Finding Wholesale Deals

13 Replies

Hey everyone my team has done some flips as we have construction background. We are looking to find deals on our own and wholesale properties as well. What are some successful ways to find wholesale deals? I've heard and tried mailers but haven't had much luck on those. Door knocking? Find pre foreclosures? Thanks for the help

you can try probate as well.. . drive for dollars.

and code enforcement.. to add to the standard  mailers .. default lists.

when you drive for dollars do you just door knock them or add them to mailer list? Where do you find probates? 

You have to utilize all strategies, not just one.  It's the age of technology so anyone not using it is missing the boat. There's no secret to wholesaling and how to find sellers. Mail, social media, Google paid adwords, door knocking, etc etc etc. As for mailers the general rule of thumb is about 1-3% response rate. Out of that hopefully, you get some deals depending on the quality and consistency of your campaigns. If you don't plan on mailing for a minimum 3-5 months don't even bother.  Pick one or 2 strategies such as targeting vacant houses and probates and go after them. 

Hi @Cody Harris ,

With wholesaling properties  you have to be consistent and persistent. Tax Delinquent is a great list to start with; however I would recommend only mailing this list if you are going to commit to a minimum of 6 months. You can also find high equity absentee owners list and skip trace the list and start cold calling and looking for motivation. With any strategy that you choose just make sure to be consistent and persistent. 

Have a blessed day.

Or what software you use? I’ve used a couple tying to call a while back I think it was red dot? But it gave horrible numbers that none were right

Hi @Cody Harris ,

I currently use Listsource to pull absentee owner list. You could also use Skip Genie to skip trace they are pretty good. 

I totally agree with @David Bokman . Marketing is the name of the game. In other words, you are not in the real estate business, you are in the marketing business. It does not matter after which list you are chasing. What matters is to have a consistent, multi-faceted strategy that you religiously follow, day in day out. Don't leave anything out: online and offline actions are equally important. 

Good luck!

@Cody Harris , you've been getting great advice with everyone on here. You can pull lists as well as file FIOA requests (Freedom of Information Act) for code violations with your local city and counties. Most that are good at writing violations can provide really good leads. Listsource is a great place to find quality lists of high-equity, absentee owned homes. As far as the skip tracing to find numbers of the home owner is concerned. The quality of finding good numbers is increasingly hard. I've developed a software system that is getting around 85% of accurate numbers with a response rate from potential sellers of around 10%. 

@Cody Harris Since this thread is 3 months old I'm curious to know how you've fared since you got everyone's input. 

I'll add my own 114 cents, literally. I wrote a few BiggerPockets blog posts on how to find off-market flip and wholesale properties and motivated sellers that may come in handy in filling out your pipeline:

https://www.biggerpockets.com/blogs/8814/72016-55-resources-to-find-real-estate-deals-online

https://www.biggerpockets.com/blogs/8814/71506-27-ways-to-find-off-market-and-wholesale-real-estate-deals-offline

https://www.biggerpockets.com/blogs/8814/72664-35-relationships-to-help-you-find-more-houses-to-flip-or-wholesale

Well I’m still working full time at my day job, licensed realtor also, and have a construction company starting up, and have 2 flips right now so I haven’t got to attempt anything yet. Once I get at least one of these flips done i was going to start with the code violations and driving for dollars 

@Cody Harris I agree with @joaquin Rosario that purchasing a list is the way to go. However, if you work with a mailing list broker instead of an online system, you can get advise for targets.

Absentee Owners with Equity lists have been effective for a lot of investors. That can be combined with Senior Homeowners with Low Financial Stability Scores (FSS).

Canyon County ID only reports about 100 Absentee owners and doesn't provide the information for Equity. There are however almost 2000 Seniors with low FSS, 15+ year ownership, home value up to $250,000, age 50-89.

This would be a good target to reach people who could be ready to downsize or transition to assistance.

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