I have been searching in zillow, redfin, and other sites about buying a single FM or duplex /triplex etc property which can give cashflow it's hard to find yet.
please suggest where to look for them ? one approach is buy low but have to find foreclosures or proof with major work needed, I prefer minor or less work which can be rented soon.
help me how to find, mostly looking in north tx, sf bay area but other suggestions are welcome too.
hi @Cameron tope, thanks for your response, I agree. do you suggest any online site or county auction etc ? just wondering on the good starting point, and how to you define local wholesalers ?
I am assuming you are not talking about local realtors. do you mean rich dad or something like that
@Ron Singh Mailing is a good way to get in touch with off-market leads. These are people who have not yet done the work to list their house the traditional way. However, the list is key. There are a lot of investors sending to the same people.
You should consider mailing to people who aren’t on every other investor’s radar. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them) but they are getting multiple offers to buy their home. It's hard to stand out.
There are some NEW owner-occupied segments with people who share motivating factors for selling their home.
Seniors with Long-time Ownership: often ready to downsize or transition to assistance.
Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.
Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.