Building a list when Wholesale properties in Baltimore

[Joel Baptiste]

Hey Guys i am new to real estate and wholesaling, and i wanted your advice on the best way to get started. What is the most effective way to build your list of potential motivated sellers. What is the best method of finding them or helping them find you? Also once you get a homeowner on the phone, what should be your thought process? What steps do you want to take all the way up to closing? What are potential pitfalls? is it hard to get a contractor out to look at the property? and if so, on average how much does one charge? How does obtaining bank owned and foreclosed properties work with wholesaling? Sorry for so many questions. Thanks for any and all replies, all will be greatly appreciated.

[Elizabeth Wilson]

@Joel Baptiste - If I knew the best answers to some of those questions, I'd be a wealthy woman! :)

I'd first go through some of the marketing forums and read, read, read.  And Google search! There are simply too many ways you can market to someone (cause that is really all we are are marketers).  Direct mail, websites, list services, Craigslist, etc.  Each market is different and each type of seller is different.  Got to try some out to see what works.

Bank-owned properties and pre-foreclosures are a little more challenging unless you are also a cash buyer and can immediately transfer.  That is what we do.  I'm sure there are ways to wholesale a preforeclosure, but we haven't done it so I'd hate to advise

There is lots of great info in the forums for wholesaling and I'm sure lots specific to your part of the country.

Best of luck and keep us posted!