How do you find wholesale properties

Question

Hi all:
I have been looking for property in the Southern New Hampshire area.  Where do find a "good deal" in NH?  I am looking for a deal in wholesale then fix and flip the house to start making money.  The problem I am finding up here is that alot of property in the Southern NH are highly priced and there is little room for profit after all the expenses are taken out for fixing the property up.  Thank you and a suggestions would be great.

David Darling · Answer

Jennifer, As a wholesaler for 8 years I have tried all the ways to find motivated sellers and the one thing that has always worked is direct mail. For every 100 letters I send out I will get 15-20 call backs. The method is very labor intensive when done right, but it works. One piece of advice is not to use computer generated letters. Handwrite the letters and the envelopes and use a regular stamp. DD

Ryan Webber · Answer

Jennifer, I have no idea which work best there.

BUT, I bet if you tried 3 or 4 methods for 6 months or so and then try 3 or 4 more for 6 months or so and then 3 or 4 more for 6 months or so, in a year or two YOU would be the marketing expert for the New Hampshire area.  :D

One major key to marketing is creativity.  Openness to try new things.  Determine your budget and then get out there and try some stuff.

N/A N/A · Answer

Thanks for your reply.  How do you find the motivated sellers...what methods work here....Bandit signs, putting flyers on peoples doors?  Which methods work best in NH?

Ryan Webber · Answer

There is little room for profit in most properties in ALL areas.

Actually Homevestors puts out a statistic that roughly 15% of people are willing to take a deep discount on the house in order to sell it quickly.  Now in application with dealing with the normal everyday market, you will find that about 99% of sellers are not willing to discount their house deeply.  The key is to tap into the motivated seller market.

We joke that if there is a sign in the yard, then its NOT a deal.  Finding motivated sellers BEFORE they ever contact a realtor or put a for sale sign out is the key.  Many motivated sellers don't have the time or understanding to sell with a realtor, and their house will be at a foreclosure sale or a tax sale before a sign will ever go in the yard.  You have to figure out ways to get in contact with these people.