Real Deal REInvestor Network

Everytime I hear someone say, "I'm a wholesaler", I think of single family houses.  Mostly, I think of ugly single family houses that need repair.  I must confess, I've never wholesaled a property.  It always seemed like a lot of marketing time and effort to find the deal and find the buyer for a couple of thousand dollars.  And the part that always held me back was this technique requires consistent and significant attention to make money.  It always seemed more like work than investing.  My recent need for cash has me looking at wholesaling from an entirely new perspective.  Why not wholesale multi-family properties?

I must confess, this idea is not an original.  If fact, it was fostered and developed by Rick Melero.  I would like to share what this looks like and why I've chosen this as my secondary area of focus.  Using some of the same wholesaling techniques, I am identifiying cash buyers for properties with 2+ units up to 12.  Once identified, I will reach out to them and find out their criteria and interests.  Really, there is no difference in building a buyer's list between single-family houses and multi-family housing. 

With a little market research and building my buyer's list completed, it's on to finding the properties.  There's the usual suspects - MLS, out of town owners, housing court.  Tracking down the actual owner may be more challenging as many of these properties will be held in an LLC or some other legal entity.  No worries, we'll track them down. 

So you might ask why?  These very same cash purchasers of multi-family properties understand the concept of cash flow.  These very same people often invest in much larger projects (which happens to be my primary area of interest).  Not only am I building a wholesale buyer's list, I am also building a list of private lenders or future equity partners.  Now that's what I call doing the work once and getting paid twice.  Thank you Rick for helping me get clarity on wholesaling multi-family properties.

Dana J. Lange
Millionaire in Training
www.MMMChallenge.com