Today, Brian and John talk about wholesaling. The guys do just a bit of wholesaling themselves, but they do a large amount of business through other wholesalers. Brian and John share that qualities that they look for when dealing with wholesalers. These traits let them know that a wholesaler knows what they’re doing and that there is potential for a long-term business relationship. We also hear several stories of the guys dealing with wholesalers over the years.
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This Episode is Sponsored by
Core Rentals offers full service, residential property management in Columbus, Ohio and surrounding areas. They are equipped to handle single-family and multi-family homes. Visit CoreRentalsOhio.com today to have the day-to-day operations of your rental property handled by professionals.
Covered Topics:
- Being upfront and honest.
- The intentions that a wholesaler should have.
- Greed hindering the abilities of some wholesalers.
Show Notes:
- 00:59 - Recent goings on.
- New employees.
- Current flips.
- The market slowing down.
- The 24-unit apartment complex.
- Search engine optimization and using a website.
- 05:17 - How to be a good wholesaler and dealing with wholesalers.
- Brian getting his first deals through wholesalers.
- 07:42 - Be upfront and honest.
- Lies that Brian and John have experienced.
- Creating a business relationship.
- Losing validity.
- A seller breaking down because of a dishonest wholesaler.
- 13:32 - Have every intention to take a property to closing.
- Wholesalers buying overpriced properties.
- How the guys wholesale properties.
- A recent story about inflated prices.
- Coming up with an accurate rehab number.
- 20:39 - Disclose all the quirks of the house.
- Avoiding wasting people’s time.
- A wholesaler trying to make too much on a deal.
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Topic Takeaways
- Be honest.
- Build your network over time.
- You’re not going to hit a home run every time.
Tweetable Quotes
“Be very careful of going into contract with someone and promising things that you can’t perform on, because it’s not fair to them.” (Tweet This!)
“The more you can bring accuracy to your numbers and to your business, the more people that are going to trust you.” (Tweet This!)
