Wholesaling LLC owned properties

10 Replies

Hello BP. I want to know what people think about LLC owned properties for newbie investors. A lot of the properties that I have found while doing my due diligence; it appears that the ones that look like a "great" opportunity and has the most potential, most of these properties are owned by local LLC companies. For example, I found a property with a lot of fire damage on a multi family. I couldn't find the tax records online and had to go to city hall to get the information that I needed. It turns out that it is owned by an LLC company (just like many others I have found). At this time I have limited funds to work with and I want to jump on these properties as soon as possible. What is the best thing you would suggest for me to do to flip one of these properties and make a decent profit? Or are these kinds of properties out of my range right now until I build more capital and get more experience?

Thanks.

Most people who buy properties with the intentions to flip purchase them under the LLC. I would say you should wholesale some deals to make more money then start flipping homes with the income you made from the wholesale deals.

Originally posted by @Anton Watt :

Most people who buy properties with the intentions to flip purchase them under the LLC. I would say you should wholesale some deals to make more money then start flipping homes with the income you made from the wholesale deals.

     sounds like great advice I will take. 

Thanks @Anton Watt . In your opinion do you think I should try and approach theses LLC's or look for other leads such as FSBO's? I understand what your say, these LLC's will probably rehab theses properties. However I have seen properties owned by LLC's and the property just sits there for months to years at a time and if their willing to sell to an investor vs rehabbing the properties themselves I would like to jump on the opportunity asap.

Thanks again.

Originally posted by @Don Washington III :

Thanks @Anton Watt. In your opinion do you think I should try and approach theses LLC's or look for other leads such as FSBO's? I understand what your say, these LLC's will probably rehab theses properties. However I have seen properties owned by LLC's and the property just sits there for months to years at a time and if their willing to sell to an investor vs rehabbing the properties themselves I would like to jump on the opportunity asap.

Thanks again.

Absolutely. Those LLC's may just be holding the properties to sell to investors or waiting for the values to rise then rehab them or sell them again. Either way they want to sell those properties. I suggest you reach out to them and also reach out to FSBO's because that is how you will get the best deals.

Originally posted by @Anton Watt :
Originally posted by @Don W.:

Thanks @Anton Watt. In your opinion do you think I should try and approach theses LLC's or look for other leads such as FSBO's? I understand what your say, these LLC's will probably rehab theses properties. However I have seen properties owned by LLC's and the property just sits there for months to years at a time and if their willing to sell to an investor vs rehabbing the properties themselves I would like to jump on the opportunity asap.

Thanks again.

Absolutely. Those LLC's may just be holding the properties to sell to investors or waiting for the values to rise then rehab them or sell them again. Either way they want to sell those properties. I suggest you reach out to them and also reach out to FSBO's because that is how you will get the best deals.

Thanks for the advice. I really appreciate it