The Truth About Finding Money For Wholesale Deals
People have it all backwards…
Most new investors believe they need to secure money for deals (cash buyers) before they can go out shopping.
This is definitely not required.
In fact, there’s only one reason to go out looking for cash before you’ve found a deal.
And that’s to make yourself feel better.
To assure yourself that you’ve got the money to close.
I get it.
You’re worried that if you put a deal under contract, and you don’t know where the money is going to come from…
Time might run out.
You might hit the closing date and not have the funding.
But let me explain to you why that’s almost never an actual problem.
For starters, if you’re doing deals the RIGHT WAY, you’ve got clauses in your contract that allow you to safely exit the contract in the event that you can’t close or assign the deal in time.
That’s your “insurance.”
There’s hardly ever a time when you need that “insurance” in the first place.
Because when you do deals the right way - getting a great price - the deal practically sells itself.
There’s no shortage of people looking for great deals.
If you’ve got one, and it truly meets the requirements of a great deal, you’ll see that cash buyers come at you from all over the place.
Getting is sold or assigned isn’t the issue.
Locating and locking up the discounted deal in the first place…
THAT is what you need to be focusing on.
After 15 years in the business, I can assure you…
If you truly have a GREAT deal on your hands, the rest will all but take care of itself.
The truth about finding money for wholesale deals is that you almost never need to search for it.
You just need to search for the deal itself.
I hope this helps somebody!
Have a great day, -Joe