How To NOT MESS UP A Wholesale Deal!

Today we're talking about a topic that it can either make or break your real estate wholesale deal. How to avoid messing up. As a seasoned broker, mentor, and investor with over 40 years of experience, I've seen a lot. Let's go over some ways to help you succeed. If you need more help after this video, please book some time with me one-on-one. You can find that link down below. Hi, I'm Joe Homs, and I have over 40 years of experience as a broker, mentor, and investor, and I want I want you to subscribe so that you never miss a video. Number 1, property research and do your due diligence. When you're pulling these lists from whatever source you're pulling them from, make sure at the end of the day that you're speaking with the owner of the property. There's many times where these phone calls get skip traced and, you know, find their way to somebody else who has no idea what you're talking about. So make sure when you start out your conversation or your text that you're speaking with the right person. Are you following along? Make sure that you hit that like button and help me get in front of new investors. Number 2, master the art of negotiation. And negotiation doesn't end when you sign a contract with somebody. You're negotiating until you close the deal. So whatever hiccups come along the way, whatever issues come along, you're negotiating that price that you've already signed on a contract again. And if there's any issues that come up during the inspection, you're negotiating again. You're always constantly negotiating these deals. Don't think that your job stops when you sign that contract and it's all over and you can't do anything else. If you go and, let's say, inspect the home and you find it not in the condition that was revealed to you, then you better be negotiating that price downward. Number 3, closing the deal with care. And it's very important that you keep your word that you're able to close this transaction If you're a wholesaler, hopefully you have a list of buyers that are going to buy this property and you're not going to have to go back to that owner and say, I need more time, I couldn't find a buyer. Well, I thought you were the buyer. Well, kind of I am, but now you're needing to explain that you're a wholesaler. So try to avoid all those kind of rookie mistakes and make sure that you have enough people in your pipeline to To sell this property to. Number 4, always maintain professionalism and ethics in every transaction. And ethically, you don't want to be talking to a 95-year-old widow that is basically living in 1960, and she wants to sell her house, and she says, well, I think it's worth a couple hundred thousand. Because she bought it for $10,000, and then she thinks it's a lot of money when really it's worth $700,000. So ethically, you don't want to take advantage of this situation. You obviously want to make a profit at the end of the day, but hopefully you have enough common sense that you're going to offer something to this 95-year-old that she's going to make a lot more profit on this property. And and you are as well and be able to sleep at night. Remember, it all starts with doing your due diligence, followed by strategic marketing, mastering negotiation skills, and closing the deal with care. Before we wrap up, what's one valuable lesson that you've learned from a real estate deal gone wrong? Share your insights in the comments below. And if you found this video helpful, don't forget to give it a thumbs up, subscribe to the channel, So you never miss out on valuable real estate tips. If you want more wholesaling videos, click on this playlist right here. I've got dozens of videos to help you succeed. Feel free to reach out anytime. I'm always here to help.