Wholesaling in a SELLERS market?

Question

I am wholesaling here in DFW and with the market tightening up and becoming a sellers market it seems like there are less deals out there. Most people will juts want to list on the MLS.

I guess the secret is to find those that are trully distressed and need to sell now?

Dan Franks · Answer

I've used Greensheets in DFW with decent results.  Lots of competition in there, and sellers will typically go down the list calling them all.  Many of the ads, though, are straight to voicemail phone numbers, so if you can answer the phone and lock something up before they call anyone else you can make it work.

Thrifty Nickle is another, but I did not have any luck.

I also have advertised in Coffee News (the little free publications that are available at most breakfast spots in the area) to decent results.  You just have to target the right neighborhoods for these, as they are very localized.

Dan Shoemaker · Answer

Awesome suggestions guys!  Thanks!

Carlos Flores · Answer

I haven't looked at the Dallas Morning News lately.  Seen ads mostly in Greensheet and other free circulars.  In the area you want to target, look for gangs of newspaper boxes outside convenience stores, strip malls, etc.  You'll see which have ads and which don't.

Bill Mitchell · Answer

Carlos F. Thanks for mentioning that. Do you know off hand what news papers to target specifically here in the dallas -fort wortth area?

Carlos Flores · Answer

There have been "we buy houses" ads in DFW classified rags for years.  Not just 3 liners either, but decent sized ads.  Must work for them.

Chris Reck · Answer

Ya I agree I see a lot of people hating and it could just be the area I live in but it works for me. I should also say the way I look at it is its passive. Even if I had to spend $1k on paper ads to get 1 deal it would be worth it for doing zero work in my mind.

Bill Mitchell · Answer

Chris Reck Thanks for your reply Chris. Actually I have read on the BP forums and other areas that the old news paper ads really dont work anymore and are not cost effective, so its interesting to hear your perspective and that they are working for you.

Chris Reck · Answer

Hey Bill I am not in your area but I have been targeting slightly older homes recently and have been getting plenty of leads. I have also been posting in local classifieds and have been stunned with the amount of responses I get. Usually gets me 1 solid deal a week. I think the older generation tends to read these penny savers, local papers ect and it has given me a bunch of motivated leads.

Wholesaling in a SELLERS market?

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