Manage episode 332574364 series 3298169
We decided to move from Texas to Arizona to be closer to Dani’s family and quickly found out sub to wraps were a pain in the neck to get done. We got one deal done and it was a total pain. So we moved into wholesaling! We share some stories and explain how we approached it differently than the other wholesalers in the Phoenix market. We also give a pro/con list and the 5 category break down with a bonus category today.
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Alright, so we're gonna go through our top five.
1) Risk tolerance? Yes, there's a risk here, yes, you can get in trouble, especially with the Board of Realtors really cracking down on wholesalers these days.
2) Time availability? Yep. You need time, especially to find, research, and negotiate the deals, plus time for marketing in order to find a buyer.
3) Knowledge? You need to know how to do the deals and have the right terminology and right paperwork.
4) Inner Circle. Yes, attorneys, title companies, the buyers, that’s the biggie.
5) Access to capital? Yes, some capital to run the business as you ramp up but not necessarily to purchase properties.
6) Bonus. Location. We are including this one because we were doing sub to wraps, and all of a sudden we moved to Phoenix and it was a big pain in the butt to do sub to wraps. You need to be a chameleon. It's not only the location, but also the market you are in.
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