Wholesaling for Beginners: The ONLY Guide You Need

Welcome back to the channel, everyone. It's Nathan Payne. If it's your first time, welcome. Well, warm welcome, warm big hug from me. Today, what we're going to be going over in today's video is what do I need to start wholesaling real estate? So tune in and let's— let me answer that question for you. By the end of this video, I promise you, you're going to know everything you need, every tool you need to start wholesaling. So stay tuned. What tools do you need to start wholesaling and how do you find buyers to eventually sell your deal to? Or if you do it the painless way, how do you find buyers first and then go find them deals that they're going to buy that you can assign them? So let's dive right in. So what is wholesaling? All right, I've done lots of videos explaining what is wholesaling, so I'm going to be brief and make it quick. So I'm assuming if you're watching this, you probably already know what wholesaling real estate is. All wholesaling real estate is, is when you have a contract with a seller to purchase their home, a real estate purchase contract that's assignable. You have it at a specific price and you can assign it to another buyer, usually a cash buyer, an end buyer, for a fee. So let's make it very simple. I'm talking to a seller. I know that they want to sell the house to me for $50,000, but the house is worth more. I know because, you know, the house needs to be repaired and can be sold on the market like $150,000. And I have a buyer that's looking to buy homes in that area and he's willing to pay $60,000. So So instead of me buying the house, spending any money, I can make money this week or in 14 days, 7 days, or whenever the buyer can close, I can make money now without having to risk my own money. Now look, you might be like, why wouldn't you just flip it? Well, a lot of people don't want to take the time to flip a house. They don't want to spend the money on contractors. They don't want to have to deal with that hassle. So they're willing. I'm willing to take my contract instead of flip it to make $30,000. I'm willing to assign it to someone today and make $15,000. Let's say half in 7 days versus getting paid in 6 months or 3 months or who knows when. So that's why wholesaling exists, and that's what it is. So what tools do you need to wholesale? Well, you can get away with just a cell phone if you just start making calls to buyers and knowing exactly what they want to buy. And then you start looking for opportunities, whether that's on the MLS for free, whether you start marketing using batch leads.

That's what we—

I love to use batch leads for marketing. But really, the tools you need to get going as a brand new person, like a brand new starter, is you need a phone, you need to be able to make some calls, text. Obviously, most people have a cell phone. You need a real estate contract, a REPC, that's what they call it, real estate purchase contract that's assignable, because you're going to need to be able to get that contract with the seller and assign it to a buyer. So you need a contract, you need a cell phone, and you need to take action. That's really what you need if we're going to break it down. Now, if you want to get efficient with this and build a business, obviously you need a marketing software like Batch Leads that you can pull lists and target more people. But in the very beginning, in order to start, you would need to know, you know, how to find buyers, what they want, phone and a contract to get that seller under contract, and that's pretty much it. But obviously you have batch leads, you have other tools that I use and I recommend people use that makes it more efficient because you need a way to comp the deal to know if it's a good deal. But if we're just gonna break it, break it down to really the bare minimum, that's what you need. So I want to show you exactly a breakdown of how to find buyers because what I suggest for brand new wholesalers or people in general, investors in general, is you need to establish relationships with buyers before you just start looking for deals or marketing to find sellers. Because if you find a seller and and get them under contract, but you have no idea you're going to wholesale it to, you could get in a lot of headaches, a lot of trouble. You know, you don't want to tell that seller, yes, I can buy your house without any knowledge or without knowing anyone that will actually buy it. Because essentially you're just guessing, right? So what I tell people to do is say, hey, go build those relationships first. You don't need to have 100 buyers. You don't need a million buyers or 1,000, like a giant buyers list. You need 5 to 10 solid relationships. So right now I'm going to show you exactly how to go find buyers for free, okay? But before I dive into that, I want to invite you guys to a masterclass that I'm doing right now. It's absolutely live and it's absolutely free. You can go on there and I go more in depth than what this video— this video I'm just showing you the tools and how to get started. But I actually on this masterclass break down the whole process start to finish. By the end of that masterclass, you literally have everything you need to go start taking action. And on that masterclass, all you have to do is register. It's on painlessholesaling.com. You just go painlesswholesaling.com, register. But on there, I give you some free tools. I actually even give you the script that I was talking about. I give you a free assignable contract. So if you, you know, you attend that, that's my invitation to you. Let's dive right into that video that I told you I would do that complete breakdown of how to find buyers. Because if you're already past that point where you're already taking action, you just need to know what tools you need to get and how to find buyers.

Let's dive in right here because I got it for you. Let's jump in. Let's talk about the resources people need to wholesale. All right. When it comes to wholesaling, it's not that— it's not that difficult. You really just need a phone, you need a list, you need some people to call, and you need to be able to ask them if they're selling, right? Nothing crazy.

Yeah, yeah, 100%. It's one of those things where it can kind of, you know, it's easy to overcomplicate, but it's, it's so simple. You know, got to find a way to, hey, how do I get leads? How do I talk to the leads? And that, I mean, honestly, that just those two things. How do I get leads and how do I talk to them?

That's right. 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. 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 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 is 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, 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 could 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, they just say, 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 Right now they're listing it around $1,169,000. 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 plus into this thing for sure.

Oh yeah. Yeah.

Out too. 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 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've 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. Even if you have like a part-time job, like you can go into Batch, pull a list, start calling people and try this and see if it's for you. And you can reach out to me or Nathan Payne Payne, you know, we're willing to help you.

All right, if you like that, if you like that information, please do me a favor. Please like, subscribe, and hit the bell icon. It really helps me out, helps me to grow this channel so we can get this in front of more people, so we can stop the people that have been doing this for years and haven't got a deal and they're trying to figure it out. My goal is to help you, if that's you, or anyone else. If you know anyone that's been trying to get in this business and has not been successful, send them to this channel. I know whatever I'm talking about, whatever video I have, is going to help because I don't just talk theory. I show how to do it. And that's the most important thing, is not just theory but implementation, showing you how to do it. All right guys, we'll see you next time.