You have established a database of buyers and now you have filled an order for the buyers in your database who indicated they want to buy this type of property.
Now you have to tell them about it. You have to sell it to the current owner gets his price, the buyer gets a great deal, and you make a wholesaling fee – your Profit!
Remember this classic description by Bill Cosby: “If you give me a prime rib complete with a potato and sour cream and chives and a side salad served on a trash can lid I won’t want what you are offering me. However, if you present this same meal to me on fine china and silverware then I will want what you are offering.” When wholesaling you want to create an investor package that showcases your wholesale deal. It should appeal to your buyer(s) enough that they will want to purchase it.
I suggest creating a brief portfolio with photos, a written description of the property and the surrounding area, and a pro-forma projecting financial results for the buyer of this property.
You can initially create a flyer to pique the interest of several buyers and only provide the portfolio to the buyer who is interested. You will want to showcase this juicy deal on your website and even post on Facebook and LinkedIn to attract buyers. There is also a free system called Postlets which you can use to drive buyers to your website in conjunction with other social networks.
If you have done a good job building your database of buyers, found and secured a great deal, then built an appealing presentation and communicated it to your buyers, then you should make a profit for all of your efforts.
This is important: if you are a licensee and you are going to wholesale, I highly recommend you set up an LLC to do that, particularly if you are in a state that does not allow net listings.
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