What would you say........

Question

Is "THE" best source to find motivated seller leads that you know of?  And I mean something that can be wholesaled easily for a few pennies on the dollar. Whether that be probate leads, REO leads, foreclosure leads,short sale leads, etc you name it. What source of leads you know will blow the competition by far?

Account Closed · Answer

Joe Gore

Samantha M. · Answer

Absolutely. I am keeping tabs on the buyer and the title company the whole time. I thought thats what everyone did when they wholesaled a house. Dont they want to make sure the transaction closes?

Account Closed · Answer

That is good so when you sell your contract you make sure the buyer closed on the home.

Joe Gore

Samantha M. · Answer

No thats absolutely awful and I didn't even know that was a common practice. If I wholesale a house I let the homeowner know, and in my assignment of contract it states this contract is NOT assignable.

Account Closed · Answer

That is correct. Now everyone made money and left the home owner hanging. Do you think that is right?

Joe Gore

Antonio Bodley · Answer

@Robert Leonard Word is going around off market vacant homes are right for wholesale leads. I have found several vacant homes just by traveling different parts of town myself and yes it was not as easy as people think. Now I can find lots of vacant off market homes and on the internet, which cuts down my time having to search neighborhoods on my own. It may cost me to do it, but it does saves me time. Leveraging my time is important.

Samantha M. · Answer

@Joe Gore Do you mean wholesalers that "daisy chain" the contract and never get the house sold. For instance, the originally wholesaler (wholesaler A) gets the contract on the property.

He then assigns it to Wholesaler B, who then assigns to Wholesaler C at which point the price to purchase has become cost prohibitive after everyone tacks on their assignment fees.

Is that what you mean?

Account Closed · Answer

I was talking about when you sell your contract and then the contract is sold again because most wholesalers are only interested in selling the contract not the home.
	 
	 Joe Gore

Samantha M. · Answer

@Joe Gore What do you mean "where does that leave the home owner"? If the house closes, the homeowner walks away with the money.

Account Closed · Answer

Last year, I went with a few wholesalers, and the home owners wanted $1000 or more to let a wholesaler put it under contract, and one home owner said you can put my home under contact without $1000, but you only seller the contract to an end buyer who is buying my home. The wholesalers got upset and left. I can see where the wholesalers want to sell the contract but where do that leave the home owner.

Joe Gore