What is the #1 thing that Wholesalers botch up?
Not getting this one number right kills the deal consistently for most “wholesalers” and they therefore go home empty-handed.
That number is the Repair Estimate.
If you mess up this number — and wannabe wholesalers almost always make it too low due to their lack of experience — then the rest of your projections become meaningless.
When you put garbage repair estimate numbers out there to your potential buyers, they:
1. Easily figure out that you aren’t even close to accurate,
2. They quickly lose confidence in you and they don’t buy your deals, and
3. They even stop paying attention to your future deal announcements.
Therefore botching the repair estimate is the kiss of death for a wholesaler.
Quite simply rehab buyers lose all trust in you because you blew it.
So, how do you fix this problem?
1 — The hard way is to shadow a bunch of rehabbers for many months during their renovations and slowly see what they are doing and how much it eventually costs.
2 — Or you could hire rehabbers to come in and give you a repair estimate that you’ll pay handsomely for.
3 — The EASY WAY is to attend Traction REIA’s “Turning Houses Needing Rehab Into Pots of Gold” training event with “The Queen of Rehab” Robyn Thompson on Saturday July 28th.
It’s part of a 2-Day Doubleheader Training on Rehabbing Houses and Holding Rentals. You can attend just 1 day or both.
Register NOW using this link:
During this training Robyn will cover what you need to know to produce accurate and reliable repair estimates.
So, if you are a rehabber you will get better at this — which will impact your bottom-line profits, and if you are a wholesaler, then you will finally have this most critical number and how to accurately produce it demystified.
Register NOW using this link to secure your place:
See you there!
10+ Year Recipient of the National REIA “Honors of Merit”
and the “Award of Excellence”
For Best Real Estate Investor Association!