Double Your Deals This Month: Why Landlords are a Wholesalers Gold Mine
What's going on my friends? It's your boy Justin Wilmot.
You want to get the biggest potential profit out of every deal, right? I know you do.
But the only way to get the MOST CASH out of each deal & in your bank account is to work with the RIGHT type of buyer – the Landlord Cash Buyer, or LCB’s as we call them here.
To make that happen, to get those CASH rich LCB’s chompin’ at the bit for your deals - you’ve got to know where & how find them.
Can you get those buyers in your market?
For sure! You just need to follow some real estate wholesaling tips for I’ve got for you to implement along the way to financial freedom – what we call the Freedomaire’s journey.
So, I wanted to talk to you why landlords are goldmines for real estate wholesalers. Actually hold on. Before I get into that, in case anybody reading this does not know me.
Again, my name is Justin Wilmot, known as the 10 hour wholesaler and the lifestyle real estate investor. I've been flipping houses for the past eight years. Bought and sold millions of dollars worth of real estate.
Don't claim to know everything, but I know a whole heck of a lot in wholesaling, that's for sure. And on the daily I come by and give everybody tips and tricks on what they can do to gain financial freedom wholesaling houses.
#1 Reason Landlords Are Goldmines
So, one of the most important things about wholesaling houses is buyers, right. We got to have good buyers. And those buyers would be landlord buyers.
So landlords are goldmines for us for one main reason.
And that reason is, they pay more money.
Why do they pay more money? Because they don’t fix or flip.
Well, because by essence, by the name of a fix and flip guy, right.
A fix and flip, they need to buy a property from a wholesaler, so somebody that has a property under contract and they're going to flip it.
They need to buy it from you at like 70 cents on the dollar worse case scenario, preferably 50/60 cents on the dollar.
That means you as a wholesaler needs to get that property under contract for 30/40/50 cents on the dollar, okay. If it's worth 100 grand, that means you got to get it under contract for let's say 50 grand, in order to get in the hands of a fix and flip guy for 60 grand, so that you can hopefully make $10,000.
Now in the real world it doesn't always happen.
Meaning there's going to be issues.
The buyer's probably going to negotiate, unless it's a smoking hot property in a smoking hot location.
So, if a fix and flip buyer comes to you he's going to want it around that value right, 60/70 cents on the dollar, in a good neighborhood.
That means you got to get it under contract for a really dang good price.
Landlords are not necessarily that situation, especially current market landlords, meaning what I'd define as a retail cash investor or RCI.
An RCI is somebody whose recently made a decision to put their money into real estate over leaving it in the stock market. Meaning they've been getting good gains.
Right now, the time of this writing the markets have been rallying and rallying. So people are seeing huge dividends, and they want to take that money and they want to shove it into a hard asset.
They want to shove it into real estate.
As wholesalers we want to help people do that, so that becomes our ideal client.
You find that buyer, you find about three or four of them, your life will change, period.
You wholesale properties to landlord buyers - things become a whole lot easier.
Now, you still got to go through the acquisition sides, right?
It's not all roses.
You still got to do what you got to do in order to get those properties under contract, but it's a lot easier to get a property under contract.
Let me ask you, do you think it's easier in a seller's market to get a property worth $100k under contract for $50,000 or $70,000?
Right, of course it’s easier to get it under contract at $70k!
Not a whole lot of people are going to give their property away for 50 cents on the dollar in a seller's market.
This is Why Landlords = Goldmines for Wholesalers
But it is easier to get a property for 70 cents on the dollar, or 75 cents on the dollar, or even 80 cents on the dollar?
Now why in the world would we go and put a property under contract 80 grand, and who are we going to flip it to?
We're going to flip it to a landlord.
See if we get a property under contract for $70,000, it's worth $100,000, it is absolutely worth $80,000 to many different types of landlords out there.
Because in most markets, especially good neighborhoods, they can't get inventory, they cannot build their portfolio.
Landlords, they're making a living and they're building wealth by acquiring real estate right now.
If they can't acquire real estate they're not adding to their net worth.
So, simply connect the dots.
Find these guys. You find these guys, my friends, and everything becomes a whole lot easier to you.
So when people ask, where do I start?
I always tell people, start there.
Find the landlords.
Join the landlord associations.
There's a handful of ways to do it.
We talk a lot about the Freedom Moguls movement.
I do a lot of coaching in there, I do a lot of helping.
There's a huge community in there of people giving each other assets, giving each other things to ... resources, where they found buyers.
People have virtual assistants that have recently helped them.
Join the Freedom Moguls community if you like, right. It doesn't matter to me. It doesn't change my life, but it'll change your life, it'll help you.
Join the mobile wholesale community. It's like 97 bucks a month and you're getting coaching from people that are flipping millions of dollars in real estate.
I'll make sure we provide a link below.
But we talk more about where to get those landlord buyers from, these retail cash investors, all the time.
It's a topic of main concern. We also do weekly live coaching calls in the Freedom Moguls community. You can ask me live questions there as well.
We share information about how to find those landlords.
How are we going to get them?
Where are we going to get them?
What do we say to them when we find them?
So just take that away today.
If there's one thing you're coming into this going, "What should I do? What is the number one thing that I need to do?"
Do whatever it takes to find a few landlords. If you even just talk to one or two it can change your life.
Hell, I tell the story ... After my first property that I flipped to a guy that was a fix and flip guy, my second, third, fourth, fifth, sixth, seventh, eighth, ninth, tenth, that property was all to the same guy who was a landlord who just wanted one specific criteria and we just kept flipping deals to him.
So guys, let's just keep it simple.
Real estate, there's a lot of things going on in real estate, but if we just try to keep it extremely simple you will see results.
Less information, right, less looking around trying to figure things out and trying to look at different methods.
If you've planted your flag in wholesaling houses this is still to this day the easiest way I know to make $10,000, $20,000, $30,000, $50,000 paycheck, wholesaling houses. And you can do it.
Anybody can do it.
You don't need anything. There is no criteria.
I flipped my first house with zero money, zero out of pocket, zero experience.
So this landlord buyer, right, will help you do that.
3 Ways to Find Landlord Buyers for FREE
And guys you can find them for free.
#1 They're on Zillow.
#2 They're on Craigslist.
#3 You can contact property management companies.
There are many ways to find these people. Cold call them.
Use the script that we provide you guys, (if you join the Freedom Moguls Alliance) and then just give them a call and see how you can help them.
Once you find exactly what it is that they want, we go out there and we start marketing for that product and we put that product under contract, and assign or flip it over to them.
All right. I hope that helps guys. And use that information guys.
Go out there this week and get those landlord buyers. Take those tips.
Keep your focus on just that one simple thing.
By next week you'll be even more clear on what to do, because you're going to know exactly what you are looking for. And what you're looking for is what your buyers are looking for.
Hey guys, to freedom.
You guys have a good one.
I’m looking out my office window here at Freedom Moguls headquarters & there's a good wave coming through right now off the pier. A little choppy, a little blown out, but not bad. One guy out, one long boarder. Hmm. To surf or not to surf today is the question. Thanks for reading, appreciate it. And you guys have a great day. Talk soon.
- Justin Wilmot