Last week I put a property under contract with the intent of wholesaling it to one of the investors on my buyers list. Unfortunately, the guy I had in mind for the property ended up passing on the deal, and so did everyone else on my list.
I started to sweat a little bit, but knew that I had a good deal on my hands and just needed to do some Ninja marketing to find an end buyer. My goal was to get the property sold within 7 days, which I ended up doing. Following was the marketing strategy that I implemented, which resulted in a signed contract as of yesterday which will put a quick 4k in my pocket.
Signs Around the Property: Signs are my #1 source of leads for buyers, so I immediately placed handwritten signs in the neighborhood where the property was located. I put the signs out early Saturday morning, and my phone rang off the hook all day. (Note: Code enforcement in your city may prohibit you from placing signs in certain areas, so be sure to check with them first to find out what the rules are).
Contact Landlords in the area: While I was driving around Saturday morning, I jotted down the phone numbers from every single For Rent sign that I saw in the neighborhood, then once I returned home, I called the landlords and asked them if they were looking to pick up any more rentals in the area. I also did some research on my county’s Section 8 website to see which landlords had properties for rent in the zip code where my deal was located, and then contacted all of them as well.
Online Research: By searching through the Property Appraiser website for my county, it is easy to find out who the active investors are in any given neighborhood. I look for private investors or LLCs who own more than one property in the area where my house is located, as there is a good chance that they might be interested in buying another.
When I did my search, I found ten investors who owned multiple properties in the area. I then did some internet detective work (thank you, Lord Google!), and was able to get phone numbers for 6 out of the ten investors! I contacted all 6 of them and sent out letters to the remaining 4.
Not only did I get the property under contract shortly after I put these strategies to work (the buyer came as a result of one of my signs, btw), but I was also able to add several more investors to my buyers list as a result of my efforts.
This isn’t the first time I’ve used these strategies to find buyers for my wholesale deals, and it definitely won’t be the last. Give them a shot next time you need a buyer for one of your deals- you won’t be disappointed!
Photo: Salvatore Vuono
Related posts:
- How to Complete Your First Real Estate Deal in 30 Days
- How to Close REO Wholesale Deals (Part 1 of 5)
- How To Make $70,000 Off A Real Estate Wholesale Deal
- How to Close REO Wholesale Deals (Part 3 of 5): The Double Closing
- How to Close REO Wholesale Deals (Part 5 of 5): Using a Land Trust
Article Author: Stephani DavisStephani has written 47 articles for us.
Visit Stephani's Website: http://www.flipthiswholesaler.net/
Formerly a bartender, Steph Davis is now a full time wholesaler in Tampa, FL. If you'd like to get an idea of what it's really like out there in the trenches, head on over to her blog: FlipThisWholesaler.net!
Joshua Dorkin
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simple yet effective.
Good stuff Steph!
Thanks Guys!
Thanks- That’s a great post with some pretty neat ideas. Apparently, your not in my local market but I’d like to hear from folks with investment opportunities for rental properties in Orange County, CA. I do however like multifamily properties. Keep up the good work.
Mike
Great post Steph and congrats on the deal. I never even thought about going to the Section 8 website. I’ll definitely have to explore that avenue more. I’m curious though… How many signs did you put out? Again, congratulations on the deal!
I put out 100 signs that weekend- 50 for this property and 50 for another one.
My phone is still ringing.
Wow, those are some great results Steph! Sounds like your almost averaging a call per sign
Yup. They have always worked really well for me, and are relatively cheap, so I continue to use them…
Nice article, Steph! I really like the term you use, “Ninja” marketing. That’s a good tip about contacting the landlords in the area and the online research. I’ve done the sign thing myself, gotta love those handwritten as they definitely work! Always a pleasure to hear your stories, thanks for sharing.
Thanks for another very informative post Steph. I always love the way you simplify everything in your post and your ever present use of creativity.
50 signs out there for one property will DEFINITELY get the phone ringing…..good stuff. What radius outside the said property do you stay within when you put up 50?
Hi Chris,
I just start on the same block as the property and work my way out. Usually ends up being 3 or 4 blocks in each direction.
Steph
Thanks for sharing those wonderful tips, Stephani…
Like everyone I love reading your informative and simplified strategies articles.
My questions are what exactly would you write on those signs? and which type and size and colors are you finding the most effective ones? And you use stencils or you handwrite them?
Thanks for the answer in advance!
–Mona
Hey Stephanie,
another great article!! Question though? Did you ever run into a bit of difficulty with the potential buyer going online and finding out how much the property was orignally on sale for? I’ve been shot in the foot twice on that. The pofit potential is still pretty high for my buyers, but maaan a few are penny pinchers who get ah lil emotional when they see I am going to make a potential profit. I’ve tried contacting the seller whom I have under contract and request they take the property off the market. Still the information can be found. Any thoughts?
hey Stephanie
that was some good info i’m looking for a book to get me started on my whole saling game, can you gave me any feed back on that thank you .
Hi Vernon,
I don’t know of any wholesaling books, but if you’re looking for a good course, I recommend Steve Cook’s Wholesaling for Quick Cash. Google it and you should be able to find several links to it so you can get more info.
Good luck!
Steph
I always love the straight up no bull answers and advice that you give Steph. Thanks and keep up the great work, it’s really appreciated.
Can you elaborate on “Online Research: By searching through the Property Appraiser website for my county,” I tried doing a google search to find this information for my county (Los Angeles County) and had a tough time. Any suggestions on where I can find local investors?
Jason – Try your local real estate clubs or here on BiggerPockets.
Jayson,
I think what Steph is getting to the Property Tax Appraisal website or the County Tax Assessor website. From there, you can do a search under first or last name, using key words like “sell”, “buy”, “rent”, “llc”, “co”, “invest”, “lease”… basic investment key words (without the parenthesis)to find properties and who owns them. If you can tell they own multiple properties, you’ve probably found an investor buyer. All you do, is mail them a letter to the tax address on file. I hope this helps you.
I’m currently beginning my ventures as a wholesaler my question if any one can advise me on this is do I need to take title to subject property to sell it to the end buyer or will or can I do an assignment
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