Finding more off market deals / wholesale leads. Tips?

Question

Over the past 9 months I’ve bought properties from 4 different wholesalers in addition to the MLS in Indianapolis, IN. As an out of state / long distance investor my flipping, rental, and BRRRR business has some traction so my goal for the month of July is to triple the relationships I have with different wholesalers in the market. I have a great boots on the ground team and am starting to scale. The goal is to do 2 deals a month in the Indy market over the next year. As the great Brandon Turner suggests, real estate is just a big funnel and I’m trying to fill the top of my funnel with as many qualified leads as possible.

What suggestions do you have for finding wholesalers and/or identifying great off market deals? I’m specifically focused on Indianapolis, Seattle and Northern Idaho but I’m curious about what has worked for others in other markets as well.

Thanks for the input!

Jonathan Greene · Answer

I wouldn't try to add more wholesalers, I would add your own marketing into the mix to beat the wholesalers to the deal, especially if you have good boots there already. You can also use something like Deal Machine and hire drivers and decide on the postcards to go out. Their whole team is actually in Indianapolis for the most part as well.

Kevin Douglas · Answer

Thanks for the input @Jeffrey Donis I agree, relationships often win! The problem I’ve ran into it it’s a two way street and have found that I have better luck having a wide net and am open to doing deals with anyone as long as they can bring a good deal to the table.

@Jonathan Greene From my perspective, I feel like wholesaling / finding off market deals is a business in itself. Right now I'm really focused on the repositioning side of the business and have financing partners with really good terms and great contractors lined up to make it happen. I'm not sure if the ROI on my time would be as high if I started marketing myself. I may be wrong, everyone is suggesting I start doing my own marketing. Do you have any tips on getting started doing my own marking? I've been thinking about stating to do that in my own market in Northern Idaho. I’ll check out deal machine, I’ve also heard of the carrot websites. The big hangup for me is the reassignment contracts piece. Do you know of any good resources for learning more about that? Thanks!

Aaron Singer · Answer

Hi Kevin,

Would love to connect on Indy investing - sounds like you're doing amazing things! Sent you a request to connect.

Indy specific: In regards to finding wholesalers and off-market deals, I've found a handful through the Out of State Investor Facebook Group. I'm probably on 3-4 lists at this point. In addition, there are deals that are posted in the FB group.

Can't speak to Idaho or Seattle, but I would also like to pick your brain on Idaho :)

-Aaron

Tyler Wagner · Answer

Hey @Tara Lindgren,
We want to be part of your local tribe. Come to our meetups the second Thursday of each month at Laughing Dog in Sandpoint and meet wholesalers in the area. We even have a branch of our real estate team doing some wholesaling in the area. We are having the most luck in Priest River and Bonners Ferry.

Tara Lindgren · Answer

Hi Kevin, I am in Sandpoint (born in Cda). I'm trying to do the same thing- contact off market owners in our local area. I'd love to connect and discuss strategy with you some time! My husband and I don't have a local "tribe" with REI knowledge or interest, so always looking for like minded people to learn from. We mostly have out of state investments but really want to offer local people affordable(ish) housing!

Nick Giulioni · Answer

Hi Kevin, please leave me a message. Would love to share my experiences and help you in any way I can.

Ari T. · Answer

@Kevin Lee, kevin truthfully staying active in BiggerPockets will generate first hand wholesalers. But recently clubhouse meeting will funnel tremendous amount of information and networking if you find the right room(s). At the end of the day, it is all about networking. I see all meetup groups are coming back in person which is a great news. Wish you best.

Jeffrey Donis · Answer

Hey @Kevin Lee. I'd recommend Facebook groups like @Aaron Singer recommended. When my brothers and I were wholesaling, we used Facebook to find most of our cash buyers. So, I know there are plenty of wholesalers looking for great cash buyers there! You can search for "Real Estate South Carolina" for example, and I'm sure there will be a good number of groups that show up. After that, I'd try to build good relationships with your wholesalers by simply getting on the phone with them. The cash buyers that took the time to build relationships with us became our #1 buyers.

Kevin Douglas · Answer

Hey Aaron- glad to connect and thanks for bringing up the FB group. I joined it a while ago and kinda forgot about it! I’ll check it out again.

Northern Idaho is about as hot as it gets... glad to share my perspective.

Justin Robinson · Answer

@Aaron Singer hey Aaron do you invest here in the Phoenix area? I'm looking to connect with any experienced wholesalers in the Phoenix area, I'm will to help for free to learn the ropes. Lmk thanks much appreciated.

Finding more off market deals / wholesale leads. Tips?

Finding more off market deals / wholesale leads. Tips?

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