Wholesalers find off-market properties, gain a contract, and then make a small profit by flipping the contract or selling it to an investor. Typically these properties are distressed, and the owners are motivated to sell as they have fallen on difficult times, and the property has degraded into a state of disrepair. Once they’ve located the property, the wholesaler contacts the owner, delicately negotiating for a contract with a price that allows investors like you to profit from the arrangement. Years of experience enable professional wholesalers to approach sellers from all walks of life under highly emotional and stressful situations, offering a workable solution to their problems.
Investors who realize the value that wholesalers bring to the table can benefit significantly from this symbiotic business relationship, which brings us to the next challenge, choosing a wholesaler to help bring the plans for your real estate investment business to fruition. With a wholesaler, you can rely on a steady source of investment opportunities, along with the details of the costs and time involved to rehabilitate the property. In addition, the footwork that a wholesaler does saves you valuable time, energy, and money that you would have spent in searching out properties at the best price to enhance and quickly grow your portfolio holdings.
Read on as we explore five things you should look for when working with a Long Island wholesaler to expand your portfolio.
A vast array of highly reputable resources takes years to build through networking as a wholesaler, these strong connections between professionals signify stability, reliability, and trustworthiness. A professional wholesaler who willingly shares their resources with you as the investor is another thing to look for when working with a Long Island wholesaler to expand your portfolios, such as the best lenders, contractors, and other service providers the industry that are integral to real estate investing.
Because wholesale properties typically sell in an as-is condition, you’ll be taking a significant financial risk based on the trustworthiness of the data, so ultimately, the decision to buy is yours. An essential aspect of what you should look for when working with a Long Island wholesaler to expand your portfolio is their consistency in providing thoroughly researched and detailed reports on the property. Of course, as the investor, you should still perform due diligence and verify the information. Technology provides today’s investors with convenient resources; because most of the data is now available online, it’s easy to check out the details of any previous history on the property.
Your wholesaler needs to understand your investment goals so that they can focus on the right property for you. Professional wholesalers who have intimate knowledge of all local market sectors are things to look for when working with a Long Island wholesaler to expand your portfolio. In addition, the wholesaler that helps guide your investments today should be keenly aware of what your target buyers are looking for in real estate now and on top of any Long Island plans for growth in the future that may affect your bottom line.
When working with a Long Island wholesaler to expand your portfolio, there should be an apparent interest in working with you on more than just the current deal. In addition, your wholesaler should be passionate about their work and efficient with your time; they shouldn’t require any prompting to meet deadlines. Additionally, their language should indicate the desire for a long-term working relationship, which means they intend to treat you fairly in pricing so that you’ll return for your next wholesale investment.
Some try their turn at wholesaling to turn a quick dollar; however, their focus is how much they can get out of the deal for themselves. On the other hand, a full-time professional focuses on long-term potential and the current cash flow, with the goal of finding the best investment for your hard-earned dollars, and this is something you should seek in a Long Island wholesaler to expand your portfolio.
At Prestige Home Buyers, helping real estate investors like you grow their portfolio is our passion. Our professional wholesalers stop and focus on you and your goals at Prestige Home Buyers; we know the importance of listening carefully and working as a team to solve any problems that stand in the way of your real estate investment dreams. Working with a wholesaler from Prestige Home Buyers means the right people are available for every job required for success, from initial clean-up until the job is complete and everything in between. At Prestige Home Buyers, we’re proud of our work, helping investors like you beautify neighborhoods, improve the community, and help our neighbors solve their problems here in Long Island solve their problems. You’ll find all the things you’re looking for in a Long Island wholesaler to expand your portfolio by working with the experienced pros at Prestige Home Buyers. Why not let our full-service team at Prestige Home Buyers jump into action to help you fulfill the goals of your investment strategy, keeping you on top of current market trends and helping you with any necessary adjustments to your investment plans. And don’t forget to ask about our current inventory of the best duplexes available in NY. Contact Prestige Home Buyers today at (631) 336-9166. at (631) 336-9166.