I would shoot for 50%-60% of market value. Do not limit yourself to just wholesaling to landlords. You can also wholesale to investors who specialize in warzones. Simply drive around early Sunday Am when all the bad-guys are sleeping and write down the addresses of all the houses for sale. Then do a title search and you will find and investor or two. You just found your wholesale buyer!
I know I must be missing something in your post, but how is the title search going to reveal a wholesale buyer? Its probably right in front of me, but I'm not making the connection.
If you do research in the area and come across a person who seems to own a lot of properties, you have an investor in front of you which may be a great lead to purchase properties in that neighborhood.
This would take a TON of time to compile such a database but I'm sure it will work. This is a great idea for the beginner looking to wholesale!
Actually it would not take very much time at all to complete. Take an hour or two to drive the neighborhood and write down the addresses. And then run a title search on the houses. If you dont have access to a title search program, youi can give the addresses to a title company to pull-up the information for you. Then you can either send the investor a letter informing them of you services or you can call them directly by researching their telephone number on http://www.reversedirectory.com or http://www.merlindata.com. You could even check in the MLS at the listing itself and maybe find the owners phone number in the contact page. If that does not work, contact the agent and have them call the owner and leave a message for you.
In this business persistance is the key!
Best Riches,
Jeff Adam
_________________
"The only place success comes before work
is in the dictionary."[ Edited by JeffreyAdam on Date 08/02/2004 ]
You guys' advice is great. I would have never thought of driving around the war zones on Sunday mornings. I will definitely do that. Thanks Jeff, and thanks to everybody else who responded.
Oh yea, what' s the FMV for the war zones? I was thinking somewhere around the area of 15 to 20k. I tried pulling comps, but I only seen like one recent sale.
I would shoot for 50%-60% of market value. Do not limit yourself to just wholesaling to landlords. You can also wholesale to investors who specialize in warzones. Simply drive around early Sunday Am when all the bad-guys are sleeping and write down the addresses of all the houses for sale. Then do a title search and you will find and investor or two. You just found your wholesale buyer!
Best Riches,
Jeff Adam
[addsig]
Jeff,
I know I must be missing something in your post, but how is the title search going to reveal a wholesale buyer? Its probably right in front of me, but I'm not making the connection.
Scott
If you do research in the area and come across a person who seems to own a lot of properties, you have an investor in front of you which may be a great lead to purchase properties in that neighborhood.
This would take a TON of time to compile such a database but I'm sure it will work. This is a great idea for the beginner looking to wholesale!
Actually it would not take very much time at all to complete. Take an hour or two to drive the neighborhood and write down the addresses. And then run a title search on the houses. If you dont have access to a title search program, youi can give the addresses to a title company to pull-up the information for you. Then you can either send the investor a letter informing them of you services or you can call them directly by researching their telephone number on http://www.reversedirectory.com or http://www.merlindata.com. You could even check in the MLS at the listing itself and maybe find the owners phone number in the contact page. If that does not work, contact the agent and have them call the owner and leave a message for you.
In this business persistance is the key!
Best Riches,
Jeff Adam
_________________
"The only place success comes before work
is in the dictionary."[ Edited by JeffreyAdam on Date 08/02/2004 ]
You guys' advice is great. I would have never thought of driving around the war zones on Sunday mornings. I will definitely do that. Thanks Jeff, and thanks to everybody else who responded.
Oh yea, what' s the FMV for the war zones? I was thinking somewhere around the area of 15 to 20k. I tried pulling comps, but I only seen like one recent sale.
Murphy