How to be a SMART wholesaler: DEAL ANALYSIS IS KEY

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Agent bring the off market list. AZ airs okay. And he bought the land for like 125. And he’s a builder. I mean, this is my first deal. So the cop says 1.3 And that’s what he wants for off market but he has so much equity and I really don’t know how to go about it. I don’t have 1.3 to give him cash. I don’t know if it should be more we met that meeting with the agent and the seller for the first time on Tuesday. Okay, this is a great question. Everybody pay attention to this. I guarantee you’re gonna run into this in your business. What is Deuce not thinking of? Okay, what do you’re thinking of is oh my gosh, I have a potential deal.

All you’re thinking about is getting this under contract. Who’s the buyer for this? I don’t know. I was thinking possible. You know, you buy stuff in Arizona. I would never buy a piece of dirt brand. No, no, it’s not dirt. It’s the houses bill is the house there. He bought a house. Okay. Got the house already. Oh, I thought for some reason. You said the lot. He bought the lock for like 125. We talked a lot back in like 2004 and he’s built on it. He built the house to 15. So he had Okay, so this is not a this is a cash deal. It’s full retail. He wants full retail at $1.3 million. Kinda yeah.

He said he puts it on the market would be like 1.6 Okay, so he puts on the market at 1.6 He’s right, he’ll end up paying he’ll end up getting like 1.3 Okay, so if you get it under contract, who do you think is the buyer for a $1.6 million property or $1.3 million property now somebody was looking for Airbnb? I mean, has a full guest house. Okay, so do you know what the cashflow is on it? I did not have a spoke to the seller yet I just really cares about who cares what the seller has to say.

The seller is not gonna tell you what the cash flow is this is what I’m trying to get to what is the exit strategy on this deal guys pay attention to this and write this down do not ever get a house or land or anything under contract if you don’t know what the exit strategy is because what you’re gonna do is you’re gonna go get a contract and then next thing you know you’re going to be sitting there going oh my gosh, like what do I do with this? I thought I could find a buyer I know this is an Airbnb How do you know it’s an Airbnb? Airbnb is just kind of what I’m gearing towards what it sounds it sounds like an Airbnb.

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But here’s what I want you to do. Samir says it right here exit is more important than entry in my opinion. So what we’re saying is that you need to know the exit strategy before you go and figure out the entry. Okay? This is the number one thing wholesalers do incorrectly is they go get a house under contract without knowing what the buyer is going to make. So Deuce let’s say that I came to you and I go, Hey, man, I’m looking for a deal and you go Yeah, I just got a deal under contract $1.3 million dollars, and I go, okay, cool. Send it over to me. I’ll go what do you think is my cash flow? What can I do with this property?

I need to know those answers before I send it to you. Yeah, do you know it’s a deal if you haven’t done that? Okay, so there’s a really good look in the sidebar. I think you’re on your phone right now. Right now I’m on a computer. Okay, look in the side chat Darren Talcott gave you a link data dot Rob who.com is a great Airbnb analysis tool. It basically shows you what the House could bring in can you put the address in the side chat real quick to you privately or to everybody privately? Okay, you don’t have it under contract so let’s do it privately.