Co-wholesaling is probably one of the most beneficial strategies we use to increase the number of deals we do on a monthly basis. What I want to do is lay out for you what co-wholesaling is.
In the simplest of terms, co-wholesaling is partnering with other wholesalers to sell your deal; a deal you have under contract, or to help them sell one of their deals. Ultimately, the intention is to split the profits. It is a way for us to develop relationships and co-promote other wholesalers’ properties, and it will allow us to organically grow our buyers list by utilizing other wholesalers who have lists as well.
What does co-wholesaling do for us? What it provides us with is leverage. Let me go into a little bit of detail and explain what leverage is provided when we cross-promote and work with other wholesalers to co-wholesale other properties. The power in the leverage is simply taking the concept of working smarter, not harder, to a whole new level. It is going out and utilizing individuals, like-minded people in our business, who want to make money and do deals essentially the same way we do. When we leverage other people’s resources such as their buyers lists or other wholesalers’ properties or inventories, then we minimize the amount of work we have to do on the other end. For example, if we have a wholesaler who has a property in inventory where he has it under contract or he actually owns it, then all we have to do is come into the picture, work out an agreement with that wholesaler, and bring the buyer to the table. We split the profits 50/50.