Flip Tip Summary
For many new wholesale real estate investors, there’s a misconception of how well you need to understand rehabbing houses. Even if you don’t plan to rehab yourself…your customers do. If you don’t understand this, you risk damaging your name in your market, as many prospective buyers will not even consider your deals anymore, as they simply won’t trust your numbers. Rich Urban shares with us the importance of accuracy in your numbers, so you can sell your houses quickly, and build up your own personal brand.
Flip Tip Transcript:
Mike Hambright: Hey, it’s Mike Hambright from FlipNerd.com and we have a quick V.I.P. tip to share with you from Rich Urban, who’s going to share a tip on how to sell your wholesale deals fast.
Rich Urban: For me the most important thing when you’re trying to sell a property is making sure that you’re honest when you’re sending out your property values, for one. Also, when it comes to rehab expenses, make sure you make that honest as well. All the numbers have to be correct because when a rehabber is looking for what deal they’re going to do this month, they want to look through and see, “OK, this is what it’s going to cost me to repair it and this is what I’m going to make on the deal.”
I guarantee, two times tops and if it’s a bunch of B.S., they’re never going to open your emails again. So, even if you have the best deal in the future, you’re never going to sell a property to anyone locally if you are not always honest and consistent with your wholesale deals.
Mike Hambright: Thank you for joining us for another Flip Nerd V.I.P. tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
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Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.