Rental Property Investor · Philadelphia, PA · Member since 2018 · 26 posts · 11 votes
We are buy and hold investors in Philly and own about 7 doors right now....we just added google PPC to our marketing and got a lead outside of our area in Delaware. We do not have yet have any sort of inked deal with this person. I am just trying to work my way through all scenarios. The property is a tenanted investment property and they are motivated and want to get rid of it. My goal is to help this person even if I can't buy their house. I don't know the area well and I don't have any connections in that area but what are the options? I am not a wholesaler....I feel like in an ideal world I would wholesale this property. Are there other options if you aren't wholesaler - have you been successful in listing properties on BP? If you can't do something with the property, if you can't wholesale it personally, is there a market for leads? thanks!
Great question! I can tell you from long experience that the best wholesalers are those who are not TRYING to wholesale, but rather use it as a tool in their kit. Here's a few options off the top of my head, stream of consciousness, no particular order:
Evaluate and make an offer on the property just as you would do for yourself....in other words, treat it like a property you are seriously interested in. If the offer is accepted, write the contract.
From there you can take it down and resell, or offer the contract for sale. Either option is a wholesaling strategy, and I would likely do the latter. If you made a good deal, selling the contract should not be a problem, and yes, I and many others have successfully sold properties and investment opportunities on BP.
You could also use the search bar at the top. As a pro member, you can do an enhanced member search for the area where the property is. Look through some profiles, send a few messages and get connected with the locals who can make the deal happen. A JV of course as @Bryant Brislin mentioned, or you could act as a bird dog passing the lead on for a fee, or go the distance and find a likely buyer.
So to answer your questions, YES you can successfully list a property on BP. YES, there is a huge market for competitive leads, and YES, you could wholesale it on your own.
Rental Property Investor · Philadelphia, PA · Member since 2018 · 26 posts · 11 votes
3y
@Bryant Brislin thank you for your succinct answer and @Jerry Puckett thank you for your detailed one! Both are great answers and what I needed to hear.
@Bryant Brislin thank you for your succinct answer and @Jerry Puckett thank you for your detailed one! Both are great answers and what I needed to hear.
I wish I could contribute to this post but I can't.
What has been said above is just crazy solid advise.
I completely agree with the handsome gentlemen above me! Both of them!
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
3y
ALL wholesaling means ins flipping a contract. Some guru made up this term and now everyone is a wholesaler. Simply find a deal and flip the contract. Just post it in the local RE forums, if its good it will be gone in a day. This one would not be for a wholesaler, but for another investor wanting a rental. Again, if it's a good deal post it, it will be gone in a day or so
Contractor · Chadds Ford, PA · Member since 2015 · 567 posts · 460 votes
3y
Hey @Marisa Amirian! If this deal is still alive give me a shout I have a few friends that buy in DE that might be interested depending on where it is, and a few more that wholesale properties there that might want to JV on the deal with you.