real estate wholesaling/

6 Replies

I am a real estate broker just coming back into the field again. I just got my MLS active again. Where can I start the progress of wholesaling. I am on my own I do not work for any other agency. I just don't know where to start. I would like to utilize my MLS. I used to be a Buyer Broker, I am even sure yet how I will market myself just to get buyers again. Need Help, its been about 5-6 years and a lot have changed.

@June Alexandrea Welcome back to RE world!

IMO, the hardest thing in RE is to buy at the right price. If you can buy a property at the right price, you generally will not have a problem with your exit strategy whether it be wholesale or flip.

Being a RE broker gives you an advantage that you have access to MLS, so I would say understand your market really well to the point where you can guesstimate an ARV within +/-5%. If you have a good deal, you won't have a problem finding a buyer for it.

@June Alexandrea

Welcome back to the exciting world of Real Estate. I am an independent broker located in New Orleans.

Sending direct mail to Absentee Owners and/or properties with tax delinquencies would be a good way to start a marketing campaign for wholesaling properties. Target a neighborhood and get owner information from the county tax assessor's office. Good luck!! Hope this information helps!!

Hi @June Alexandrea !

I also have my license, and I use it for comps, so I can figure out how much to offer. Very helpful!

It's not a great way to find properties to wholesale, though. You'll do much better negotiating directly with sellers, using direct mail, signs, etc. There are lots of suggestions on this site about how to do this.

In my state I have to disclose that I'm an agent, check your state's rules.

Good luck!

--Kirsten

Thanks to everyone for your comments

The best deals are the one's that no one else knows about.. As @kirsten Sitnick stated, you will most likely have to disclose to seller that you are a R.E agent.

Hey June,

There is a lot of information on BiggerPockets (BP). The best place is in your back yard (county, city, etc). You could drive for dollars and see if you can spot some for rent signs or some for sale sign and start calling. These could turn into fresh leads. This strategy takes time but it has got me a few leads. Another thing you could do is use your MLS and determine where the most properties are being brought and find the average amount that your criteria is being sold for. This will help you determine a good price point to target for wholesaling or flipping. Lastly, a social presence can make a good impact so use that social media and stay consistent. This is what I am working on now. Even my company is new this is what isa getting us out there. Congrads ahead of time and good luck. :)

Terrence

REInvestor

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