subject: Real Estate Investing Should You Find A Buyer First [print this page] Many beginners in the real estate investing business have been wondering if a wholesaler or a flipper should find a buyer first before finding a property. Well, theres no exact answer for this particular question because it really depends on the investor himself. If he thinks that finding a buyer first will make it easier for him to find a good deal, then he should do as he pleases.
There are a number of benefits to finding a buyer first before securing a property to be wholesaled or to be flipped. Here are some of them:
No more guessing games. Because you already have a buyer in mind, you dont have to guess the type of properties that your buyer wants. Your client can give you an idea on which house to look for so you no longer have to rack your brains out just to figure out which properties will make your buyers happy.
You can save a lot of time. Since you know exactly which property to invest in, you dont have to waste your time looking at other houses.
You dont have to spend sleepless nights thinking if youre going to make money from the real estate deal that you have found. This is probably one of the biggest advantages of finding a buyer first. Because you already have some sort of an agreement with a potential client, it can improve your chances of completing a deal and making money from it.
A warning for beginners in the real estate investing business, though. You shouldnt remain complacent just because you already have an end buyer and the property that you can flip or wholesale. There are some instances that a buyer backs out of a deal right after the wholesaler or the flipper secures the house that the former wants.
To prevent such occurrences from ruining your chance to make money in real estate, you should always have a back-up plan in case your buyer bails out on you. In addition, you should always be prepared and expect the unexpected. As the saying goes, prevention is better than cure.
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