How To Set Up A Rocking And Rolling Wholesale Business
Submitted: 12:27AM on Monday 15 September 2008
Wholesaling houses is an art:
In order to wholesale there are a few elements that you have to put together. First you have to find a way to attract deals so you will have a product to sell. Without a product, you will not be in business. Second you need to develop a list of buyers for your product. Basically you are using the old system of supply and demand that was taught in economics.
You will need a constant supply of deals to make your wholesaling business run smoothly. If you don't already know how to produce deals then there will be a lot of research you will have to do, to get a constant flow of deals to a science.
A few ways to find deals may be to place ads on different sites around the internet. Usually a few ads will give you some type of results that might need tweaking. Most ads on those sites won't be as effective without a website that they can go to instantly to find out more information.
Trusting someone will write down your contact information and call you later will be risking the loss of a lot of potential deals. People today want easy ways to find out more about how you can benefit them. You can try to load your ad with all the benefits of why they will want to sell their house to you, but that might not be effective and bore them. They will ultimately want to see some type of website.
You can also try sending mail to different lists that might need to sell their home lightning fast. Mailing is a targeted media and can generate some buzz. Taking time to develop a message to get their attention will be great once you get it down packed, but you need a way to filter quickly through the leads that are time wasters. There is no faster way to cool the steam of motivation than interacting too long with time wasters. They will eventually convince you that you are wasting your time, because they are just so hard to deal with and not motivated to work any terms other than theirs. You want the ones that say, “ok, we do we sign?”.
Placing newspaper ads is a great way to create a few deals, the only down side is when you stop advertising in the papers your leads stop coming in. You can test your ads in the major paper or the smaller community papers.
A website is by far the best way to generate leads almost immediately if you know how to market the site properly and get it listed in google and yahoo very fast. The good part is while you are waiting for google and yahoo to list your site you can do some things to get a moderate response.
Now that you have a deal, you need to sell it quickly.
Selling your deal/contract:
After you secure your deal you need to have buyers lined up ready to sell quickly. There are a few ways to build a hungry list of buyers ready to move on your deals.
Newspaper ads are a good way to attract buyers to any deal you may have. If you can get pass the cost then newspaper ads will create a good response. You just need to test a few different ads that will make buyers want to purchase your house.
Word of mouth might also work with selling a house fast. You don't have to limit yourself to only the people you know, you can get other people involved. Post a bulletin at on your church board or at work. The more places you post your bulletin the better chances you have a finding a serious buyer.
Website is considered the first place you want to send your buyers. Whether you are attracting rehab buyers or retail buyers you should be sending them to your website if they are on the internet. The best part is if you can some how manage to get your website listed on the first page of google and yahoo, you will have build a list of buyers that are ready and willing to put the deal in writing.
To get started you need to plan your best method to attract deals while at the same time build a list of buyers that want to buy any home that you come across. Setting up the whole plan could take some time, but once you get it where it starts to run itself all the work will have paid off.
Just know your budget and set some time aside each day to make your plan work.
If you don’t have the time or money to set up a website there are some paid ones that you can register for that will do all the advertising for you. Most of those sites will run you around $35-60 with a start-up fee of $199-1,200. Those types of sites are listed in good places on google and yahoo. They also offer an exclusive territory where you will be the only one receiving those leads.
There are also free sites that offer leads for investors looking for bargain deals. The free sites will offer the same leads to everyone that inquires about deals in those areas, so be prepared to have some competition with the free leads.
You can also set-up your own website. You can search for free sites and develop your own, because online presence is where it is at.
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