I talk to a lot of new people who always ask me,
“Nick, how do I maximize the showings of the houses I’m wholesaling so that I don’t have to show it so many times and piss my seller off?”
That’s a great question…
The answer is that you have to qualify your buyer for that house…
There are multiple ways to PRE-qualify a buyer, but I want to show you one key way to qualify them for a specific house.
Here it is:
Tons of photos.
Yes, it’s simple, but super effective.
Nowadays, everyone has a camera on them at all times with smartphones.
There are NO excuses for not getting tons of great photos.
When I first started doing this, I would have to bring my digital camera.
Then I would take a bunch of photos.
Then I had to go home and upload all of the photos onto my computer.
Then I had to email them to my buyers.
WOW! The thought of all that work makes me start to sweat 🙂
Seriously though, you have to take as many photos as possible (exterior and interior) so that your buyer knows exactly what the house is like.
This way, if he still wants to see it, he just wants to verify that it’s everthing in the photos, and then he will most likely buy it.
This is how you can get a good feel for about how much you think you’ll make on a deal before the buyer even walks through.
If he sees all of your photos and tells you about what he’d pay, you’ll know about what he’ll offer you after he walks through, give or take a few bucks.
I actually like to kind of confirm with them over the phone by saying something like this, “if you walk through and verify all of the photos I sent you and it’s pretty much what you expect, you’ll most likely be able to pay $75,000, right?”
They never want to say anything is for sure, but a lot of times, they will say that it’s very likely.
Even if you send them 500 pictures covering every square foot of the house, they still will want to walk through. I don’t blame them.
I will say this though…
As you develop relationships with some key buyers, they may buy them off of your photos, once they trust you. I wouldn’t count on it anytime soon though.
Make sure to take as many photos as possible…It will save you, your buyer, and your seller’s time because if the buyer is qualified for the house after he sees photos, the likelihood of having to set up lots of different showing times will be a lot lower, which will make everyone happier and you will be that much closer to a closing table with your profit in hand.
So, now that you know how to wholesale a house to a qualified buyer, get out there and take some action!