My coaching client Brian Blanders hopped on a call to talk to me about his new virtual market. After realizing that his own market in Utah was just too high to make any sense, he turned to his hometown market in Tulsa, Oklahoma, and had to create a partnership with local folks to make his wholesaling business viable.
Your goal is to find motivated sellers, but your seller’s particular motivations are going to affect the kind of deal they agree to. Listen to how one of the four pillars of a seller’s motivations dramatically affected the negotiations for Brian’s latest property, and how he changes his approach to make the deal happen. In terms of negotiations, you follow down a path that makes sense, until it doesn’t. And figuring out your seller’s motivation is key in finding the right path.
When is it worth doing a flip versus doing a wholetail deal? Brian had to ask himself that question when he realized that he couldn’t simply paint the house he’d just purchased. As you know, I’m a huge fan of virtual wholesaling, but deals aren’t the only thing that can be managed remotely. When Brian had to change his plans, he had to learn how to manage his team and their fix and flip from several states away.
Flexibility, creative financing, and a huge growth mindset really helped Brian navigate his first deal. We’re going to work more closely together to put better systems in place so that no matter where his next deal is, he’ll be able to provide at least one option that a seller can’t resist.
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