5 Steps To Getting Started Wholesaling Houses

Danny Johnson / 45 comments

My first ever video post. First take… you might be able to tell. They can only get better from here. 🙂 I hope you enjoy it.

In this video, I cover 5 simple steps to getting started wholesaling houses.

This is the order I feel people should focus on when just beginning.

Step 1: Find Serious, Cash Buyers

Step 2: Find Out What They Want In A Deal

Step 3: Find Them Deals That Meet Their Criteria

Step 4: Put The Deal Under Contract With The Seller

Step 5: Assign The Contract To One of Your Cash Buyers

My intentions are to start adding more videos to the site which could include rehab walk-throughs and the like.

Thanks for visiting,
Danny
Google+
You say, “I want to sell my house fast.”
I say, “We buy houses for cash, in San Antonio.”

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45 awesome responses to “5 Steps To Getting Started Wholesaling Houses”

  1. Paul Grgurich on

    Danny – Exellent work, nicely done…I like like the format that you presented with writing on the board. Easy to follow, easy to understand…
    I’m ready to hit the streets!!!

    Thanks for your help, Paul

  2. Iyabo on

    This is so GREAT!!! thanks Danny

  3. Brandon Turner on

    Well done, Danny! Love the video format. Definitely looking forward to seeing more of these!

  4. Robin Tolleson on

    Very impressive and easy to follow along while working!! loved it Thanks!!

  5. Carlos Reinoso on

    Great Job Danny. I like that you aren’t totally comfortable in front of the camera, it makes you look more Authentic and credible in my book. Also, no one has explained Wholesaling as well as you in your website and in now in this video. I’m looking forward to more! Keep up the Great Work, a lot of us Newbies are watching, listening, and appreciate you taking the time to educate the rest of us.

  6. Brandon on

    Nice work, Danny. Never easy to put yourself out in public. I do have a question related to step 4 and 5…please let me know if there is a better place to ask questions. But it seems like there is a lot going on “behind the scenes” from when the property is put under contract to when the contract is assigned. What happens if you put a property under contract and are unable to assign it…you noted there was an earnest money deposit at the title company. Do you forfeit? Thanks.

  7. Michelle on

    Thanks Danny for providing this valuable information (in addition to all the great content on your website)! I too appreciate the time you take out of your busy schedule to educate others.

  8. Shaine on

    Good job, Danny! Thanks for “hanging it out there” and getting the job done. The video is great and I like the use of the whiteboard. Really makes me want to take notes and then take action. Thanks again.

  9. Lubasha on

    Nice work Danny! Full course on wholesaling in it’s essence within minutes. And your presentation is clear and easy to comprehend.

  10. Tom Tarrant on

    sweet Danny. Great seeing you on video, after all these years I feel like I know you now; )

  11. Mike on

    Great video Danny. Congrats on your first one. I like that you tell new wholesalers to stay away from REO’s because it is more difficult. That is 100% accurate as you can’t assign bank owned properties the typical way and in some cases have to put down 10% deposit.
    Also there is much more competition on REO’s so great advice!!!
    Anyone looking to wholesale needs to follow you.
    Keep up the great work!

  12. Lisa Young on

    Great video,fun and entertaining at the same time learning in a better way. Glad I watched this video.

  13. Doug Haisten on

    Great video Danny,
    From the time I first started following your blog when you started the 34 wks I look forward to your posts and I model most what I do with what you have posted. I’m sure this all takes extra work so I really appreciate what you do.

    Doug

  14. Steve Grande on

    Enjoyed the way your information was presented! You made a complicated subject easier to understand. Also, the whiteboard forces one to watch your writing on it, and the connection made between showing each point and talking to your audience helps you to understand the subject. Well done!

  15. Mister Gardner on

    dear danny, if you do not own the house but have it under contract to buy how do you show the house to the buyer without the actual seller being their

  16. Preeti on

    Lovely points, Very helpful

  17. David Lathrop on

    Thanks for the video good job!
    My question is about contracts..I have heard you can get them at office supply stores but can be very generic. I have found sites like Rocket Lawyer and Law Depot that have a variety of contracts and forms that seem to be fitting. I know a good property Lawyer can put these together for you and I need one on my Team but since most of us start out with little or no money paying a Lawyer for contracts may not be within a budget. Have you had any experience with online sites or heard any opinions?

    Thanks again keep the videos coming great stuff!

  18. Mike Scott on

    Thanks for the videos and other resources! I have a wholesaling question. I normally do rehabs that I finance through a local bank. I have found a vacant house that has the potential for making much more than the average return that is waterfront in a nice neighborhood. I would never be able to buy and rehab it with the financing I have, the price would just be too high. I would like to wholesale it instead but I am concerned that a savvy seller might want proof of my ability to pay and close on the property before signing a contract. How would you handle a situation like this?

  19. Rohan on

    Danny Thanks for the info. This is really great information. It’s now given me the confidence now to get started.
    Thanks

  20. Eve on

    Hi Daniel ,

    In one of your blogs, you mentioned you used to spending lots of time designing magnets and pens. I am wondering do you mail them with your direct mailing? Do you receive good response from it singe you have your company info printed on it?

  21. Jonathan Jimenez on

    Awesome video. I love the breakdown.

    I am about to get your, “Top 5 Motivated Seller Marketing Methods” I plan to read while gaining a buyer’s list!

    Step by step.
    Thank you,
    Jonathan

  22. zigmunt smigaj on

    Hi Danny, Great video! Makes me want to jump into the course you offer right away to learn more… whiteboard rocks, good use of visuals. Questions:

    1. You dont go through a real estate agent for these I assume, in the past I had to always show proof of lending letter to a agent before they really wanted to spend time showing houses and making offers… with this process you simply need to have enough for the earnest money and make a direct offer to the seller….correct?

    2. How much do you use for earnest?

    3. Do you use Zillow to compare home values and other market data?

    4. New construction… ever considered wholesaling a preconstruction property, I’ve heard that builders need so many pre-sales to get financing for the completion in certain cases. Or considered buying the model home and renting it back to the developer, this way they have cash in hand from a sale and still get to use the model home to show buyers.

    Looks like having a good network of invester/buyers is important otherwise you will lose the earnest and waste a sellers time….unless of course you decide to flip yourself, which makes sense that you wouldnt put a property under contract unless it was a good deal in the first place.

    Kindly – Zig

  23. michelle on

    Hi Danny,
    Thank you for all the information so far. My question is where is the best place to find investors and how would someone like myself who is just starting out go about being taken seriously by investors.