WIP 1199: #ThrowbackThursday - How to Make a Quick Offer On a Wholesale Deal
Wholesaling Inc with Brent Daniels
Find distressed properties for pennies on the dollar and turn them for huge profits!
4.9 • 1.4K Ratings
🗓️ 27 April 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
If you're looking to estimate the market value of a property, you can use comparable sales (comps) and your experience with property renovations to determine how much it could sell for. However, what happens when the seller won't provide a number? Before making an offer, there are several factors to consider.
In this episode, Brent Daniels will reveal his tried-and-true method for calculating an offer price. He takes into account at least three different price ranges to ensure that his offer is competitive and profitable. By sharing some examples, you'll be ready to make an offer that sellers will accept and generate a solid return on investment. If you’re interested in learning more, the TTP Training Program is the best way to get started.
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Show notes:
- (0:50) Beginning of today's episode
- (2:46) Four Steps to Follow to Successfully Sell Your Deal
- (4:18) The Minimum Profit for Properties Under $200,000 is $20,000
- (5:45) How Do You Determine the Offer Price for Your Sellers?
- (7:06) The Greater the Risk in Your Deal, the Greater the Reward
- (9:06) Determine an Offer Price That Satisfies the Property Owner and Achieves Your Desired Profit Margin
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Resources:
- Zillow
- To speak with Brent or one of our other expert coaches call (281) 835-4201 or schedule your free discovery call here to learn about our mentorship programs and become part of the Tribe
Go to Wholesalingincgroup.com to become part of one of the fastest growing Facebook communities in the Wholesaling space.
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Transcript
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| 0:00.0 | You're listening to Whole Selling Inc episode number 1199. |
| 0:04.6 | But I'm telling you, if you're in a market that is selling properties of 400,000, |
| 0:08.4 | making 40,000 on one deal from fixing and flipping a property is what they're looking for. |
| 0:15.2 | I'm telling you, if you're going way, way, way lower, you're losing out on deals. |
| 0:20.4 | This is Game Changing Information, guaranteed to raise your real estate wholesaling business |
| 0:25.6 | with actionable steps you can take immediately to navigate the ins and outs of wholesaling |
| 0:30.5 | and start making money today. Join us as we put our guests in the hot seat and dive deep |
| 0:36.3 | to dissect their strategies for success to enable you to duplicate their results. |
| 0:41.1 | You're listening to Whole Selling Inc, the only show dedicated to making you a fortune in wholesaling. |
| 0:48.0 | So the quick offer here, all right, for properties that are $250,000 or above. |
| 0:55.8 | So you're calling, you're calling, you're calling, Zillow, you press that Zillow button on your |
| 1:00.6 | dialer or you're having a conversation with the property owner and you Google the address as |
| 1:05.1 | you're talking to them as you should so that you can see kind of what you can have a really good, |
| 1:10.8 | clear conversation about their actual property, the size of it, what it looks like, the age of it, |
| 1:16.1 | those type of things, the repairs that it needs. When you're looking at Zillow and it's |
| 1:20.4 | $250,000 or above, I want you to use 66%, literally just times that number by 0.66, okay, |
| 1:30.8 | this is just easy. We're going to get more nitty gritty, we're going to get more in the weeds on this, |
| 1:34.6 | but this is a good jumping off point, especially if people are really, really pushing you, |
| 1:39.6 | give me your price, give me your price, give me your price, they're not giving up anything. |
| 1:43.6 | You're asking them what they think their properties worth, you're asking them how much repairs |
| 1:47.7 | do they think it needs, all of those things and they're not really giving it to you, they still |
| 1:51.5 | got that force field up, it's still real thick, right, they're not really playing along, |
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