Finding houses to wholesale...your opinion please - Posted by Aaron

Real Estate Investing
1

Posted by dewCO on December 04, 2000 at 23:03:25:

Check the archives under MOTIVATED sellers.

2

Finding houses to wholesale…your opinion please - Posted by Aaron

Posted by Aaron on December 04, 2000 at 12:58:24:

I’m looking for some opinions on this…What is the most productive way to locate houses that are candidates for wholesaling to another investor?

I know that just driving around town and looking for vacated or overgrown properties will work, but that seems too easy to pass up a lot of good candidates. Any suggestions?

Thank you,

Aaron

3

Re: Finding houses to wholesale… - Posted by Ray

Posted by Ray on December 05, 2000 at 10:58:30:

Hi Aaron,
I have one agent that I use most all of the time and I have several others faxing REO lists periodically. I received a call the other day from an agent I had talked to several months ago who had saved my number. She called to tell me about a property that wasn’t listed yet and was a good deal. I ended up not pursuing the property due to insufficient parking (4-units,2-parking spaces) but the point is that the more people who know you’re looking for distressed properties (if your investors are rehabbers, like mine are) the better off you are.
hope this helps

4

Re: Finding houses to wholesale - Posted by keithk2

Posted by keithk2 on December 05, 2000 at 01:16:10:

Driving around takes a lot of time and gas for too little return. Take Joe Kaiser’s advice and stop looking for properties and start looking for motivated sellers.

I never drive to a property unless I already know that the seller is motivated to give me a deal. I reach distressed or motivated sellers through attorneys, legal advertisements, running newspaper ads, and talking to RE agents. Sometimes, I get calls from attorneys who have clients who need a fast sale. I had one attorney call me to purchase a house that he had a lien on so he could get paid for representing the former homeowner. RE people call me when they are up against a time or financing problem. (I’m amazed at how little RE agents know about creative financing!)

It comes down to maximizing your exposure to people who may have a real estate problem that you can solve with a quick sale.

All success
Keith