EP344 Wholesaling Without Boarders With Nathan Payne

A Canadian Investing in the U.S. with Glen Sutherland

Nathan Payne, shares his experience with virtual wholesaling, emphasizing that it can be done from anywhere, including internationally. He explains the process, noting that the key is solving the seller's problem—whether it's a distressed property or a situation like foreclosure or troublesome tenants. Here are some key insights from the conversation: Wholesaling Process: You find a property at a discounted price, often due to a distressed situation, sign a contract to purchase it, then assign the contract to a cash buyer for a fee. The key is to buy at a price that allows for profit when reselling the contract. Virtual Wholesaling: Nathan successfully wholesales real estate across the U.S., even while living in Canada, showing that wholesaling can be done virtually if you have the right systems in place, such as using texts or email for communication and working with local teams. Sales and Marketing: Wholesaling is about sales and marketing. You need to generate leads, reach out to sellers, and find a solution to their problem, whether it’s a distressed property or a challenging situation like a non-paying tenant. Follow-Up and Persistence: Successful wholesaling often requires multiple follow-ups with sellers. It’s not uncommon for deals to take months of consistent communication. On average, at least seven touchpoints are necessary before securing a deal. Alternative Solutions: If a seller doesn’t accept a cash offer, Nathan suggests other creative strategies such as seller financing, subject-to deals, or listing the property on the open market to find a higher-paying buyer. This flexibility helps close deals that might otherwise be abandoned. Market Conditions: While hot markets make wholesaling more difficult (as homes sell quickly without needing to discount), a slower market presents more opportunities, though the deals may take longer to close. Nathan also shares his approach of simplifying the process, advising new wholesalers not to worry about complex systems like CRMs at the beginning. A simple spreadsheet is sufficient to track leads in the early stages.