The Real Estate Investors Wholesaler’s Checklist

The Real Estate Investors Wholesaler's ChecklistWholesaling & real estate investing is a niche that satisfies the investor’s short-term profit goals.  It can be lucrative, but it does carry more risk than long-term rental home investing.  The risks involved can be reduced by following a few simple but very important rules.  Here is the checklist.

Know your market: A thorough knowledge of your market area, home prices, neighborhood characteristics, rental demand, and tenant demographics is necessary for success.  You will need to meet the requirements of your buyer customers and to do that you’ll need to know what they plan on doing with the property and their profit needs.

Know your customers: As a wholesaler, you’re flipping the homes quickly, and usually, your buyer will be another investor.  The rental investor will want a home that’s rent-ready, one with the features area renters want, and at a price that’s discounted below current retail market value.  If your buyer is a fix-and-flip investor, they will often be selling to a rental investor, or they may be selling to retail buyers.  Either way, to understand how to meet their needs, you’ll need to understand their buyers’ or renters’ requirements.

Build a strong buyer database: You never want to negotiate a deal on a home until you have one or more potential buyers you know will have an interest in it.  Join a local real estate investment club, network in real estate circles, and do some marketing to get your name out there to connect with rental and fix-and-flip investors.  Just names and contact information aren’t enough information if you are serious about real estate wholesaling success.  You want to have notes about each buyer, their primary interests for property characteristics and neighborhoods, and their profit requirements.

Become an aggressive deal-finder: Profitable wholesale flip deals will not just fall into your lap.  You’re going to have to learn how to research your market using various sources for distressed homes or sellers.  Your competitors will be using those same sources, so you also want to become a smart marketer to locate properties.  You can use a combination of print media, social websites, your own website, and networking to locate distressed sellers.  The better you are at attracting the business to come to you, the more profitable deals you’ll close.

Learn to back into the purchase price: Start with your buyer’s requirements and an estimate of what a prospective property will be worth to them.  Once you know approximately what you can sell it for, you can work backward to a purchase price for the home that allows for your expenses and profit margin.  Once you have this information, you can negotiate with confidence with the seller.

There is a lot to learn to become a successful real estate wholesaler but starting with this checklist, you’ll have the basics in place.  Then fill in the blanks with education and experience for amazing short-term real estate investment profits.

Are You thinking of buying a Home in Tampa Bay?

Use our site to search homes for sale in Tampa Bay and all of our surrounding areas. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated EVERY HOUR. By creating a Property Manager account you can stay on top of the newest homes for sale and get Price Change alerts so you can stay ahead of other buyers and beat them to the BEST deals!

In the meantime, check out these 1 click searches:

**Discover Your Dream Home in Ybor City!** See 3D Walk through and Video tours!

Welcome to this beautifully remodeled modern turn-key bungalow, nestled in one of Tampa's most vibrant and historic neighborhoods. This gem is located in an Opportunity Zone, offering not just a stunning home but a fantastic investment opportunity. Situated close to Armature Works, Ybor City Historic District, Channel District, Downtown Tampa, and Seminole Heights, this home provides easy access to shopping, dining, highways, and public transit. You're also just a short ride away from some of the world's most beautiful beaches. International Plaza, Raymond James Stadium, and the Tampa International Airport are a mere 13 minutes away!

The home features a huge front porch perfect for relaxing and socializing. Recent upgrades include a new roof, a/c, and windows installed in 2021, along with an updated bathroom and kitchen boasting contemporary finishes. Newer flooring and tall ceilings enhance the spacious feel, while indoor laundry adds convenience. A freshly installed fence ensures privacy and a bonus shed provides additional storage space.

Ybor City is a hotspot in the Tampa real estate market, renowned for its rich history, cultural vibrancy, and rapid growth. The area is buzzing with new developments, making it a prime location for future appreciation. This property is ideal for use as a primary residence or a vacation rental, given its close proximity to Tampa's top attractions. Secure this property now before prices soar.

Don't miss out on owning a piece of Ybor City's charm and potential. This home is ready for you to move in and start creating memories. Act fast – this opportunity won't last long! Don't forget to ask about downpayment/closing cost assistance available NOW. $269,900 Active

2922 Ybor Street Tampa, Florida

3 Beds 1 Baths 1,015 SqFt 0.080 Acres

Discover this charming 2-bedroom, 1-bath home in Tampa, featuring a durable metal roof and inviting front and back porches. The property boasts two carports and an expansive 30x42 workshop, complete with two bays, a golf cart bay, power, an electric two-post hoist, and a 9k car cable winch, perfect for car enthusiasts or hobbyists. Located near the beautiful Gulf Coast beaches, you can enjoy fishing and swimming just minutes away. Additionally, this home offers convenient access to the University of South Florida, Busch Gardens, the zoo, and the aquarium, making it an ideal location for both relaxation and entertainment. $279,900 Active

2408 S 66th Street Tampa, Florida

2 Beds 1 Baths 976 SqFt 0.190 Acres