The 24-Week Challenge: Week 23 - Co-Wholesaling
The question the 24-Week Challenge poses is how do real estate investors build real wealth and freedom without access to millions of dollars in capital? Zack Childress is taking us through 24 podcasts to get to the answer.
We’re at the next-to-last week, episode 23, and you’ll be learning about a different strategy for wholesaling real estate. It’s called co-wholesaling.
Co-wholesaling is good for new investors who are low on ready cash or low on time. Plus, it puts you in touch with other investors that you can learn from and prosper with.
The term means exactly what you would think. One investor does one side of a wholesale deal and another investor does the other. You find sellers, and go to other wholesalers to find buyers… or vice versa.
Even if you’re enjoying tons of success, you need co-wholesaling in your toolbox. It allows you to find buyers for contracts you haven’t generated interest for among your own contacts.
You can also facilitate deals by finding an investor who has a seller and one who has a buyer, then introducing them to one another. Of course, you also need to negotiate the payment for your contribution to the deal.
Experts (including Zack) say, “Pressure is needed to create innovation.” You get a contract you can’t seem to sell and see if you feel motivated to try co-wholesaling.