In this instructional YouTube video, Nathan Payne demonstrates his step‑by‑step process for sourcing a buyer when a wholesaler lands a property in a market where they have no existing buyer list. Using a newly acquired apartment‑complex lead in Salida, Colorado, Nathan explains how he searches batch‑lead databases for recent cash buyers of similar multifamily assets, vets the seller, and gathers key deal parameters. He conducts a live phone interview with the property’s trustee, Philip, uncovering the seller’s ownership structure (trust), financing expectations (5% interest, 10‑15% down, up to a 10‑year term), occupancy status (fully occupied on month‑to‑month leases), and rent‑level opportunities (current $500‑$700, potential higher rates). Nathan outlines his plan to involve a Denver‑based rehab partner, coordinate walkthroughs, and ultimately present a wholesale offer that balances the seller’s term preferences with buyer market data. The video concludes with Nathan summarizing the wholesale workflow: ask for seller price expectations, assess buyer demand, craft an offer, and secure a contract, emphasizing that the entire process can be completed within an hour.
Chapters
What's going on everybody? Today I'm going to be showing you exactly how to find a buyer for a deal that you have. Right now I just got a lead for an apartment complex in Colorado. This is in a small town. I don't have any buyers in this area, and what I usually tell you guys is to have buyers first, but sometimes you get deals that are in areas where, you know, you don't have a buyer, so you got to go find one, and that's where you can wholesale that way. What I would do in this situation, what I'm actually going to do, is I'm going to go look on batch leads for buyers that have purchased properties for cash or who have just bought apartment complexes in that area of Colorado where I have this lead in the last 12 months. And I'm going to reach out to them and ask them if they're looking to buy anymore. And if they are looking to buy anymore, I'm going to give them the information after I vet them. I'm going to give them the information about this deal. But before I give them that information about the deal, I'm going to run some comps. I actually saw some comps that, uh, one of my business partners that sent me this lead he's ran. So it looks like the apartment complex that they have is not performing very well. The rents are very low and they can be increased. So what I'm going to do right now, live for you guys to watch, is I'm going to call the owner of the apartment complex. It's in a trust. I'm going to ask them if they're open to terms. I'm going to ask them if they're open to cash. I'm going to ask them, you know, what, what options they've explored to sell this property, see what we can figure out. And, uh, you know, I'm going to walk you through the whole process.
Hi, this is Philip.
Hey Philip, how you doing? This is Nathan Payne. I think you just got done talking to David the other day about your apartment complex.
Oh, okay.
Yeah, do you have a couple minutes to chat or did I catch you at a bad time?
Sure, I have a couple of minutes.
Okay, yeah, so David was able to kind of send me the numbers about the apartment complex that you have, and I work in the Colorado area, specifically like in Denver and Pueblo and like kind of the bigger areas. This property is, we've actually never done a deal in this area, Salida, is that how you pronounce it?
It's pronounced Salida.
Salida, okay. I was kind of calling just to get a little bit more information. I know he gave me a lot of info on his Excel spreadsheet that he sent me, but I was kind of curious of what, What's the game plan for you and your family going forward? Are you looking to sell this like for cash to an investor like us and just get it done quickly? Are you open to listing it and just waiting and trying to get like the top dollar? Just kind of curious what your goal is.
No, we're not interested in listing it. You know, if you're an investor and you're looking for an investment property in a—
Right.
Up-and-coming Colorado mountain town, then it's a good fit. And if not, it's not a good fit.
So, uh, looking, looking for a cash, uh, cash offer. Are you open— just curious, like, right off the bat, I'm just curious— are you open to selling it on terms if we're able to pay a little bit more than what we'd be able to offer on our cash price?
Sure.
Okay. Do you own it free and clear, or is there an existing You know, there's no mortgage on it. Okay. Have you, if you were to sell it on terms and we were able to negotiate something, do you have a certain amount of money that, or interest that you'd want on the property? Like for it to make sense or be worth it to you?
You know, my money market's paying close to 5%.
Okay. So 5% interest rate. And do you have a certain amount of money down? I mean, for us, we love to get into these for no money down, but You know, that's not always the case.
You know, if we could do, I don't know, 10 or 15% down would be— it would make it worth our while.
Oh yeah, totally get it. Yeah, that's why I ask up front, just because, you know, sometimes the cash offers come in a lot lower, so we like to have other options available. So we're thinking around 5% and, you know, 10 to 15% down. And how do you know how long you'd feel comfortable holding that? Would you be able to do it for like the 30 years or, you know, less?
We probably don't want to look further out than 10.
Okay. All right. So what I can do is I can kind of come up with an offer that would make sense with those as I crunch the numbers. Do you have an asking price if you were to get, you know, cash versus like if you were to finance us and sell to us on terms?
I don't.
Okay.
You know, there are 3 people that are the beneficiaries of this. It's currently in a, in a, in a trust, right?
Right. So you'd have to— I'm assuming you have to get everyone to agree on, you know, the offer that you guys all accept, right?
We don't need signatures from all of them, but it would be nice to have their buy-in.
Okay. And I think David was telling me that, uh, you know, 3, 3 months to a year is when you'd like to sell this. So it's not like From what I understand, it's not like it needs to get done this month.
No, it doesn't need to get done this month, but I mean, if we're going to do something, if you and I are going to keep talking about this, right, I don't want to string it along.
Yeah, of course. No, I totally get that. Um, and are all the, uh, I think all of them are occupied, correct? All the units?
Correct, but they're all on month to month, so On the other hand, you know, that makes it easy. The thing about this building is it's one of the most affordable rents in town. It's really under market.
Yeah, no, I can definitely see that. You're at 6— it looks like $620— no, $700 is the highest, um, one you got that you're renting the building out for, or one of the units, right? Okay.
And you know, if you have an investor who wants to do a project, the town is coming up.
Yeah.
So we might be interested in doing something along those lines.
Yeah. That's what we usually like to do is we like to go in and update each unit one by one instead of like kicking everyone out and then raise the rents. That would be kind of one of the goals there. But yes, if you were able to hold the note, that would save us a lot of money. Do you by chance know what the rents— I see they're like ranging between $500 and $700 on this. Do you know what we could raise it to? Sounds like you understand the area pretty well.
Oh, if you look around town, you'll see that, you know, 2-bedroom condos 4 blocks away are going for a million apiece, right? I mean, hotel rooms are tight. So if you, if you look at those as sort of comparable rents, those are between, depending upon the season, between $115,000 and $200,000 a night.
Yeah.
So, okay, I mean, it's a resort town.
Yeah, right.
Okay, this week, if you've never been, you should go.
Yeah, yeah, I've never been. I live in Salt Lake City, Utah, and I've been out to Denver a couple times, but, uh, yeah, I didn't— never been out here. Sounds, sounds nice the way you're talking about it. Maybe I need to head out.
It's kind of, it's kind of like a Park City without as much— quite as much green. Not as much Hollywood.
No, I understand that. No Sundance there.
Not yet.
Not yet. Okay. Well, that's awesome. I'm glad I talked to you about it because it does sound really like a nice area. Well, yeah, I guess all I need to really do is do my research a little bit more. I just wanted to kind of ask if the terms, if you're open to terms and if you had a price in mind so I didn't come at you with some lowball offer that just— I'm not here to offend anybody, so I didn't want to. You know, do my numbers and make an offer that was not even something you'd be open to, you know what I mean?
Well, I mean, you know, the assessor has one price. Uh, if you look at the cash flow, that's another price. You're gonna have to come up with a proposal. Yeah, we'll listen. Nothing's crazy.
Yeah, no, I totally get it. Okay, well, I can do that. Is there anything else that, uh, you'd like to let me know, or I should know before I, you know, run the numbers and come back with an offer?
Nope. I can't think of anything.
Okay. All right. Well, I appreciate your time. And just to kind of be transparent on the strategy that we use, this— because we don't live in Salida, we'd probably bring in one of our partners that lives in Denver to do the rehab and go in on the deal with us. So we'd probably have to like coordinate a walkthrough with them and, you know, once, once we get a little further down the line, but I'm sure that wouldn't be a problem. Like, you know, getting a walkthrough set up and all that?
Nope.
Okay.
I have a manager on site.
Okay. Well, Philip, I appreciate your time and you have a good day and we'll be in touch.
Thanks, Nathan Payne.
So they weren't really giving me that much information when it came to what their asking price was, which makes it kind of difficult because if they give you a baseline, you know, at least like they're in the ballpark or ballpark range. And usually if this is a single-family home, I would just throw out a number. But this is an apartment complex, so we're going to have to kind of see what buyers are buying in this area because I'm not going to buy this property. I don't have no desire to own a property in Salida or whatever the guy was saying. What I'm going to do, look for buyers, see what they would pay for it, and, you know, take their offer and offer a little bit less to have my wholesale fee in there. And if it works, we got a deal. We just need to, you know, get it under contract. They are open to terms, which is really good. He said 10-15% down at 5% market, which is great because, you know, usually it's a lot more than that right now with the interest rates. So if you didn't understand a lot of that, no worries about that. You'll, you'll get it over time. But just know when you get a property, even in a town I've never heard of, what you do is you ask them what they want to sell it for. You get that information. And then once you see that they're open to cash and they're open to working with you and they're somewhat— there's some motivation, you find out what buyers are paying. You call and make the offer. If he doesn't accept, then, you know, no worries. This process shouldn't take you more than an hour to do. And if it gets done, this is a potential— well, apartment complex deals can be, you know, anywhere from $30,000, $100,000, $500,000, depends what price you get it at. That's the beauty of wholesaling. So I hope that helped you out. Check it out. Always check out our channel. We're always coming out with better, new, and improved content. So talk to you later.
