Howdy! I'm new to wholesaling, but I've been out on the road over the past couple days and have found a couple properties that are vacant, distressed, and in highly profitable rental areas. Two of them that I looked up are owned by LLCs, and one of them is FSBO. I was able to find phone numbers for both of the LLCs and was wondering if you guys had any tips?
Should I call both of these groups to ask about their properties or just stick to mailing? Should I be worried that they're owned by LLCs (which must be other investors right) and that they're not working/cashflowing?
I would just go ahead and call them. Sure, they might be owned by other investors but never assume anything. Just because it's an LLC doesn't mean Jack Spit. The LLC could no longer be active, or the owner could be out of state and unable to keep an eye on it.
Just call and ask :)
@Patrick Britton : I'm with you Patrick. I have no problem cold calling anyone, but of course I can sell an Eskimo a cup of ice in Alaska.
If if you have their number then you are that much closer to closing a deal. Call the LLC and see if they are still in business. Who knows that might have been an investor who was going to flip that house hit ran out of cash for the rehab and he might just want to dump it. With a phone number you can actually call them and hear the time in their voice and that to me is a great way to build rapport and have the upper hand in negotiations. I sold cars and was in sales for many years before I started wholesaling but that is what made me a negotiations NINJA my friend. I say dial that number and go for it.
haha that's got some typos sorry like tone in their voice not time.
I called the LLC I had the number to yesterday and woo! It was the personal number for a local investor. He explained to me that he had just sold the house last month, which is a bummer. He did however give me the contact information for the people that bought the house. They haven't touched it yet so maybe something's amiss and they'd like to sell it.
The coolest part is that the person I contacted buys land in my area, then builds his own rentals and sells them when they're fully paid off. He then told me he's still looking for more property and if I find anything to let him know!
This is amazing. I feel so good, even though I haven't really done anything yet. I've got someone I can offer a service to and hopefully learn from if I try to build a relationship with him. Yeah! Pumped!
Join the Largest Real Estate Investing Community
Basic membership is free, forever.