Who’s the best house wholesaler in town? The one who networks well and is able to find wholesale houses quickly!
Networking effectively is a skill real estate wholesalers need to have in spades to source houses at discount prices. At the end of the day, it is how you build and engage your network that lands you the best houses in town.
Most new house wholesalers have never considered the plethora of networking opportunities available to them.
Here we look at ways you can network to find wholesale houses.
Build a Good Networking Team
To succeed at networking in the wholesale house business it’s necessary that you build a team with the right people. Your team should be trustworthy and competent people, who love to find a great deal and enjoy speaking with homeowners in your target area.
A good start is to hire honest, hard-working college kids to canvas neighborhoods and find wholesale houses. Beyond that, it’s not necessary that you directly employ people to do your networking for you. Hiring a professional property finder can be an expensive proposition.
Working in tandem with one or more partners is a good approach. That way you’re covering twice the ground or more. Most likely, you will have different strengths and connections that add up to greater than the sum the parts.
You should also work hand in hand with competitors around you. To get referrals for wholesale houses, you need to start by building an ecosystem. You should not only plan to get referrals but send referrals to others as well. It helps to set the criteria for the houses you’re looking for. Then you can pass the ones you find that don’t meet your criteria to other wholesalers who specialize in those types of houses.
Real Estate Agents, CPAs, Mortgage Brokers, Real Estate Attorneys and Trust & Estate Attorneys are all great networking partners.
For instance, the client you are working with isn’t sure about the lending process or the mortgage process. Knowing this, you can direct them to a trustworthy mortgage broker. That mortgage broker can send you potential clients for wholesale houses in the near future.
Create a Professional Website to Find Wholesale Houses
Real estate is rapidly shifting online. Traditional realtors have a hard time coming to terms with this fact, but real estate is not limited to brick and mortar stores anymore.
The popularity of listing and buying real estate online has much to do with speed and convenience. People know they can find what they’re looking for quickly on the Internet and it’s become the “go to” first stop for most real estate sellers and buyers.
A house wholesaling website must address two angles to be successful:
First, it should attract sellers looking to sell their properties quickly for cash. This means you must have content presenting the opportunity in yours specific target area to sell a property through you for cash.
Second, it should attract buyer / investors looking to purchase wholesale properties from you.
Your website must be keyword rich, trustworthy, and make it easy to contact you. If you get these things right, your website will become a primary source of new wholesale house leads. It will also help you build a network of investors so you can turn over properties fast and generate significant profits.
Use Social Media to Find Wholesale Houses
As a continuation of the previous point, we believe social media is just as important a part of a great Internet strategy as your website.
You can create a strong presence in your market on sites like LinkedIn, Facebook, Instagram and YouTube.
Video marketing, in particular, is very powerful.
The great thing about social media is you can directly interact with buyers and sellers and set up deals for wholesale houses.
Social media is also great for generating testimonials and referrals. By simply direct messaging the individuals in your network periodically and asking for referrals, this can produce a stream of new wholesale house opportunities.
In fact, you can create your digital ecosystem by merging both social media and website creation to get the best out of the process. Build connections and networks through social media, and then link them to your website for potential selling opportunities.
Attend Industry Events
With the popularity of social media one might think that traditional meet and greet events, including industry events, must have lost their charm. But, that isn’t the case.
Traditional real estate investment conferences are heavily attended by big wholesalers and investors. These events are great for making personal connections, learning how successful people do it, and finding referral partners to work with.
If you have been working in a specific area for quite some time, you ought to attend the industry events in your area. These can be as simple as monthly Meetups, or big annual conferences.
Focus on Your Local Community
Build a rapport within your local community and meet and greet people.
What’s the best way to focus on your local community?
- Sponsor local festivals, school events or sales
- Drive and walk neighborhoods regularly
- Let homeowners know you exist and are looking to help them sell their house quickly
- Advertise on local media and radio to create a brand.
Hopefully this has given you some idease to find wholesale houses and grow your business!