Simple Wholesaling Steps

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Simple Wholesaling Steps by Mind Map: Simple Wholesaling Steps

1. Step 1, Find Sellers

1.1. Zillow & Craigslist

1.1.1. Spreadsheet I use, Zillow Leads 03/24/2020

1.2. county foreclosures

1.2.1. Propelio | Real Estate Software to Buy More Houses | REI Websites, Comps, Lists & More

1.3. county tax liens

1.3.1. video for pulling foreclosures and tax liens in San Antonio Tax Delinquents & Foreclosures in Bexar County (San Antonio)

1.4. listsource.com

1.5. probate records

1.5.1. Propelio | Real Estate Software to Buy More Houses | REI Websites, Comps, Lists & More

1.6. absentee owners (landlords?)

1.6.1. Propelio | Real Estate Software to Buy More Houses | REI Websites, Comps, Lists & More

1.7. driving for dollars

1.7.1. Propelio | Real Estate Software to Buy More Houses | REI Websites, Comps, Lists & More

2. Step 2, What to Say to Set Appts

2.1. Direct Mail Letters

2.1.1. handwritten letters, example attached

2.1.1.1. or YellowLetters.com

2.2. Direct Mail Postcards

2.2.1. script for postcards

2.2.1.1. yellowletters.com

2.3. Cold Calling

2.3.1. script for coldcalling

2.4. Emailing

2.5. Texting

2.6. Lead Call Back Script

3. Step 3, Contract the sellers

3.1. What contract to use?

3.1.1. Trec or State Realtor Contract One to Four Family Residential Contract (Resale) | TREC

3.2. Attorney Approved Contract

3.3. For $25, I'll share the contracts I use.

3.4. What offer to make - Max Allowable offer ARV x .70 - repairs - your profit = Offer for wholesale deal

3.5. Max offer for buy and hold (or living in the house while rehabbing - ARV x .85 - repairs (no profit figured because you're living there and your profit comes when you sell at ARV or better :)

4. Step 5, Get contract to closing agent (either title co. or attorney)

4.1. Title Company

4.1.1. Which title agents are referred the most, go with them. Look up Casey Dehle on Facebook. She runs Atlas Transactional for contract coordination. Down in San Antonio, use Excel Title off San Pedro.

4.2. Attorney Closing

4.2.1. If no title insurance is needed, go with an attorney close. Usually much cheaper

5. Step 6, Market for buyers

5.1. Social media

5.1.1. Facebook, facebook groups, instagram

5.2. Direct Mail

5.2.1. run a list of absentee owners in the area

5.3. Absentee Owners

5.3.1. check (for rent by owners) in the area for landlords maybe looking for another house.

6. Step 7, Assign to buyer or fill out new contract for double close and get to title co.

6.1. Assignment Contract

6.1.1. Included in the $25 for my contracts, attorney approved.

6.2. Purchase & Sales Agreement

6.2.1. use a state approved Real Estate Agent contract if you don't have an attorney to consult about a contract developed for you. One to Four Family Residential Contract (Resale) | TREC

7. Step 8, if double closing, line up $$

7.1. Besttransactionalfunding.com

7.2. Private lenders

7.2.1. You can go through cash buyers in your area and get on the phone with them. They aren't going to lend on a postcard sent to them. They want to meet and go over your needs and how you can help them.

8. Step 9, follow up on closing and get paid!

8.1. Follow up with Title at least every other day to make sure nothing falls through the cracks and delays the closing