Andy McFarland is a self-made real estate
entrepreneur who started with nothing and currently makes seven
figures a year in his real estate business.
 
After getting fired from his last
W-2 job in 2004, Andy went into real estate full time and has never looked
back. Andy currently focuses on wholesaling properties in three different
states; Utah, New Mexico, and Indiana. In 2015 alone,
Andy did over 150
deals. 
 
Andy has
been married for 10 years and currently resides in Farmington Utah
with his beautiful wife and three amazing children.
Andy enjoys being around
family and friends and continuing to grow and learn every day. You
can follow Andy on
his real estate journey by going to his website:
www.iloverealestatestories.com or on his YouTube channel by
searching for I Love Real Estate Stories.
 
He was also with us on episode 19
where we discussed ‘how much do you really need to know before
getting started flipping houses?’
 
In today’s episode we talk about how
real estate wholesalers operate and how to become one of their VIP
buyers.
 
There is a very common misconception
that wholesalers don’t leave enough meat on the bone when they sell
their deals.  That
can and does happen, but it’s not every deal and not every
wholesaler.
 
We discuss how we’ve seen
wholesalers put out great deals at crazy prices because they made
assumptions that were invalid. 
 
Andy gives an example of how he just
bought a house from a wholesaler that thought the house would only
work as a rental. 
Andy determined it would work as a flip and snatched the deal up
and wholesaled it himself at a higher price.
 
Some key points to take away from
this episode are as follows:
 

Be top of mind with good
wholesalers (call them on a regular basis and befriend
them)
Develop friendships.  Don’t just say, ‘Give me,
give me, give me.’
Be prepared.  Be ready with funding,
earnest money, offers, etc.
Don’t make assumptions.  Do your own due
diligence.

Andy wholesales a TON of deals every
year and his insights on how to build a great buyers list and how
he operates his business are priceless.