Disclaimer, I'm a new guy so my questions may seem dumb...but I'll get there soon :)
I'm studying my market, specifically the most recent cash transactions in my target area for where exactly investors are buying and the prices they are paying. I'd like to reach out to a few of these buyers to see if they are interested in me wholesaling some houses for them. My question is, many of these new owners are LLC's on this list...can I assume these are investors rehabbing or renting these out? Should I prioritize these over actual people names? For example, should I reach out to the ABC Company, LLC's before the John Doe's? Any guidance would be greatly appreciated.
Luis look up the filings on your state's secretary of states website.
You can usually find the managing members listed in the original and annual filings. Sometimes it will just be their attorney as the contact if they want to remain anonymous.
Thanks @Joel Owens . So that sounds like how to get the actual names attached to the LLC's. That's a great idea. I was actually just thinking googling them to find a number I can call. That way I can also see if they have any rentals being offered or properties for sale, increasing the likelihood they're a potential investor I can work with.
Just to clarify my original question... The cash transaction list I'm working off has hundreds of records. First I'm concentrating on repeat buyers (which aren't many - it's only a 45 day period) and then I'll have to strategically prioritize. Should LLC's be worked before individuals? In other words, do most investors buy under their personal name or do most have LLC's they operate under? If the latter, then my life will be made easier and I can use Joel's advise to get to the actual owner so I can speak to them. I'm obviously not planning on calling every cash buyer on the list.
Joel is right, checking with the Secretary of State is the best way to find the owner. But I will add, as a wholesaler, the key is to find great deals, not build a big buyers list. If you find great deals, you will be able to move them.
"In other words, do most investors buy under their personal name or do most have LLC's they operate under?"
It's all over the place. You need to mine the data. There is hidden gold there if you spend the time.
Some sellers/owners do not want to be found BUT if you find them that usually means others have not. You have shown the seller/ owner you are a go getter and you do things others do not to win business.
I have seen some people own 50 properties in their own personal name (not recommended). I have seen some LLC's with intricate partnerships for one property. I have seen one LLC but it's all the same parent company.
Example one property is SOK llc 1, another property shows as SOK llc 2 etc. but it all goes back to the same company or person.
Thanks for the clarification gentlemen. @Andrew Syrios I completely agree with finding good deals first. I'm actually doing both at the same time. Mailings are going out little by little so in between leads, I'm sharpening up my market knowledge and might as well get acquainted with some of my target area's buyers to help me with that. In the process, I may just find the 3 or 4 I need. Just trying to stay productive while I wait for my marketing pieces to arrive. And before anyone says it...yes I'll be attending my first local REIA (DREIA) this Wednesday ;) I'm hoping to see some BP members there.
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