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Ever wonder why some wholesale deals attract multiple offers while others can't find a single buyer? The answer isn't just about having the right buyers list—it's about understanding what end buyers truly want and structuring your deals accordingly from day one.
I recently locked up two properties that seemed promising but ended up canceling both contracts after failing to find buyers. The first property in North Carolina had fire damage that was far more extensive than the seller initially represented. My mistake wasn't talking to the wrong buyers; it was failing to ask the seller enough questions during acquisition. Had I dug deeper, I would have discovered the true condition required a price point far below what I had negotiated.
The second property was a seven-bedroom house in Cleveland with rooms rented individually. The numbers looked fantastic—100% occupied with strong cash flow. I assumed investors would jump at the income potential, but I overlooked crucial factors that end buyers consider non-negotiable: equity and renovation needs. Despite the impressive income, the property was priced above market value and needed work. Investors weren't willing to overpay, even for great cash flow.
These experiences taught me that successful wholesaling requires balancing action-taking with strategic acquisition. While beginners should focus on talking to sellers and getting contracts, long-term success demands understanding the complete ecosystem of your market. Ask meaningful questions about the seller's situation rather than just property details. Consider all factors that influence buyer decisions—not just the obvious ones. When you truly buy where end buyers buy, you'll set yourself up for larger assignment fees, faster closings, and a reputation as someone who consistently brings value to the market.
Have you experienced similar challenges in your wholesaling business? Share your experiences in the comments and let's learn from each other's journeys!
By Dale KernsEver wonder why some wholesale deals attract multiple offers while others can't find a single buyer? The answer isn't just about having the right buyers list—it's about understanding what end buyers truly want and structuring your deals accordingly from day one.
I recently locked up two properties that seemed promising but ended up canceling both contracts after failing to find buyers. The first property in North Carolina had fire damage that was far more extensive than the seller initially represented. My mistake wasn't talking to the wrong buyers; it was failing to ask the seller enough questions during acquisition. Had I dug deeper, I would have discovered the true condition required a price point far below what I had negotiated.
The second property was a seven-bedroom house in Cleveland with rooms rented individually. The numbers looked fantastic—100% occupied with strong cash flow. I assumed investors would jump at the income potential, but I overlooked crucial factors that end buyers consider non-negotiable: equity and renovation needs. Despite the impressive income, the property was priced above market value and needed work. Investors weren't willing to overpay, even for great cash flow.
These experiences taught me that successful wholesaling requires balancing action-taking with strategic acquisition. While beginners should focus on talking to sellers and getting contracts, long-term success demands understanding the complete ecosystem of your market. Ask meaningful questions about the seller's situation rather than just property details. Consider all factors that influence buyer decisions—not just the obvious ones. When you truly buy where end buyers buy, you'll set yourself up for larger assignment fees, faster closings, and a reputation as someone who consistently brings value to the market.
Have you experienced similar challenges in your wholesaling business? Share your experiences in the comments and let's learn from each other's journeys!