Many new wholesalers spent far too much time worrying about how they will find cash buyers once they have a property to sell. And unfortunately, there are equally as many seminars and websites that offer to explain the answer to the buyer or deal dilemma for a not so small fee. And once newbies fork over their hard-earned money, they are told the simple truth. Cash buyers are easy to find. Your focus should be on locating reliable deals.
But the misleading information that also comes from these how-to pros is that once you have cash buyers, the rest of wholesaling will fall into place. Sadly, that is not the case. It really makes no difference if you have the deal or the buyer first, what is essential is that you find a good deal. That is what takes skill and practice.
If you are fortunate, you will locate a cash buyer, which will help you in your search for a property. You can tailor your search to properties that fit into your buyer’s wheelhouse. It might be commercial properties, rentals, or single-family homes. But you will know what you are looking for and the price range that will most appeal to your buyer.
And once you hone your skills in locating and evaluating specific deals, you can create your niche as a custom wholesaler. What could make a cash buyer happier than knowing that you will do the leg work to find the perfect deal to meet all of his criteria? There is really not much more than a buyer can ask for from a wholesaler. So all of your hard work is rewarded with a very profitable long-term relationship and loyalty from your buyers.
So never waste too much time worrying about what needs to come first. Just be sure that you can complete the entire process and get a nice payday out of every deal.