How do I utilize BP to find wholesale deals in my area?

16 Replies

Hi everyone!

I am new to real estate(in the Orlando, FL area) and new to BP, and I wanted to know if it was possible to find wholesale deals in my area using this site. I've noticed this is a widely varied site used for networking and gaining knowledge, but I'm not exactly sure about if I can find wholesale properties here. I know that might be a silly question, but I am here to learn and I have no shame in that. 

PS. If you have any tips on the best free/and or paid websites to find motivated seller leads, that would be greatly appreciated.

I hope everyone's day is going well!

I look forward to hearing from you :)

There is no easy way or any web site with motivated seller leads.  Sorry.    You're going to have to do your own marketing to find these folks.  There are ways to get lists of various groups.  Then you'll need to do some sort of marketing to find the actual motivated sellers in those lists.  Listsource and Melissadata are a couple I know of.

@Jon Holdman

Thank you Jon for the help! 

I'm aware that I'll have to be putting in work, such as marketing in my area to find motivated sellers, and I am ready to put in as much work as possible.

I will definitely check those lists out.

Thanks again! Wish me luck! 

:) Have a good one Jon

@Nydia Hawthorne  

I agree with Jon's points, but I will try to answer your question specifically about BP.

You see deals posted and you can also post what you are looking for and make contact with wholesalers in your area (When you say fine wholesale deals on here I am assuming you are thinking of buying deals from other investors, you won't really find distressed sellers trying to unload places on here).

Caveat is if you want to do that stuff you can only do it in the Marketplace forum.  To post in or reply to posts in that forum you do need a paid membership.  So you might want to look at that forum first (Pretty sure anyone can read it, just not post to it) to see if it has what you are looking for before paying for a membership unless you want to upgrade anyway (And there are lots of reasons to upgrade).

@Shaun Reilly   

Thank you so much! 

and I also agree with Jon's points. I am in no way trying to find the "Easy Way" for anything. I am a hard worker and as I previously stated to Jon, I will put in as much work and hours as possible.

Yes! That is exactly what I meant by asking where to "find wholesale deals" on here. I should have made that more clear. My question at the bottom asking about where to find "motivated sellers" is a completely different question that is unrelated to the question of "finding wholesale deals" on BP. I should have asked that question in a different forum.

I have seen many reasons why to upgrade my membership and I will do that as soon as possible.

Again, thank you Shaun! I really appreciate you sharing your knowledge with me.

Selling a wholesale deal here would be a lot easier than finding one.  Desperate buyers just aren't going to be posting here or anywhere that they want to sell their house for less than its worth.  

Properties advertised on craigslist (or anywhere else) are unlikely to be "motivated sellers".

Check if bandit signs are legal in your area before putting them out.  They're illegal almost everywhere.  That's why they call them "bandit signs".

Being top of mind all the time is how you will find the good deals.

It takes time. The overwhelming majority of people that call me from my advertising are looking for much more than their home is worth.

Marketing is a never ending thing. You need to keep getting your message out there so when someone does want to dump a property quickly you are the 1st one they think of.

I moved to a new state earlier this year. I haven't done any marketing and haven't looked at the MLS in this new area. But, I've purchased 7 properties in this new area in the past several months, all from wholesalers who I've met on BiggerPockets.

The key for me was to build a reputation here for being a serious buyer who is ethical and will always close on deals they commit to.  Building that reputation took time, but it was well worth it and has paid off in many ways.

Which is what you need to do, meet the J. Scotts, understand what they buy, then find what they want, then contract-flip-rinse and repeat. Leave Harry Homeowner sellers alone unless you have a buyer. Doing this bass ackwards and you''ll find trouble. :)

Hi @Nydia Hawthorne Welcome. I am new to BP and the investing world in general and also beginning life in this business as a wholesaler. I can't offer much advice in that area just yet since I haven't gotten that first deal under my belt. But I can still say "HI". This site as you may have already begin to see is a great resource. No where have I seen a resource like this that also gives the advice and help to others so freely!

If you haven't already done so and can spend some time there is a thread on here that is well worth the read for us newbie wholesalers. The Truth about Wholesaling!. I must warn you, it is a LONG one. It began back in 2010 but there is good information there on how to get started right on being a good wholesaler by @Bill Gulley  and others (sorry if there are others on this thread that are there and I left you out, just can't remember them all). The wholesaling forum on the whole has some good things where folks have taken the time to provide links to various areas all in one thread.

Be sure to BUILD those relationships with folks here! Read, Read, Read and Listen, Listen, Listen!

Anyways, won't bore you, just wanted to say "Hey", "Welcome" and wish you nothing but the best in all your endeavours!

-Marvin

Updated about 4 years ago

Just had to make this update after re-reading my post. the Post was by Will Barnard, the others mentioned in this thread shared their input.

Updated over 3 years ago

Just had to make this update after re-reading my post. the Post was by Will Barnard, the others mentioned in this thread shared their input.

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