While many US housing markets are on fire in 2015, getting paid as a real estate wholesaler is all about getting the end buyers. So where are they?

Many individuals might be buying the media spin about declining foreclosures and default rates, but not the serious wholesalers with the real data. However, even though inventory may be plentiful, properties are selling in hours, and transactional funding allows real estate investors to scale instantly, the dots are only connected to the cash when the end buyers are lined up.

Obviously the challenge is that everyone is after the buyers. The solution is gaining referrals where others aren’t.

How about…

Probate Attorneys

Probate attorneys are sometimes sought out by real estate investors and wholesalers as a source of acquisitions. However, these professionals are also in touch with all of the heirs inheriting property and liquidating estates, and in course of other business – heads of estates who are often investors. Why not tap them for buyer leads?

Realtors

Okay, real estate agents may be hit up by investors and wholesalers all the time. But rarely are they approached in the right way. Offering 3% or more commission to a Realtor with a consistent volume of business, and in particular off market deals can leave them to focus on feeding you more buyers, and making your deals the ones they push hardest to their most qualified clients.

Mortgage Brokers

As with the above mortgage brokers are often sorely under tapped as a resource. Forget the refinance turndowns. They often make a lot more on purchase loans. They have great relationships with repeat buyers and end investors that are qualified and stuck until they can find deals to jump on.

Bartenders

Local bartenders are privy to so many conversations that others aren’t, and for some reason they are often perceived as trusted referral sources. Why shouldn’t the best bartenders in the best establishments in town have your business cards to hand out to those that are looking for property to buy at just the right moment? This is particularly true in gateway cities and tourist destinations where visitors don’t know anyone else and need answers fast.

Vacation Rental Owners

Building on the above; why not reduce the chances of missing out on leads in popular vacation and business areas by connecting with vacation rental owners, and corporate housing or extended stay operators, and leveraging them to market to business and vacation travelers who may be prime prospects for buying?

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

How can real estate wholesalers secure more probate and estate property deals?

As the market changes and there are fewer foreclosures, auction properties, and short sales available many real estate wholesalers are hunting for deals in new niches. Probate property and estate sales are often promoted as one of the options for sourcing motivated sellers. However, few wholesalers take the time to adjust their marketing to really connect with these sellers.

So what is it that those with inherited property really want and need? What will help them take the leap and lead to more offers being accepted?

As with many sellers in the market today there can be substantial disparity in perceived property value. Some may underestimate what their inherited homes may be worth, while others may seriously overestimate the value. Many may turn to easy to access online home value tools which can be wildly inaccurate. It can be worth the time for serious wholesalers to take a look at the most popular of these in order to be prepared, and be equipped to overcome objections. Many owners of these properties may also not be aware of the quirks of selling beyond what they see local comps selling for. For example; villas in hot senior areas like sunny Southern Florida may be in communities which come with five and six figure membership fees on top of the purchase price, or may be in older golf communities which aren’t as fashionable as they once were.

In many cases speed is vital. It is often more motivating for owners of inherited property than price. Family members often can’t afford extended time out of work, and high travel costs going to and from a property in another state for showings, etc. So can you pay cash, or use transactional funding to close in just a few days?

In addition to offering more value through clarity and simplifying the process of selling an inherited property, speed is important and a highly motivating factor due to ongoing holding costs, and the potential for devaluation. If there is a mortgage in place, past due property taxes, or condo and association dues a property can fall into foreclosure, or at least see net proceeds drop dramatically within just a matter of weeks.

Even more important than price and speed, can be connecting owners with help for sorting and dealing with personal items left in a property. Most don’t have the time to sort or get items ready for storage or have the bandwidth to ship a houseful of old items to charities. How can you help them by connecting them to these services?

Finally, when marketing to owners of inherited property consider the messaging differences which may be required. Will they be put off by promises of lots of money fast, and be drawn more towards those that offer respectful assistance in a difficult time, that doesn’t make them feel they or you are yet another vulture trying to pick the estate clean out of greed?

This can all be accomplished via direct mail, online, or via printed materials passed on through other professionals they might be coming into contact with.

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.