I am a cash buyer looking to build relationships with wholesalers in KC Kansas City, North NJ New Jersey and CT. What is the best way to build these business connections and find wholesalers?
Well I can think of 3 easy ways to find wholesalers.
the first one is on bogger pockets, use the network feature to locate people in your target area and see if they wholesale
The second on is on linkedin. Same thing, search profiles for wholesale and then geotarget. You can also join sub-groups on linkedin and I am willing to be there are a least a couple of wholesale groups in those areas.
Third, use the fsbo section of craigslist. You can contact sellers on the cheap properties, many of them will be wholesalers.
Now for my question to you. Why NJ, KC, and CT, that seems like a random list
I live in Pittsburgh PA and we have the #1 cash flow market in America, why not us?
My hometown pride is forcing me to ask that question
To your success
I think your best bet is going to local clubs in those areas, it would probably be a good thing to go visit the area your going to invest in.
@Josh Caldwell is right BiggerPockets is a great place as well, I assume you where saying BiggerPockets not bogger pockets right @Josh Caldwell?
yeah, I was really aiming for Bigger Pockets, I type directly into the box without spell check and sometimes it bites me.
I too look in most of these markets as well as Indianapolis and Ohio. I have looked at PA (more Philly though) and just never got comfortable that I knew enough to invest (being from out of town) or that I had help I could trust.
OK...I'm a bit cynical these days toward wholesalers, so I'll qualify this first statement with that admission. You can usually throw a rock on BP and peg at least 25 without ricochets!
Now that I have that out of my system, here are my best recommendations...
- Go to the BP Market Place and place one add for each of your target locations. (Experienced BP'ers have keyword alerts set up for the areas they work.) Tell them exactly what you are looking for, being as specific as possible about the criteria for property, neighborhood, schools, Max/Min ARV, Max/Min Rehab, Max/Min purchase cost. Also, if you have competitive advantages around financing (i.e. you are a cash purchaser and really can close quickly) tell them.
- Attend local REIA meetings in each location. Have business cards handy. Have a 1-page printed flyer with the information I just gave you above clearly laid out and understandable. Give those to everyone you meet, whether they describe themselves as a wholesaler or not. The reality is the big players will have a strong deal flow and will come up with deals they can't take into their existing pipeline. Plus, they know lots of people.
- Fax those same flyers to every realtor in each of those markets. Realtors know everyone! Plus, they get properties they know are only suitable for an investor. If they have your information and criteria at hand, they can handle that as a pocket listing, which means they get the entire commission.
The other tricks you can get all over BP. Those are my personal favorites.
I dont like the Philly market but I do have friends that are doign quite well over there, Pittsburgh is a totally differant planet from Philly. Both Forbes magazine and the Wall Street Journal said we were in the top #2 nationally for cash flow investing. I see cash flow as the key to long term wealth.
I hope that helps
Call every bandit sign you see for WE BUY HOUSES. Most of these are wholesalers, so chances are they have properties to sell. Once you get them on the phone just tell them what you're looking for or have them add you to their list.
I don't know what type of wholesalers but if you're looking for plan wholesalers that sell house plans (that you can buy cheap) you can use resources like: House Plans at LotPlans.com . This is a way to build homes without paying high architectural fees
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