first deal

4 Replies

Hey guys I'm a newbie in the real estate investment world and I have a question. Im looking to wholesale a couple properties to get some capital saved up then then I want to hold and rent properties, but many properties in the area im looking to invest in are under contract by realtors. I know often times its tough to get a good deal from a realtor I was wondering if anyone had any experience or insight in dealing with realtors for buying investment props to wholesale?

Everything is based on price,If the price works, it works, doesnt matter where the property is listed. some home owners will take a significant amount less in order to sell the property quick, some wont, depends on the circumstances. Most times if a property is truely a wholesale price on the MLS it wont be seen by many people as in investor will snatch it up quick

Often REO's are listed with a realtor, often they will take less and many of the wholesalers around here purchase them through realtors. My first rental was purchased from a realtor, and fits the 2% rule!
-Scott

Thanks guys, the couple I've been looking at have been on the market for a little while and i know alot of the good deals dont stay on the market for long so i was skeptical to begin with. But thanks for the advice.

I have another question if yall don't mind. I have seen a couple distressed properties that are vacant. One property has the grass over grown and city ordinances all over it but not in foreclosure that I can see. I've looked on the county data website and the number they've given for the owner is disconnected, how would you suggest finding the owner for a home like that? Thanks in advance for your replies.

There are a lot of possibilities with today's internet. If you have a title company that you deal with, ask them if they can find out who the current owner of a property is and if it's in foreclosure. Sometimes this is easy and sometimes this can be difficult to research, but it's definitely a possibility. If you want me to give it a try, feel free to email me. :)