Selling Your Real Estate Wholesale Deal
If you're looking to sell a real estate wholesale deal, this blog post shares key insights to help you effectively market and dispose of the property to potential buyers. We'll cover tips from experienced real estate wholesaler Ryan Haywood on crafting an appealing flyer to showcase the deal, considerations during property walkthroughs, and preparing to address buyers' questions.
The goal is to provide a professional presentation of your wholesale deal to attract buyers and sell for top dollar.
Effective Disposition Process
A major factor in maximizing profits from your real estate wholesale deal is the disposition process - how you present the deal under contract to potential buyers. Creating an attractive flyer serves as a snapshot of your due diligence and gives investors a glimpse of the property's potential. The flyer should include:
- Photos: Showcase the property in the best possible light with a well-composed exterior photo. Unique character features also help.
- Estimated ARV: Research sale prices in the area to provide a starting point on value. Encourage buyers to still do their own due diligence.
- Details: Accurate details on bedrooms, bathrooms, square footage.
- Repair estimate: Helps buyers assess the deal as an investment opportunity. Base estimate on square footage.
- Assignment price: Your asking price to pass rights to purchase the property.
- Contact information: Crucial to include valid contact details.
"It's going to help them see that you've put the time and the effort in presenting this deal to them. It should help your close rate as well."
An appealing, professional flyer drives buyer interest and questions, leading to higher close rates.
Considerations During Property Walkthrough
When viewing the property, validate details like square footage against online listings. Gather information about any repairs that need done. Look at key appliances and features like the water heater, HVAC, foundation, etc. Then evaluate how the rest of the property looks and estimate a general repair cost per square footage, which Ryan dove into in another article on estimating repair costs.
In-person estimates tend to be more accurate than sites like Zillow. When you are there you can see exactly what is going on with the property to better assist you in calculations. This affects valuation, so update flyer details accordingly.
Preparing for Buyers' Questions
Take ample photos during walkthroughs - all rooms, exterior sides, electric panel, furnace, water heater, and structural issues. Photos help address buyers' questions later. Brief yourself on property details to answer questions accurately. It's better to be well prepared with this information to present to your buyers than to not know the answers and potentially hold up the process of the deal.
Pitching to Attract Buyers
Your flyer is your sales pitch, so put care into presenting the opportunity well. Emphasize potential value, share evidence of due diligence done, and highlight reasons to buy. Aim to attract calls from serious, motivated property buyers. Also, one consideration Ryan also has for his buyers since he was finding properties to make his town better, was to make sure the buyer would actually follow through on fixing the property up.
Here are some other tips from Ryan Haywood's experience successfully wholesaling over 400 properties:
- Vet your buyer list to focus marketing to those wanting this type of deal
- Make the flyer skimmable - highlight key details for initial interest
- On buyer calls, have additional photos ready to share
- Encourage buyers to research themselves, while providing your own estimates
- Update online figures with accurate walkthrough details
- Take ample pictures during the walk through to address later buyer questions
Ready to Wholesale?
If you're ready to break into wholesaling real estate, the DealMachine Real Estate Podcast features more great tips. Also, a gift Ryan has to you are property flyer templates to help showcase your deals professionally.
With an effective disposition process, attractive flyer pitch, and readiness for buyer questions, you can sell your next wholesale deal for top dollar. Do your research, encourage buyers to do theirs, and present the opportunity well.
About Samantha Ankney
Samantha has been a media specialist for DealMachine for 2.5 years. She produces, edits, writes, and publishes all media that is distributed to the DealMachine and Real Estate Investing community.