Beginner Wholesaling Advise
Hi!
I am getting ready to execute on a direct mail marketing campaign for off market properties to zip codes in the greater Milwaukee, WI market after reading, listening, and watching Jerry Norton, Pace Morby, and many other local investors. It's gotten to the time to get **** done! These are areas I know like the back of my hand! I am working with pre-foreclosure and tax delinquency leads I obtained using Propwire. I have the contracts ready, cash buyers waiting, and company set up to lock up deals.
I am also a licensed realtor, have worked a loan originator for hard money lender, have light general contracting experience. I understand how to get to an ARV, account for repair costs, the hard/soft cost of financing, and so on.
What advise would someone give in locking up deals?
What legal parameters would you be cautious of? Are there certain things you can or cannot say on an appointment or on paper?
Thanks!
Sales training will go a long way. I recommend starting with You Can't Teach a Kid to Ride a Bike at a Seminar.
#2 Wholesaling Contributor
- Wholesaler
- Tampa, FL
Hey @Francisco Solano,
Congrats on taking action!
My advice would be to make sure your purchase and sale agreement has a marketing & assignability clause so you protect your rights to promote not only the contract but the property. Another clause that I would highly recommend since you are licensed is a buyer's disclosure stating that you are a licensed agent but you are acting as a principal.
Feel free to reach out with any questions. Good luck!
