I'm new to real estate but I've been learning and researching for about 6 months. I'm looking for a property in southeast Wisconsin (waukesha, west allis, even menomonee falls areas) that I can renovate and gain some equity in. I'm hoping to use it down the line for a HELOC and possibly as a down payment on a duplex. I've made a couple offers on MLS listings but I'm quickly realizing that is a terrible way to find a fixer upper.
I just started sending letters and "driving for dollars" but does anyone have other ways to find homes in need of renovation in a market like this? Maybe wholesalers?
Mitchell, you'll want to be on every wholesaler in your areas list. Look around on FB real estate pages in the area you're looking to invest, as well as on craigslist and ask to be added to their buyers list. On top of this, you could use a skip tracing service to find phone numbers and make cold calls, as well as knock doors. I have some success in handwritten letters too so just another thing to try out.