketing material convey? You also might want to check out their websites, social media, and other third-party review sites. What are others saying about them? If they do have negative reviews, how did they handle them?