Orlando, FL · Member since 2015 · 8 posts · 1 vote
Hello all! I am a wholesaler in Orlando, FL and in Central, FL as a whole. I was using an MLS yesterday belonging to a RE Agent friend of mine to find homes bought in cash recently. I found a bunch of properties purchased in cash and some were blatantly investment buys. While I was able to find those properties, how do I find out who the buyer was? I always see that using an MLS is a highly effective method to building a strong buyers list. Any idea on how to find the buyers of those properties?
Go to the county assessors website and it will show you the new owners name, address, when they bought the property and how much they paid for it. For Orange County it is http://www.ocpafl.org/Searches/ParcelSearch.aspx
I used the court of clerks site and the properties I took from the MLS came up but I couldn't find the contact and some didn't even have the name. I just have to keep trying it, I guess. Hopefully I have better luck next time.
@Ricardo Cardona Do you have a deal for sale? If not, I would focus on that before you worry about a buyers list. If it is a good enough deal in central florida I will take it off yrrr hands no problemooo
@Justin Stamper I kept hearing and reading that a buyers list was the first thing I should have. I do thank you for that. I will just begin my search for properties. Anywhere I'd be able to contact you?
@Ricardo Cardona IDK man, do what you want. Honestly I think trying to start off wholesaling in Orlando is probably the toughest job in real estate you could pick right now. There is a huge shortage of deals and a huge supply of "wholesalers" so its a tough tough market for a rookie.
If you want to generate you own list of properties here is my advice.
My advice to new investors is to start wholesaling properties. 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.
As you mentioned above you 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.
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.'
Wholesaling is what you do when your deal flow is greater than your appetite for keeping deals that don't fit your own criteria as an investor.
An investor is someone who has the funds, capacity and other resources and can acquire a property and keep for a year or more, with the intent of receiving certain benefits in due course.
A speculator is someone who buys with the intent of improving and flipping.
Most people who call themselves wholesalers are wannabe dealmakers who don't have the capacity to close on a deal themselves. It probably makes more sense for you to focus on lead generation and the value added opportunity than the final execution.
If the deal ís right, the money will always appear.
Buyer's list are cool but with no property they are almost useless. Once you find a deal that you can wholesale just make a big push with bandit signs. I showed a property 15 times in 24 just from bandit signs. Thats how you build a list. Meeting people and building rapport with them. Then you can focus on targeting their specific criteria.