If your thinking about getting into real estate wholesaling one of the critical factors is finding out the type of properties that your buyers are looking for. Many rookie real estate investors forget to ask the right questions to their buyers. Here is a list of the very important questions that you must get answers to from each of your buyers.
What area are you looking for homes in? Get as much detail as possible about the location where the buyer is looking to purchase a home. Keep in mind that many cities have transitional areas, try to find out exact locations or school systems that your buyers are looking to purchase in.
What price range are they looking for? This kind of speaks for itself, get the exact price range that your buyers are looking for. Make sure to pay attention to the cost of the rehab plus the cost of the home if your buyer has a limited amount of capital to spend work with.
What type of rehab are you looking for? Are your buyers looking for a complete remodel with structural, electrical and plumbing repairs, or are they looking for a home that just needs carpet and paint.
How soon are you looking to buy a home? Be sure to find out how soon your buyers are looking to purchase a home. The last thing that you want, is to be looking for homes right now and your buyers don't want to buy for another 6 months.
Getting the answers to each of these questions will be very crucial to your success in real estate wholesaling.
Eric Medemar is a real estate consultant from Grand Rapids, MI. Be sure to check out his FREE real estate investing guide as well as his Highly acclaimed real estate investing course where he will show you his easy to understand methods for investing in real estate without cash or credit.
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