As you know by now real estate investing by wholesaling and flipping houses is one of the fastest and most effective ways to get involved in real estate for profits. There are plenty of great deals to be found once you know where to look and how to lock them up. However, the real key is having qualified lists of buyers that you can call on to unload your real estate investing deals to quickly. Clearly having several great deals under contract does you no good unless you are able to cash them out and gain profits. This is why real estate education is so important. Learn how to find, screen and pre-qualify and even train your buyers.
However, the first the thing you must do is to identify the 3 main categories of buyers for your wholesale real estate investing deals. This is buyer triage! Just like on the battle field, where patients are categorised into different groups. When you are wholesaling and flipping homes under contract there are 3 types of buyers that you can offer your deals to with varying amounts of profit.
Resellers are others actively involved in real estate investing who are looking for wholesale deals but often do not have the time, knowledge or resources to get the deals you do. These buyers are great for flipping homes to quickly and often are the most qualified and reliable as the know the process and have funds to close. They also represent the smallest profit margins, but will take your properties as-is.
These are buyers whose real estate investing strategy involves rehabbing properties either to rent them out themselves for positive cash flow or to resell at top of the market prices. Those that plan to rent them out themselves can be great, steady buyers for your real estate investing business.
You will also no doubt come across dozens of retail buyers while conducting your real estate investing marketing who are looking for homes that they want to live in themselves. These buyers who are willing to do any needed repairs themselves offer the largest profit margins. If done right you can also set yourself up to find properties that are already pre-sold to these types of buyers, creating instant profits from real estate investing.