For Real estate investors and Hard Money Lenders Arizona, working with wholesalers is an easy and efficient way to find great properties to invest in. So connecting with wholesalers is a necessity for real estate investors who may be looking to buy, flip, rent or do any real estate investing in Phoenix. Hard Money Lenders Arizona, making finding amazing wholesalers easy, and break down what you need to know about wholesaling. By working with your local wholesaler you can increase the likelihood of finding quality properties to invest in.
What is a Wholesaler?
Investopedia states wholesaling as “The goal in real estate wholesaling is to sell the home before the contract with the original homeowner closes.” Similar to house flippers in Phoenix, the wholesaler finds and contracts properties to sell, AS SOON AS POSSIBLE. Homeowners will sell their houses to wholesalers on the promise that their home will be sold quickly, and with less hassle or fees as using a realtor.
Why You Should Work With A Wholesaler?
Wholesalers area great resource for real estate investors, as they have access to properties that are undervalued, and are looking to move quickly. With more homes being added to the Phoenix market faster than ever, competition to find and turnover properties are on the rise! Wholesalers also have buyer lists, which for them, simply means that these are motivated buyers looking for properties. Hard Money Lenders Arizona is always keeping an eye on the buyer’s list, as it helps keep them alert to potential deals to fund. Buyers lists are a great resource for anyone in the real estate community, as it helps build valuable connections of the movers and shakers of the industry!
Building a Wholesaler Relationship
When you meet with your wholesaler for the first time there are some things you should know to get the most for your time. First off, You should have an investment plan in place. Make sure you know what kind of investment you want so the wholesaler can show your properties that fit your needs. Secondly, you should have a budget in mind, again, so that the wholesaler can show you properties that fit your plan. Third, ask questions, and listen. Learn about the type of properties they wholesale, how you can build a business, and see if you can be a regular, which can be beneficial down the line. By continuing to build a relationship with your wholesaler you can increase your chances to be the first draft when a perfect property gets added to their portfolio.
Finding A Investment In A Wholesalers Portfolio
Wholesalers want to help you succeed, but there can be a lot of properties to choose from in their list. If you are ready to invest with a wholesaler, sorting through the list will help you stay on track for your investments. Sorting through the available properties will make it easy for you to make moves on the properties you know will have high ROI. Do the Following to help sort through your wholesaler’s list!
How are the schools, is this a good market, how well are other houses selling here? See how many houses are on the market, and what the largest demand is in this area.
How close are highways and business centers? How far of a commute would the potential buyer have to make to this location? Is this property going to be rented, or flipped as soon as it goes up, or will it sit vacant?
The wholesaler, and your hard money lender Arizona, should be able to tell you how many repairs the properties will need. Is the After repair value worth the repairs that are needed?
How long has this property been on the market? Wholesalers houses sell fast, so you want to make sure that you can be the first to make an offer in order to get the perfect flip! If the property has been vacant or on the market for a long time, there may be a reason that other investors are avoiding it.
After the property purchase, how much will the repair cost? If your house is perfect but has large repairs that could kill your budget to make sure that you have your funding in place before you make an offer! Don’t let a small budget get in the way of your flip or investment. Our hard money loans are fast to approve and ever faster to fund.
How to Find a Wholesaler
Finding a great wholesaler will make finding properties easy, so having one in your network is key! Finding great local wholesalers is very easy to do. In fact, a cursory glance at any social media network can reveal dozens of great wholesalers. Check your facebook groups, Instagram, and timelines to see what current deals your wholesaler has. Don’t be afraid to reach out to them and see what deals they may have. If nothing fits you right now, just ask to be added to their buyer’s list so that they will alert you to any hot deals they have on the market!Make sure you have funding lined up for your investment property with Hard Money Lenders Arizona. You can also attend network events in your ideal markets, like open houses. You never know who you will meet or what you will find.
How To Fund Your Flip
Hard money loans are vital for real estate investors looking to create their own revenue streams and profit. Hard Money Lenders Arizona, like Prime Plus Mortgages, make finding funding for your investment easy. Hard money loans are flexible, fast, and hasslefree, because as real estate investors we understand the importance of getting funding when you need it. The hardest part of real estate investing shouldn’t be funding, so we simplified our application and approval process to take as little as 2 minutes. Hard Money Lenders Arizona offer fast turnaround, minimal paaerwwork, and can help you be funded within 2 days or less. Learn more about our hard money loans, and apply today!