Home Stager · Brampton, Ontario · Member since 2013 · 2 posts · 0 votes
Hello Everyone!
My name is Jennifer and I am new to the Real Estate Investing World and to Bigger Pockets. I am aiming to start with wholesaling and would like to know some of the betters ways to source out buyers and sellers. I am located in Ontario Canada.....I'm not sure if there would be a difference in the best ways based on where you are located, but I am sure that there is a general idea. Any information on this would be greatly appreciated.
Quite the loaded question.
First sellers: you need to find motivated sellers. That could be distressed sales (per foreclosure, short sales, REO, trustee sales, auctions, probate, etc) or you can market to absentee owners, tired landlords, divorce leads, etc.
For buyers: for cash buyers, simply pull public records in your area of all cash closed transactions.
Welcome to BP Jen. You have come to the right place to learn more about wholesaling! There is a ton of information about sourcing buyers and sellers, make sure you read as much as possible on the wholesaling forums:
Quite the loaded question.
First sellers: you need to find motivated sellers. That could be distressed sales (per foreclosure, short sales, REO, trustee sales, auctions, probate, etc) or you can market to absentee owners, tired landlords, divorce leads, etc.
For buyers: for cash buyers, simply pull public records in your area of all cash closed transactions.
That's about as broad a topic as I can think of!
I think many of us can agree that REIA groups are one of the best networking opportunities for RE investors.
Join and participate!
I would like to thank everyone for their replies. All of the suggestions were awesome and made a great deal of sense. I know that the question was very broad, so I thank you all for taking a moment to give your insite. I will be ending my day going over the website and the available tools.
Contractors was mentioned, to add to that, work out a wholesale arrangement for you to buy houses from those buying new homes, so the contractor can take trades.
What larger employers are in your area? Call the personnel office and ask if are expecting any new employees moving in from out of town. Big companies like IBM or Exon have these services with Realtor franchises, find the smaller ones who don't have these services. Don't just give your properties but throw in rentals. This something your REI group might tap into with those who are not served.
Build your own relocation service or home welcome agency. If there is an existing "Welcome To The Area/Welcome Wagon" agency or company work with them. Welcome packets are sent out, get your name on the list.
Who got married, had a baby, got a promotion, graduated, is starting a new job, who is retiring, who past away, getting divorced?
These are life events that spur homeownership or at least moving up or down in rentals or are maybe moving as empty nesters. Network with those who have contact with these aspects of life changes. For example, kids graduate college, the kids might need a place and the parents may want something nicer and smaller.
People move to other homes for a reason, identify the reasons, network with those involved and make them friends of yours. RE is a social business. :)