What to Look for When Wholesaling Real Estate 🚀

Top question that we get is what to look for when wholesaling real estate. What do you look for? Well, that's a great question, and we're going to answer that right now. Now, what to look for when wholesaling real estate, that honestly depends all on your strategy, okay? So by the end of this video, I'm going to give you a clear strategy of how to wholesale, what to do, how to do it, so you know exactly what to look for when wholesaling real estate. Today I'm also going to explain not only what to look for when doing real estate, but also is wholesaling illegal? Can you even it, or can you get in trouble for doing it? What kind of deals are you looking for? Do you even know, like, what, what is the best use of your time? And what kind of buyers do you need to wholesale deals to, and where do you find them? Okay, so we're going to dive into all that. So the first thing I want to address right now is, is wholesaling illegal? Wholesaling is not illegal. It's not something that, you know, you're going to get put in chains and cuffs for. Maybe if you're doing something crazy like you're going to someone's house and lighting it on fire, that's illegal. But wholesaling is not illegal. You can do it.

It does not require, at the moment, a real estate license.

There are some states that they are trying to enforce getting your license. I know some states, like, you can only— I think in Illinois you can only do one real wholesale deal a year. But there's a lot of ways to get around that. What I'm going to tell you in this video, you can get around it. But One of the ways is double closing, right? If you don't know what double closing is, it's using funds from a lender to buy it for like 24 hours, and then you can sell it at that time. So that's a way to get around it. But no, wholesaling is not illegal at the moment. I don't think it will be. And if it ever does become illegal, which, you know, you never know what the government's going to do, but if it ever does become illegal, there are ways that I teach that I currently do that it doesn't even matter. Like if you don't assign your contract, doesn't matter. I actually get paid through invoices a lot of time for my buyers, where I just invoice them and they send me money. So it never even goes to the title company, they just cut me a check. You know, I'll explain how to do that as well. So when it comes to what are you looking for when wholesaling real estate, well, that question— you're probably wondering when you ask that question, like, what, what kind of deals am I looking for? Okay, well, it really all depends on your strategy. And by that, I mean if you are buying for yourself, if you're not trying to wholesale but you're trying to acquire properties for yourself, well, Well, what do you want? Do you want rentals? Do you want Ramblers? Do you want big mansions? Like, it depends on your strategy of what you're looking for. Now, I base my strategy on the buyers that I have and what they want. That's how I wholesale, is I say, what are people buying? I'm not going to go to the middle of North Dakota or Montana and looking for, for wholesale deals or sellers that want to sell there because I already know that there's not going to be a lot of buyers. There's not a lot of inventory or there's not a lot of interest in that area. So what I do is I try to find buyers and I find their buy box, their criteria. Criteria, and I go find it. So when I have a deal, I already immediately have someone I can sell it to instead of just scrambling like a lot of wholesalers do, and they have to cancel their contracts because they can't find anybody. So what to look for as a wholesaler? Well, again, it depends on your strategy and what your buyers want. If you do not know what your buyers want, if you do not understand your market, you are going to struggle as a wholesaler, especially if you're brand new. So when it comes to what you're looking for as a wholesaler, again, it comes down to your buyers, what they want. So I actually have an in-depth video that I've made talking about how to go find buyers. If you do not have buyers that you have relationships with, that is what you need to start with. That's what you need to do. So if you don't know how to do this, I'm going to break it down right here and actually show you how to go find them using batch leads and other services and other free ways to do it. But before I get into that, I want to invite you to my free masterclass. Go to painlesswholesaling.com right now, register for free. I actually show you my strategy on how to get deals with little to no marketing spend. I'm doing deals with $0 in marketing spend, and I want to show you exactly how to do it on my live masterclass for free. And I I give you a free assignable contract that I use, you know, as a gift. So go to that right now. And what we're going to do, like I promised, I'm going to show you this portion of the video I've made in the past that shows you exactly how to find buyers so you're not left scrambling on saying like, okay, how do I look and what to know to look for when wholesaling? Well, it's right here. Let's freaking show you how to find buyers and you're going to know exactly how to do it.

So tune in. If you guys haven't seen, I always like showing the mind map because this is something I give out absolutely free. It shows the process on how to wholesale. Now I teach what's called the painless wholesaling method of reverse engineering wholesaling. Instead of just going to pull a random list and you don't know who your buyers are, I tell you to get buyers first. And that's why today we're going to be talking about how to get real estate investors that you can wholesale to, or cash buyers. Now, when you come here on the mind map, guys, the first step I tell people to do is, you know, get your mind right. If you can't handle rejection, if you don't have, I guess, a why on why to do this, it's going to be really easy to quit. And especially right now, Nathan, I mean, if you— with the way the market is, I know there's a lot of wholesalers exiting, right? I mean, they're like, "No, this is hard." Guys, this is a perfect opportunity. This is when you can pick up deals. This is when sellers can't sell traditionally and they need help. This is where we come in, right?

No, absolutely, man. And beliefs, it's such a huge thing because your beliefs are going to dictate how much action you take, right? And then the action you take is going to reinforce your beliefs, right? So if you're like, "Ah, it's a bad time, you know, I'm not really going to make any calls or find any leads," well, then you're going to get poor results. And then from that, that course is, ah, see, I, I told you so, I knew it wouldn't work. Where it's like, no, now was such a good time. That's what everyone else is thinking, right? Everyone else is thinking that. They're, they're hopping out of the game, they're like, oh, it's a bad time for real estate. Guys, the top players in this industry are so excited right now, about to clean up. Um, yeah, if you're watching this, you should be too.

Yeah, so that's, that's why you got to get the right mindset, because the people that are exiting have the wrong mindset. I believe right now opportunities to structure deals with people, the opportunities are going to be really good and are good. So after you get your mind right, you pick one market. Now, we— me and you both have done the nationwide model. It's pretty difficult unless like you have some sort of edge up on the competition where you have like an SEO website or you have discounted pay-per-click leads or something. Nationwide, all over the place, difficult. I'm just shooting you straight, everybody. But what we do teach is one market. Pick one market and master it. And that's especially for now. If the market picks up and is super hot again, then finding a deal anywhere and selling it will be very easy. But it's not like that. So pick one area, master it. After you pick your market, you find the cash buyers, you find who's still buying, find the people that have the right mindset that they're saying, yeah, I'm picking up properties, I know it's going to go back up. Those are the people you want to connect with, and then you ask them their buy box criteria. Now everything I've shown you here, it's just high-level overview, but if you go inside the mind map, it will actually in detail show you how to talk to cash buyers, where to get the information, the scripts to talk to them. Like, this is a script on what to ask cash buyers. Everything is in the mind map that will show you the process of how to wholesale. But today, and specifically for this call, we're going to dive right into how to find those cash buyers, okay, or those real estate investors you can wholesale to. So first thing is, before looking for deals, you want to find out what cash buyers in your market are buying. It'd be stupid to go to Alaska and look for single-family homes if everyone there wants multi-units, right? If people are like, I don't really invest in single-family, yet you want to know what people are buying, right? So First, you got to call some people. I don't advocate right now for blasting out like your deals to like 1,000 to 10,000 buyers because they're not going to open your email. They're not going to look at your text. They don't know who you are. And right now they're not that motivated, in my opinion, to buy a deal. The majority of them, you got to find the people that are right here on the mind map. What we're going to do is we're going to go in and look at the ways to find buyers, right? So you got flippers. There's different types of buyers. You got landlord cash buyers, realtors, wholesalers. They know the buyers. So I call them buyers, hedge funds. They're kind of taking a break right now. Different ways to market to them. Here's some information on how to market to them once you do get them. But anyway, we'll focus on flippers. This is why I love batch leads, because what you can do is among all the different strategies, you can go right to batch leads and you can go pick a specific area. Let's check it out. So right now, just for example, let's do Salt Lake City, Utah, right? Because that's where I am. Let's give it a shot.

All you do is go to the boundary.

Go here, and if you go to quick filter right here at the very bottom, cash buyers, 18,302 cash buyers that Batch is telling me about in this area that I can call and skip trace, or I can call the agents that represented them if they flipped. And if you look at these, most of the properties are here have been flipped. So what Batch's filter is saying on these is, hey, these are flippers that have bought a house and then they sold it with a real estate agent within the last year. And you can even go in here and Batch will tell you, you know, their criteria of how they did if you click on this question mark, right? Recent cash and hard money loan purchases. Great, right? So if I wanted to and I had a property in this area, like right next door, that was a piece of trash and I wanted to find a buyer, I could go right here to this deal and I could find out who purchased the property. Now, if you skip trace an LLC, sometimes it doesn't return the right info. So you can just straight up Google this guy. You can try and find out who owned it. OpenCorporates, go here. You might have to do a little bit of research, but you can find out that William R. Wong owns this bad boy, and maybe you can skip trace him. Maybe you could just search his name. A lot of cool ways to do it. If you don't want to spend, you know, the time doing that research, you can go to MLS data, and you can reach out to Tiana Shoemaker and say, hey, Tiana, I noticed that you represented a cash buyer on 1489 East Spring, that the property closed. I have a house just right by that one. And by the way, this is active actually on the MLS. So this dude is probably either still buying, or if he's not buying, she probably knows other investors. So that's the fastest way, in my opinion, find a cash buyer in an area that you want. Call the agent or call the buyer off of batch leads. Nate, what do you think?

Yeah, those, those current active flips, those are the best ones. You know, don't be afraid to talk to the agent and give the agent a call, guys, because the agent being able to be that in-between person to give you that introduction. Oh, that sets you up perfectly to have a conversation and create a relationship with that buyer. And the agent, you know, what do they get out of it? Well, the agent saying, hey, like, oh, you're looking to bring deals to my flipper who uses me, who I'm going to then list the property and make money? Oh yeah, please. I'd love to connect you guys. There's a ton of value being added in that call when you reach out to that agent. You know, you're, you're looking to do them a big favor.

—And a lot of people don't think that they can use agents to wholesale. That's the majority of the top wholesaling companies use agents to disposition their deals. And Batch is the perfect way to find out who those agents that represent flips are. You know, this guy's a flipper. Look at this thing. This thing is nice. And you know, this house was built in 1978 according to Batch. So, you know, this thing did not look like this in 1978. You know what I'm saying? This thing has been completely gutted and remodeled. I'd be interested to see what they purchased it for because Right now they're listing it around $1.169 million, and you usually can see according to the tax information. Now it's a— okay, so because Utah is a non-disclosure state, Batch and other services, unless they have MLS access, don't be— they can't see it. And that's not just Batch, that's literally every service provider. But if I went to the MLS, I could find out what they bought it for. I'd be interested to see what they bought for because, Nate, you know, this rehab probably— they probably put on 2,000 square feet, they probably put like $100K+ into this thing for sure. Oh yeah, yeah. So anyway, that is how you use Batch Leads. Super simple. So if you're just turning in, tuning in, not turning in. All right. So let's go here, Syracuse. We're going to go here. Let's say we got a property in this area. So you go to quick filters, cash buyers. This is saying 805 cash buyers have, you know, in this specific area. You would just look, you know, reach out to agents in the area that have represented flippers. And, you know, sometimes there's going to be people that purchase these properties with cash, and it's like an old grandma someone that had money, but you would really just look to see if any of them look really updated, right? So this one right here, well, that doesn't look too updated. Maybe the flipper's like, I'm not trying to flip this, I'm trying to get the heck out of this deal. I'm out of here. Who knows? Okay, this one. But yeah, you guys get the gist of it. It's really, you pick an area, you find out where the cash buyers are at, bada bing, bada boom. I want to let you guys know that if you have not tried Batch Leads at all, it's free. They give you records I think they give you 1,000 records to just go and give it a shot. So I mean, if you go in the link in the bio that's in, you know, the description, you can literally just start your free trial. Like, I could start one, but I already have it. But you could start one, get 1,000 leads, a buyer seller lead. So what I just said to you guys right here, how you can pull these, you can literally for 7-day trial, you can pull a list in your area and start calling people.

All right, so if you like that information, please like, subscribe, hit the bell icon. I promise you that I'm going to be coming out with more content like this that will help you achieve your real estate goals. And not only that, but if you have any questions, please comment in the section. I look at those every day, and if there's a question in there that I like, I'll make a video for it too. All right, see you next time.