Should Real Estate Wholesalers Find A Buyer First?

Should Real Estate Wholesalers Find A Buyer First?

3 min max read

Welcome to the world of wholesale real estate, where the hustle meets opportunity and can potentially fill your pockets with significant finder's fees! Whether you're sitting in a dull 9-to-5 job dreaming of financial independence or eager to take your wholesaling game to the next level, this blog post is your springboard to success.

The Story of Turning Real Estate Into Real Profit

Let's kick things off by taking a cue from our esteemed guest, who brought to light a dilemma often faced by newcomers in the real estate game. The question plaguing many is how it's possible to rake in a hefty sum from simply finding a distressed property. The answer points toward a shift in strategy: identifying your end investor buyer first.

Nathan Payne shares his journey, starting with targeting expired listings. After consistent effort over two months, he landed a property in pre-foreclosure. These listings typically involve properties that failed to sell within a set period, often leading to them being pulled off the market.

Nathan's tactic? He leveraged his friend, a real estate agent with MLS access, to tap into those expired listings, a veritable gold mine for potential deals. Their formula was straightforward: cold calls with a simple script, an offer to buy the house for cash, and closing the deal swiftly.

The Art of Negotiation

The real turning point came from a slice of honest negotiation. When Nathan's initial offer to buy the property outright didn't pan out, he approached the seller to renegotiate—successfully securing a $5,000 profit by being forthright and aligning the interests of all parties involved.

“We told the seller we couldn't buy at the initial price, but we’d found another buyer who could. We asked if they were okay with us making a bit of money in the process, and to our relief, they agreed.”


The Evolution of a Wholesaling Business Model

As exhilarating as that first victory was, Nathan didn’t stop there. He refined his approach, culminating in what he now calls "Painless Wholesaling." Here's a sneak peek into his perfected model:

  1. Forge Solid Relationships: Build connections with 5 to 10 steadfast cash buyers. Understanding their buying preferences steers your targeting efforts, saving you from shotgun-marketing wide and missing your mark.

  2. Network with Investor-Friendly Title Companies: These entities have the inside track on who's actively investing and closing deals. Even if you're new to the field, exude confidence, and you may just win over their trust to share valuable buyer insights.

  3. Market Intelligently: Tailor your marketing based on your cash buyers’ exact needs. It’s about quality over quantity, ensuring effort focuses on leads within your buyers’ appetite, securing deals that work for both of you.

Where to Learn More?

Curious about embracing Nathan's painless approach to wholesaling? His YouTube channel Nathan Payne - Payneless Flipping and Facebook group by the name 'Payneless Flipping' offer treasure troves of wisdom for aspiring wholesalers.

"Painless flipping is more than a method; it's a philosophy, a path to stress-free wholesaling success."

For anyone ready to leap into the world of wholesaling or seek a different angle in your efforts, know that there's a wealth of knowledge, resources, and community support to guide you along the way.

If you find yourself stumped on finding buyers, remember that consistent networking and building relationships is key. Focus on quality connections over quantity outreach. Tailor your efforts to your buyers needs. And continue learning from those already successful in the space.

With the right mindset, strategies and community around you, every new property lead can be the gateway to your next big payout. The path to wholesaling success starts with a decision. Are you ready to step into the world where deals await your discovery?

Benjy Nichols

About Benjy Nichols

Benjy has been a media specialist at DealMachine for the last 2.5 years. He produces, writes, shoots, and edits our media content for our member's DealMachine and Real Estate education.