http://www.youtube.com/watch?v=-vZiAcPA11k

I received a question the other day, asking me if you can flip houses in a good economy, and what the differences are between flipping houses in a good housing market vs a bad one.  And here is my response…

If you start your wholesaling business the right way, you will have to tweak your business very little, as the housing market changes.  If you do not start your wholesaling business the right way, you will be forced to change as the market changes.

Here is how you do it:

1. Locate your city’s active cash buyers.

2. Find out what they want in a property, where and how much they will pay for it.

3. Go find them deals.

What most do is take the market for granted.  For example, when the housing market was good, nobody much cared about locating and forging relationships with buyers.  It was a given that the property would sell.

Then when the market changed, all of a sudden, wholesalers were scrambling for buyers.  But, if they would’ve forged those relationships in the beginning, they wouldn’t have to worry about it.  And, while everyone else is freaking out, they would still be prosperous.

Don’t neglect relationships with your buyers!

The Maestro