Why All Successful Wholesalers Must Have Access to Private Money
One of the reasons I have a successful real estate investing business today is because I have made a lot of mistakes along the way — and, more importantly, I learned from them.
You don’t have to make the mistakes I made.
You can skip the pain of learning the hard way by reading about my slip-ups and what I did to fix them.
Did You Know That If You Lack the Cash to Close, You’re At Major Risk
Wholesalers, you’ve done your job.
You’ve build a buyers list. You’ve found a great deal.
But now, if you don’t get a buyer on the hook to purchase your deal quickly and do not have the cash to close the deal yourself, you’ve got a problem. What are you going to do if your deal if your buyer doesn’t come through and close your deal?
If you don’t have private money or flash cash available, you might end up in serious trouble.
You might lose your earnest money, you can damage your reputation and – you will lose your profit.
That stinks.
I Got Screwed Early In My Wholesaling Career
This happened to me early in my wholesaling career.
I put a great property under contract and then sold it to another real estate investor.
We had our double closings all set up, and I was ready to go. But, guess what happened. My buyer had a hunch that I didn’t have the money to close on the property and he stalled. He didn’t close.
He went behind my back and causing me to lose the deal and my non-refundable earnest money. It was a tough lesson that hit me right where it hurts—in the bank account!
Most Cash Buyers Value the Services of Real Estate Wholesalers
There are unscrupulous people out there.
Beware and be prepared.
You must maintain control of your deal. That means you must have private money or quick access to cash available as a backup if your deal doesn’t close with your buyer.
Don’t leave anything up to chance. People are good and honest for the most part, and they value you as a wholesaler, but you must be prepared if things don’t go according to plan. You don’t want to have to completely depend on someone else for the deal to go through smoothly.
The trick is to maintain control of the deal, manage your timelines, deadlines and inspection periods. And just in case things don’t go as planned, you must have access to private money as a backup.
If I Only Would Have Had Private Money for My Real Estate Deals?
If I would have been able to close on that deal, I could have maintained control of that property with a contract. That’s half the battle.
Get access to private money so that you can close a deal yourself if needed. Then you are truly in control of your cash flow and your business.
If You Want to Learn the 3 Secrets Used by Hundreds of Real Estate Investors from Across the Country to Raise Millions of Dollars in Private Money, Claim Your FREE “3 Secrets to Raising Private Money Training Video” Right Now at http://www.RaisingPrivateMoneyNow.com
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