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By: Stephen Cook
I have been asked numerous times about how I get buyers
into a home that I’m wholesaling. Well, I’ve decided
to finally put some tips into real estate investing
articles to show you the numerous methods that have
worked for me.
First, let’s look at the fears that wholesalers have
about the buyer being in the wholesale house. Most new
wholesalers are worried about the buyer and sellers
meeting and possibly arranging a deal on their own.
Similarly, the wholesaler may worry that the sellers
may find out that he is marketing the property to someone
else. If the wholesaler is dealing with the right real
estate (meaning the sellers are motivated), they are
not looking to make the wholesaler’s life difficult.
Instead, they want to make life easier on the wholesaler
and get their property sold.
Second, buyers don’t need to know about the wholesaling
deal. I buy real estate site unseen all the time, and
many of my buyers will do the same, but not all of them.
In the cases when buyers will not buy site unseen, here
are ways that you can get them into a house:
- After your contract is signed, there are numerous
reasons why you need to get back into the home. These
reasons could include having partners, appraisers,
lenders, contractors, and inspectors see the home.
You can add a clause to your contract that will allow
this or you can simply ask for permission after the
fact. I have NEVER been denied access to a home after
it was under contract.
- If you use a realtor to purchase the property,
you can tell the realtor that you need to get into
the property and have my buyers there when the realtor
lets you in. I once had an open house where 15 buyers
were sitting outside waiting for my realtor to get
there. It was a bit of a fiasco, but it all worked
out and I sold the home.
- Many vacant homes have easy access – meaning, that
doors and windows are open or missing. I’ve walked
into vacant homes and so have my buyers. Although
this isn’t always a safe thing to do and I’m not recommending
to “leave things open”, it’s a possible entry into
the house. So if you happen to see a property open
and you’re the legitimate buyer, it’s unlikely that
you will have problems if caught in the house
.
- Lock boxes are wonderful things. These gadgets,
normally hanging on the front door, allow an owner
to permit access to the home without actually having
to show up and let someone in. If you are given the
combination, you can access the front door key in
the lock box and get into the property. If you don’t
know the combination, ask if you can have it. Also,
consider putting your own lockbox at the house. Ask
the seller if you can put it on the door to allow
your contractors, appraisers, lenders, etc to gain
entry.
There are many ways to get into homes. Just be creative
in your real estate investing ventures. I have even
had my realtor list me as an assistant which allows
me to go see homes and, if I get questions, I simply
say that I’m with the realty company and no one asks
anything further.
I hope this helps. For more real estate investment
advice, read all of our articles.
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About the Author: Steve Cook
Since 1998 Steve Cook has flipped hundreds of
houses as an active Baltimore-area real estate
investor. Steve’s unique specialty is the “flipping
homes 1-2 punch”, a proven system of real estate
investing that powerfully combines wholesaling
and rehabbing
houses. Also the founder of www.FlippingHomes.com,
Steve is dedicated to helping others in this thriving
online community succeed through understanding
and aggressively applying his time-tested, step-by-step
approach to flipping
real estate.
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