You need to watch this video, because today, guys, if you’re trying to be successful real estate investor, you really have to understand the difference between a buyer and a seller’s market, because if you don’t know how what they are, you’re going to struggle to know how to pivot your business. So stay tuned.
This is what we’re going to talk about. By the end of this video, you’re going to know exactly what is a buyer’s market and what is a seller’s market. You’re going to understand what market we’re currently in at this time, 2023 understand exactly what kind of market we’re in right now.
So you know how to pivot the best ways to use your time, depending on if we you are in a seller’s market or if you in a buyer’s market, and how to make money in today’s current market as a real estate investor and wholesaler. So first guys, let’s tackle what is a seller’s market? So if you’re new to real estate, you might not know what a seller’s market, but what a seller’s market is, is when sellers their properties are in high high demand, there’s not a lot of inventory on the market. So literally, you can put pretty much anything on the MLS.
You can have a house that’s not fixed up, and you can sell it quickly, just because there’s a lot of demand for properties. Just over the last two years, you guys have known what’s happened with the, you know, the pandemic, there’s been low, low inventory.
So that’s been a giant seller’s market for sellers, because there’s not a lot of houses. So, you know, if you got a really, really crappy house or some something that needs a lot of work, people overlook that, because they’re like, Well, I don’t care. I need to buy a house. And that’s why there was, like, hundreds and hundreds of showings per property, because sellers were the ones that had the power.
They were like in demand, and that’s what a seller’s market is, is when there’s less houses for sale than there is demand, and the sellers have the power. So what the heck is a buyer’s market?
Well, buyer’s market is exact opposite. Tons of properties on the MLS, tons of properties for sale, and not a lot of buyers. And that’s exactly what’s happening right now. Interest rates have shot up.
They’re right now currently around like six, 7% on the interest so basically, what’s going on is buyers, a lot of investors, a lot of home buyers are just sitting sideway, on the sidelines and saying, Look, I don’t want to pay that much for housing, so a lot of people need to sell.
So that’s kind of what’s happening, and it’s really kind of affecting the way that real estate is is going.
A lot of the prices are dropping. So your your strategy on how you work with sellers and you work with buyers.
If you’re a wholesaler, if you’re a real estate agent, real estate investor, it’s really being impacted, and it gets impacted by if you’re in a seller’s market, if you’re if you’re in a buyer’s market.
Now, let’s talk about how you can make money doing these things. You’re probably wondering, which current market are we in right now? Are we in a seller’s market? In a buyer’s market? Come on, guys, you already know it’s a buyer’s market right now.
A lot of properties are hitting the market, and sellers aren’t able to just sell their home like that, like they used to. I know guys, because I have three properties that I flipped. I bought them in March, and I’m trying to sell them now, and they’re not moving. These are great homes.
They look great, but there’s just more options on the market right now. So flippers, me, other people that are flipping properties, they’re not able to sell their homes as quickly.
So what’s going to be the game changer here is really doing a good job on your rehabs. What’s happened over the last two years in the seller’s markets?
You didn’t really have to do a lot of rehabs. You could just take a property slightly discounted, put it on the MLS, sell it, list it with a real estate agent, and you could sell it super quick above market value, right?
But right now you can’t do that. You’re not gonna be able to put a house on the market that’s just not in good shape, because, you know, you got all these different options that people have, that they can choose from.
So if you think you can wholetail, and that’s what whole tailing is, wholesaling is just taking a property that needs a little bit of work, or actually maybe even a lot of work, but it needs work, and putting on the MLS and hoping someone will overlook that and just repair themselves.
That’s not really the play, and that’s not really working. That was the play in a seller’s market in a buyer’s market. Good luck. That’s not going to work for you.
Before I finish up the video, I want to invite you guys to check out my free tool that I have. It’s called the painless wholesaling mind map. I literally spent the last five years taking all my knowledge and putting it into this awesome mind map that goes through the process of how to do this business, step by step in 10 steps.
And obviously it’s a mind map, so if you click into it, it drops in deeper. It’s got contracts. It’s got the process of getting a deal from start to finish. And I want to give that to you so you guys can excel right now, especially in this buyer’s market that we’re in, that we’re talking about. You will see exactly how to pivot your business. So go check out that tool. It’s absolutely free, so I’ve got a juicy store for you guys. You probably want to know how I’ve been pivoting my own business in this market shift.
And I’m going to tell you exactly how I’ve been continuing to make money and exactly how I pivoted. So check this out, guys. At the beginning of the year, I was my wholesaling business, my real estate business was absolutely crushing it.
We’re doing several deals doing six figure months, and what happened is when the interest rates shot up and. The market shifted my team. I was using virtual assistants to from Columbia to do the deals.
They were closing deals with sellers over the phone, and you know, that’s how we had our process set up. But the problem is, they weren’t the amazing at negotiating, right? And what’s happened now is, as it switched from a sellers to a buyer’s market, it’s not that easy to get sellers to accept the low prices that are necessary for flippers to continue buying deals.
So I had to kind of pretty much wipe my team out. And no, I love my people in Colombia, but it just didn’t make sense. I had a big team, and what was happening was I was paying a lot of money out for the overhead, and they just weren’t bringing the same amount of deals in.
So what I did is I went really lean on my company. And what it is right now, it’s me and a couple virtual assistants from the Philippines who I love. If you don’t have virtual assistants in the Philippines, they’re awesome.
Check them out. But anyway, what we do now is we do what’s called reverse wholesaling, or I call it painless wholesaling, and that’s basically where you look for deals that are already on the market, and you have great relationships with buyers. Because what’s happened when you’re in a seller’s market, you really got to go find those deals. Buyers are plentiful.
But right now it’s kind of switched, so buyers are the ones who you want to work with. So right now, what I do in painless wholesaling is I find all the buyers that are still consistently buying flips and rentals, and I get really good relationships with them. I take them out to lunch, I call them, we have a good conversation. I check in on them, like on the weekly just to see what they’re up to.
And now, instead of the buyers being not as important as they were, they’re like the most important thing for me.
So I find out exactly what they want to buy. I reach out to one of my for example, one of my buyer’s name is Nate Worthen. I reach out to Nate. I say, hey, Nate, you’re still buying, right?
He says, Yeah, I’m still buying. Okay, great. What are you looking for? I’m gonna Exactly. I’m gonna go out and look for that deal exactly where you want it.
So that way I’m not spending a ton of time, a ton of effort marketing all over the United States or even in Utah. I can go to a specific neighborhood, a specific area, get three twos if he wants a house that has three bedrooms, two baths, and I can find that and reach out to those sellers that are selling that property.
Now, the reason why this is so important, guys is because buyers are the priority right now.
So you got to find what they want. Because if you do the traditional way of wholesaling, where you just go and find a deal, and then you find a buyer, you might have spent three months, two months negotiating with, you know, an old lady or or whoever that you finally get the house under contract, and they don’t nobody, nobody wants it. It’s on the wrong street. It’s in an area that no buyers are buying in.
So the way to pivot your business, and what I’ve been doing is I’ve been focusing more on the buyers and finding out exactly what they want with the painless wholesaling method. So I’ve been saving the best for last. Now you guys remember, at the middle of the video, I gave you the painless wholesaling mind map that literally lays out the whole process of finding a buyer doing the reverse wholesaling method, which, again, I call it the painless wholesaling method. Go check that out, because what I’m going to tell you right now is how to actually apply what I’m saying.
So the cool thing about this guys is, if buyers are the power of they’re the gold, like the commodity right now, how do you find them? You’re probably wondering how you find some buyers, and that’s exactly what this mind map can teach you now.
It’s got, like over 20 different strategies that you can go in and find buyers that are currently buying in this market. And I can’t list all them off for you in this video, but I can tell you to go check it out, and I can’t explain maybe one or two left on, you know, out of the mind map.
So let’s check this out. If you want to find a buyer that’s currently buying right now, that’s doing fix and flips and not afraid or has cash piled up so he’s ready to take advantage of the market shifting. Number one, call a title company.
A title company knows who’s buying, and they can tell give you a referral. And I did this myself. I called the title company and said, Hey, I’m wholesaling more now.
I’m not buying as much. I’m not flipping. I’m just trying to assign my contract. And the cool thing about is the title company, they want you to bring them business, because that’s how they make money.
So she got me on the phone and gave me the contact info for one of their top buyers. Now that’s just one way.
Another way is you can reach out to private money lenders, hard money lenders, in the area, and just say who’s still asking you to borrow money so they can flip a property.
That’s a great way, because they want to make money by lending out their money. So they’re going to give you their top buyers. So guys, those are just two ways. And I got, like I said, 20.
Check out the mind map, and it’s going to change your life in the way you’re doing business right now the next video you’re going to want to check out is how to make in real estate sales now that you know what kind of market you’re in, now it’s time to go make some money. Check out the video you
