Craigslist Wholesaler Advertisement Help

14 Replies

Hi guys and gals,

I am now in the business of wholesaling properties so I can build up experience as well actually doing something pragmatic so I don't get analysis paralysis while gaining capital  for my first rental property. 

I am driving for dollars and creating a buyers list. I want to put an ad on craigslist stating as a subject line "Wholesale real estate deals at 70% ARV" with a short ad explaining I wholesale deals with that criteria so people are interested. I need to know which topic I should post it under.

Thank you, This will be a great deal for investors that work with me as well as a great start for me.

hey there, I'm also at the same stage of my REI Business and have been driving for dollars and collecting information on other local investors along the way. As far as Cragslist goes, I'd try posting your ad in Housing - Real Estate For Sale. I've already found a few investors posts in that category and have added them to my buyers list as well. Good luck on your journey and reaching your goals.

@Cody Evans how do you plan to vet the leads you get from Craigslist? How will you be confident that the "buyers" are real cash buyers? That seems to be the biggest question. It would be terrible to think you have good cash buyers lined up, bring them through the subject property, to find out they don't have the ability to buy it. Could be a lot of wasted time.

@Jonathan McKinley

thanks for the tip. I'll post it there today.

@Brian Pulaski

Good question. I thought of this as the easiest way to take an actionable step towards wholesaling so that is why I am starting here. Next, I will use other techniques to find cash buyers. I am going to a meet up next week hosted by a man that offered me $1000 for bird dogging and I will ask him some questions on what his criteria and area of the neighborhood is. I will then search for houses in that area. I am also going to follow up on these supposed cash buyers by asking them questions; they will receive a score out of 6 for potential reliability. I will also cast a wide net to try and get as many as I can. I will go down my list and call the people that had the best score and gave me the best feeling about them otherwise from there I just have to get experience the ole fashion way by losing some time unfortunately. 

Does this sound halfway decent to you or is there still a hole in my strategy?

I think It sounds great. Mainly because this is also the strategy I'm currently using. Google "Revese Wholesaling" for more details and tips.

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couple things and again not to throw cold water on your idea.

you are going to find it quite difficult in the north bay to find homes as cheap as your talking about.

but that said.. get PROPERTY RADAR and use that app.. its critical.

when vetting a buyer ask them for the last 3 properties they bought.. ask for address check public records and see if they actually bought them.. you are going to run into a whole host of flakes on craigslist that you had no idea existed.. daisy chains of guys like you with little to no money trying to do this..

On thing I would recommend is going to the trustee's sale at the county were you live.. and watch and learn.. those that step up and buy properties.. are one of two things.. they are either a buying service ( no help to you) or they may give you the names of their principals ( help to you) and or actually real time investors who have the cash to buy at the sales those are your targets I would not waste to much time on craigslist I would be down to the trustee sales building your list of buyers.  

It always amazed me that no one really did this in Portland I was the biggest buyer of foreclosure for many years in this market and no one ever came up to me.. if a bird dog brought me a deal of course I would have looked at it.. I won't deal with wholesalers on the internet though because I never met them and 99% have no idea what a deal is or what they are doing.. so total waste of my time.

good luck.

@Ryan Dossey   Ryan this guy really really wants to get into the game he has posted all over the place on various ways to bust in.. Maybe you guys can sinc up and you can help him with a very target direct mail campaign.. he says he has some money ...

@Ryan Dossey   suggest he target towns just north of him along I 5  like Williams  Willows  Colusa Esparto etc. these are all a 30 to 60 minute shot up 505 to 5... so might be worth it for him.

these are smaller towns that probably have much less competition than were he is at in Fairfield although Fairfield being a military town Travis Airforce base  there is always some turn over there.. but lots of pressure no doubt.

Originally posted by @Jay Hinrichs :

you are going to find it quite difficult in the north bay to find homes as cheap as your talking about.

but that said.. get PROPERTY RADAR and use that app.. its critical.

When you say it will be difficult to find these homes you mean there won't be that many properties in distress so I should search further away? 

Which version of Property Radar do you recommend?

I also google trustees sale for my county and I am not coming up with anything I am sure of. How do I find the date for these sales and do these occur at the courthouse for my city or county?

@Ryan Dossey

I sent you a message.

@Matt K.

So these sales happen only once or twice a year? How do I check the schedule for the next one and do cities/counties usually have a main person I can call that will directly to the public records, auctions, etc that I need?

Originally posted by @Cody Evans :

@Matt K.

So these sales happen only once or twice a year? How do I check the schedule for the next one and do cities/counties usually have a main person I can call that will directly to the public records, auctions, etc that I need?

 I don't know the schedule, but it's usually the tax assessor  or something similar. Auctions near us are VERY difficult and you need all cash for them, probably not the best idea to wholesale them.

http://www.latimes.com/local/lanow/la-me-ln-bid-ri...

But, you can use them to see who's behind on taxes and they might be more motivated to sell....

@Matt K.

I would go to auctions to find/pitch to   those cash buyers for my off market finds when I get a good one. 

Also how much do you know about county records? I can't find the owner on my Solano County Appraisal District website; it says owner name unavailable. Then I looked for the deed of trust to try and get the owner name and there is no such document with paying a $10 fee per document?

In Georgia, auction.com conducts many of the courthouse steps auctions and they have the schedule on their website as well as the properties scheduled for auction.

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