What is the best method to generate wholesale leads in Detroit?

Wholesaling
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What is the best method to generate wholesale leads in Detroit?

Wade Briggs
Rental Property Investor · Detroit, MI · Member since 2019 · 6 posts · 2 votes

Wholesaling events talk about ways to generate leads; Probate, Foreclosure, Absentee Owners, etc. What is currently in working in Detroit?

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Moises R Cosme
Flipper/Rehabber · Leominster, MA · Member since 2020 · 667 posts · 384 votes
6y

Wade, 

Pick a vertical & go nuts!!!  We work foreclosure & probate, we are fanatics about it... Emails, calls, text messages, mail etc.  Aggressively work every lead and you will get results.  There is no 'one' avenue that works, it is all about what you do & how you dig for gold!!! 

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  • Moises R Cosme
    Flipper/Rehabber · Leominster, MA · Member since 2020 · 667 posts · 384 votes
    6y

    Wade, 

    Pick a vertical & go nuts!!!  We work foreclosure & probate, we are fanatics about it... Emails, calls, text messages, mail etc.  Aggressively work every lead and you will get results.  There is no 'one' avenue that works, it is all about what you do & how you dig for gold!!! 

    2Reply
  • Alfonzo C Rushin II
    Member since 2020 · 27 posts · 2 votes
    6y

    Moises R Cosme I have potential foreclosure deal. I have a lot of questions on wholesaling a foreclosure. Also Wade Briggs, I am to an investor in Michigan Metro-Detroit area. lets connect!

    1Reply
  • Moises R Cosme
    Flipper/Rehabber · Leominster, MA · Member since 2020 · 667 posts · 384 votes
    6y

    Alfonzo, 

    Message me your questions & I will try to assist.  Wholesaling foreclosures is a good strategy BUT you need to know your numbers cold; we have gotten several solicitations from wholesalers that won a property at auction, we didn't buy any of them because we felt the wholesaler underestimated the renovation costs and over estimated the after rehab value.  

    1Reply
  • Alfonzo C Rushin II
    Member since 2020 · 27 posts · 2 votes
    6y

    @Moises R Cosme ok will do. I have the numbers and it’s looking to be a good deal I will email you my questions.

    0Reply
  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    6y
    Originally posted by @Moises R Cosme:

    Alfonzo, 

    Message me your questions & I will try to assist.  Wholesaling foreclosures is a good strategy BUT you need to know your numbers cold; we have gotten several solicitations from wholesalers that won a property at auction, we didn't buy any of them because we felt the wholesaler underestimated the renovation costs and over estimated the after rehab value.  

     Nicely said.

    1Reply
  • Dylan TanakaPro Member
    Real Estate Agent · Detroit, MI · Member since 2008 · 455 posts · 178 votes
    6y

    Hey @Wade Briggs nice to see you here.  I agree with Moises.  I find deals from bird dogs, probate, D4D, delinquent taxes...etc.  
    They all work, make it happen my man!

    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    6y

    @Wade Briggs if you are just starting out, focus one, maybe two channels to find deals. Learn them inside & out and build your success. Then you can start exploring other channels as you gain experience and close some transactions.

    Also, you will find some channels unappealing to you, focus on the ones you enjoy.

    Too many people try the shotgun approach, spread themselves too thin, lose potential deals due to their inexperience, then flame out.

    [email protected]248-209-6824
    Logical Property Management4.9460 Reviews
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    1Reply
  • Wade Briggs
    OP
    Rental Property Investor · Detroit, MI · Member since 2019 · 6 posts · 2 votes
    6y

    @Moises R Cosme thank you for the advice. Basically, pick a method and stick with it. Do you have any resources on how to obtain foreclosure properties for wholesale? What has been your experience? Do's, Don'ts, and things to look out for?

    1Reply
  • Wade Briggs
    OP
    Rental Property Investor · Detroit, MI · Member since 2019 · 6 posts · 2 votes
    6y

    @Dylan Tanaka thank you for the information! I will definitely look into the Michigan REI network. Quick question, what are bird dogs and D4D?

    0Reply
  • Wade Briggs
    OP
    Rental Property Investor · Detroit, MI · Member since 2019 · 6 posts · 2 votes
    6y

    @Drew Sygit thanks for that perspective!! I've noticed that I do take on too much and get burned out quickly. I'll definitely take my time to get one process down before moving to the next.

    0Reply
  • Moises R Cosme
    Flipper/Rehabber · Leominster, MA · Member since 2020 · 667 posts · 384 votes
    6y

    Do you have any resources on how to obtain foreclosure properties for wholesale?  FORECLOSURES ARE POSTED WITH THE LOCAL REGISTRY OF DEEDS, CALL THE CLERK AND ASK THEM HOW YOU CAN GET A COPY OF THE LIST AND HOW OFTEN IT IS DISTRIBUTED.  CALL & MAIL THESE FOLKS.

    What has been your experience?  DISTRESSED REAL ESTATE IS OUR BREAD AND BUTTER

    Do's, Don'ts, and things to look out for?  $5K DEPOSIT NON REFUNDABLE DEPOSIT.  RUN YOUR NUMBERS.  STAY AWAY FROM OCCUPIED PROPERTIES.  I DRIVE BY AND CHECK TO SEE IF IT LOOKS OCCUPIED BEFORE I BID, IF ITS OCCUPIED I STAY AWAY NO MATTER HOW GOOD THE DEAL SEEMS. 

    0Reply
  • Gary Carver
    Realtor · Detroit, MI · Member since 2018 · 387 posts · 129 votes
    6y

    @Wade Briggs.  Bird dog.. finds deals in market and present to sellers..  D4D.  Driving for dollars..  driving around looking for houses that look unkept,vacant, To market to

    0Reply
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