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Wholesaling

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Alex Ferranti
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new wholesaler looking for help finding good deals and investors

Alex Ferranti
Posted Apr 29 2024, 11:40

I'm starting out on my wholesale real estate endeavor as I'm already a licensed relator in RI and Mass. The good part is I have access to MLS the bad part is I'm struggling with finding houses below market value as prices in the area are already incredibly inflated. With this being the case what is the best way to find deals that are profitable for everyone involved. Also if there's any investors looking for new properties in the area please reach out as I would love to connect.

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David Ramirez#5 Wholesaling Contributor
  • Wholesaler
  • Tampa, FL
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David Ramirez#5 Wholesaling Contributor
  • Wholesaler
  • Tampa, FL
Replied Apr 29 2024, 14:20

Hey @Alex Ferranti

Trust me, you are not struggling; it's just not as easy as it sounds or as gurus portray it online. You are not going to find a deal; a deal comes when you recognize the potential in a property and then make an offer for it to become a deal. It took me six months of consistent marketing to get my first deal. 

There are many ways to market directly to sellers: Cold calling, SMS, Direct mail, Door knocking, PPC, PPL, SEO, Facebook ads, Radio, etc 

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John O'Leary
  • Lender
  • Winter Park, FL
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John O'Leary
  • Lender
  • Winter Park, FL
Replied Apr 30 2024, 06:40

I recommend focusing on targeted lists for lead generation and training some cold callers. Absentee owners are a great target, especially in the Northeast. Consider reaching out to 'reverse snowbirds' who may be looking to sell. I would also be well versed in creative financing options to maximize opportunities.For MLS listings, target homes that have been listed for 60-90 days. Look for potential seller financing or Sub2 opportunities among these properties. Like @David Ramirez said it takes time, and you can't be afraid to spend a little money.

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Samuel Diouf
  • Real Estate Agent
  • Columbus, OH
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Samuel Diouf
  • Real Estate Agent
  • Columbus, OH
Replied Apr 30 2024, 07:23

You shouldn't wholesale deals on market as it's a conflict of interest. You'll have to create different marketing campaigns directly to property owners and find those hot off-market deals. 

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Gustavo Munoz Castro
  • Specialist
  • Bothell, WA
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Gustavo Munoz Castro
  • Specialist
  • Bothell, WA
Replied Apr 30 2024, 23:52

Prospecting. Start by targeting high equity homeowners, not properties for sale on the MLS. Reach out via call and ask if they would be interested in an offer on their property? Ask that question 30-50 times per day and you will get some great conversations.

Its a grind. The good news is that once you gain traction you can hire a VA to cold call for you and then just talk to the most motivated sellers. I run a call center for Real Estate so I know this is doable.