What is the best resource to find vacant or distressed properties in the Wichita, Ks. area? Or any area for that matter.
My thoughts about these kinds of properties is to find them before they go on the market, because investors look at the MLS first. You could try Craiglist of course, even place an ad there. Padmapper is a great site to get off market deals from landlords. Ask them if they are interested in selling any properties in their portfolio. Of course networking is great, ask any realtor you are working with to alert you to distressed properties as soon as they find them so you have a change before other investors snap them up! Go to the Real Estate clubs...there are all types of people there. Usually the first one is free.
There are tons of places to keep looking for distressed properties....these are just a few to get you started.
Best of luck to you!
Hi Jason - you want to get connected well with other investors, as a given, but also people like myself. What do I do? I match properties with renters to put it simply, and lease and manage homes. However, what I really do, is collect data and use it and share it! I know what is hot and what is not often because I am out there showing, looking, talking and doing and I can either visually see what distressed properties there are, or listen to my network of investors, realtors, landlords and other property managers. I stay very plugged in. You should too! Bigger pockets is a great start, but really getting to know the Wichita area and the suburbs. For example, I noticed a huge amount of interest and calls from renters wanting the Haysville area, just 2 miles from Wichita. It used to be a rodeo town, small and quiet and country, until the tornado of 1999. Then lots of military, Learjet workers, many school teachers and more began settling there. After new builds began, the older neighborhoods helped first time homebuyers and you had lots of young families. Now, all those homes are becoming distressed in a way that aviation layoffs, university graduations (job moves) and more have made them more than plentiful. So, after noticing there were barely any rentals, I contacted one of my investors who flips homes, and he sent a buyer out and sure enough, there are plenty! He has picked up several in the past few months, made them practically brand new inside, and I have leased them at premium prices to well-qualified military and local folks who are reviving the neighborhoods and creating more revenue for my investor. So just get out there and work with others! There's many other stories all over the city and surrounding areas. Glad you're doing it!
Thank you for reaching out! Would love to talk with you. I am new and just getting going. If you can help find distressed properties at a good price that would be great.
Very familiar with Haysville. I have live in Wichita for 43 years. They are growing.
Hustle is how you find them, there is no easy way, my uncle is a realtor here in the area. Every house I have bought I found and had my realtor show me the house. My last 4 houses have been with out realtors...I have bought several in haysville with in the last year. They have very good returns, so do my others in the wichita area.
HAve you bought your first house yet?
I have not. Financing!!
Jason, You cant count on many realtors to go find you a great deal that they will not make much off a commission on. So Look here on bigger pockets for ways to search. If an wholesaler is selling you a house it means your paying more then you could have, if you had found it first.
Good luck and let me know if you have any questions I will try and help.
I use my own marketing to develop my property leads.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing