Real Estate Agent · Clearwater, FL · Member since 2016 · 11 posts · 2 votes
Hello,
I have been a member for over a year but haven't done a deal yet. My business cards are coming in this week, I have went to the court house for a probate list, and I have gotten some template flyers for wholesaling. I'm determined to do at least 1 deal this month to get me off and running. I believe once I can get that 1st deal done, I believe I will be even more determined. I have also set a six figure goal for my wholesaling investing this year so this is my year! Any advice or experience anyone can give me, it would be greatly appreciated. Thanks Biggerpockets for an awesome site and connections! I can't wait to be more involved!
Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
9y
Hi Theresa , I am an investor and wholesaler here in Orlando. Welcome to BP.
I also host a monthly BP Meeting here in Orlando and you can meet many local investors learning more about investing. It is on Jan 10th at 6:30 PM. Here is the link if you want to join us. Hope to see you there. The topic will be how to find, evaluate, contact owners and sell to rehabber VACANT HOUSES.
My advice to new investors is to start wholesaling properties. This is the quickest and best way to get started with the least cost.
First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. There should be some. Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close.
Many times the owners don’t update their mailing address with the county so you may get the letters returned. I use beenverified.com to get the most updated info. It costs me $24.95 a month but it is well worth it because it also gives me email addresses and phone numbers.
If you are going to buy the property, fix it up and then either sell it or rent it then you are through.
But if you want to wholesale the property to another investor, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. This typically is investors. Then again go to the assessors website and find their name and mailing address. And again use beenverified.com to get the best and latest contact info.
Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it.
Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'
Real Estate Agent · Orlando, FL · Member since 2015 · 177 posts · 54 votes
9y
Don't worry about those business cards. Start hitting neighborhoods, driving for dollars, use zillow for FSBO, use an agent to find you solid deals. My first wholesale was from an absentee homeowner right off zillow.
Stop analyzing and start doing. Get something under contract, throw bandit signs, go to REI meetings. Let people know who you are.
Happy wholesaling and look forward to hearing about a success story.
Also I am just up in Orlando so if you need some help shoot me a message.
Realtor · Tampa, FL · Member since 2016 · 24 posts · 6 votes
9y
Hey Theresa Weir
My partner and I actually purchase properties. PM me when you have the opportunity so we can connect. We could potentially be your largest purchaser. Looking forward to hearing from you soon!
Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
9y
Hi Theresa , I am an investor and wholesaler here in Orlando. Welcome to BP.
I also host a monthly BP Meeting here in Orlando and you can meet many local investors learning more about investing. It is on Jan 10th at 6:30 PM. Here is the link if you want to join us. Hope to see you there. The topic will be how to find, evaluate, contact owners and sell to rehabber VACANT HOUSES.
My advice to new investors is to start wholesaling properties. This is the quickest and best way to get started with the least cost.
First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. There should be some. Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close.
Many times the owners don’t update their mailing address with the county so you may get the letters returned. I use beenverified.com to get the most updated info. It costs me $24.95 a month but it is well worth it because it also gives me email addresses and phone numbers.
If you are going to buy the property, fix it up and then either sell it or rent it then you are through.
But if you want to wholesale the property to another investor, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. This typically is investors. Then again go to the assessors website and find their name and mailing address. And again use beenverified.com to get the best and latest contact info.
Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it.
Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'
Through my experience I don't think you'll be able to wholesale probate properties not even from the MLS.
The attorneys representing an estate are looking out for their clients interest and would want the most and best price for the property. Unless the list you have has the PR self representing the estate. In CA it's known as in pro per.
Congratulations on you taking the time to physically going to the county court house to retrieve a free list.