Did 2 co-wholesales last week. 3 so far in June!!

Michael,
What an inspiration you are. Thanks for posting. I hope to get to this level of success one day.
Thanks.

The first key was building relationships with other ACTIVE wholesalers. This was achieved by going to every REI event and meeting I can find. By constantly running adds on craigs list and bandit signs. Then checking out their deals. If they have no property under contract I do not waste time with them until they do.

The second key is having a huge buyers list(over 2500)from which I have narrowed down to 20 active REAL cash buyers. I used most of all the techniques
that Dean teaches to find buyers. I still build my list at all times. I have WAAYYY more real buyers than killer deals. ALWAYS looking for wholesale deals in the Denver area. ( A clue for you deal finders!)

It's funny but my wholesaling associates NEVER need to provide a buyer for my properties. I just provide buyers for their properties and make easy money. They did all the work to find and put the property under contract, I just make a couple of calls and provide the buyer. Easy as pie.

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Did another co-wholesale Friday. Fellow wholesaler provided the property, I provided the buyer with one phone call. Made $2500.
The first two deals close the 11th and the 14th. This one is set for the 20th.
That is $7700 from co-wholesaling for June and it is only the 10th!!

Network, network, network. Marketing, marketing, marketing!!

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Great job, you are definately rolling.

Proud of you.

Sandra

3 in 8 days is one heck of a way to start the month off

You are the MAN

Michael!

every time I read your posts, I feel like a slacker! It takes me a whole year to do 3 deals!
I gotta do some wholesales!!! thanks for all your posts and motivation! You are awesome!!!

Michael...how are you protecting yourself in these co-wholesaling deals?

I work with people of integrity. I trust them, they trust me. I do not use a non circumvent with my buyers or the wholesalers. All know we are not in this for one deal. I go to the closings also.
My buyers know I have other sources than just the wholesaler that I am putting them together with for this particular deal. They are loyal to me. My deals are alway way better than my co-wholesales and they know it.
Neither party wants their reputation ruined.

Here is an excellent example of the integrity of my REAL CASH buyers:
I had a property under contract, I found that the structural repair was more than I originally estimated. The bank would not budge. I had a buyer interested but I ended up giving the property back to the bank. In this circumstance I am out of the picture. My buyer is trying to negotiate with the listing agent now. He called me, told me so and said if he got the deal he would still pay me a fee. He has purchased 6 properties from me in the last 10 months. Will he try and go around me or talk with a wholesaler that tries to cut me out??

Could I get screwed? YES!!
Could I get screwed with a signed non circumvention contract that screams I don't trust you in the first place?? YES!!

Once again, that's just how I do business

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

THANKS GUYS!!

Any one that wants to add co-wholesaling to their list of strategies should read Post #4

Good luck!

Michael

Thank you so much for all the information you give us on here.

If you did not know your Buyer that well, what type of contract would you suggest to market the deal and co-wholesale?

Thank you.

Dear Michael,

Thanks for the insight on this strategy. I never even thought of it, but I can surely see the beauty of it. How long have you been in the "biz"?

Barb

Nice Job Michael!!!

You have figured it out

Re-solutions,

I work out the contract details with my fellow wholesaler. They are the ones that control the deal. Whatever contract they want to use, I have my buyer sign it. Usually a simple one or two page Purchase contract.

Barb,

I have been full time less than three years. I work every strategy I can think of. I let the DEAL tell me what strategy to use. Some won't work as a wholesale but could go to one of my buy and hold guys. Or it could be a subject to or a L/O. Or I might take it down myself and do the rehab then retail it. WHAT FUN!!

Donna,

Thanks! I am always learning!

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

Thank you, Michael. I appreciate it.

You are SO right! I've actually come close on a couple of these in the last few months!

Your approach with the "no contract" method tells me that you gotta be from (or have ties to) Alabama. That's how we "good 'ole boys" do business done here! LOL!!

Keep 'em coming Mike...you da MAN!

We were close on the last one! You will be getting your little diamond soon. Keep building that buyers list. When you get that property we have to have some one to flip it to!!

Michael Mangham
Mentoring/Team building Nationwide
MD Home Acquisitions LLC

Keep it up! We love to hear about your success.

That is great and gives hope to all of us newbies.