I'm curious of others experiences trying to find wholesale deals on Craigslist. I've received calls from sellers and have went to look at their properties. In talking to them it seems like they've probably called every investor that advertises on Craigslist. Certainly understandable trying to get the highest price. It seems like CL may be better for rehabbers and buy and hold investors than for wholesalers. Anyone else experience the same?
CL in my market in highly saturated but I do look every night. I usually find 1-2 deals per year that work for what we do.
Are the leads you're getting from sellers calling in response to your ads? Or are you calling ads posted on CL by sellers? If it's ads you're calling, care to share your search criteria? Thanks.
My experience is exactly what you mentioned they call every number on their usually wasting your time looking for offers or even a bidding war lol! I have not invested much time into this but some claim it works for them? I think you are better off calling for rent ads and FSBO ads as soon as they hit and will most likely have better chances of finding a deal that way but again I felt like it was a waste of time but I want to hire a VA to scan areas like this for me. Good luck!
They are ads I am calling. I search for homes that are what our company would normally sell but at a price that works. Mostly these homes are listed by other smaller wholesalers. Its hard to truly explain this bc I am familiar with my market so I can look at the listing an then look up comps and estimate rehab, I then calculate what I would have to sell the home for fully renovated and what it rents for and then work my figures to come up with my offer. Hope that helps a little.
@Sean White It's probably safe to say that you're going to find a lot more payment take over deals on craigslist than you are wholesale deals.
FSBO and FRBO classifieds have always been a good source of deals, but you do have to dig. Unfortunately free online classifieds have only increased the amount of crap 100 fold compared to what we used to see in newspaper classifieds. Probably the most annoying is calling what looks like an FSBO and getting a realtor who's trying to get buyer leads.
As for search criteria, unfortunately I can't search for people with no equity. So I have to just ask everybody.
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