All Forum Posts by: Spencer I.

Sounds like you are taking the right steps. Also send a mail piece to the property. Maybe the owner still checks the mail. 

In some states, property sales are public record. Find out if you are in such a state and if you are, pull comps from public directory. If you are not in such a state, it is best to have a realtor pull comps for you. In my state property sales are not public record, Zillow has inaccurate data, so you must get comps from the MLS. Wholesaling is a marketing business, and that is where you should start. Watch Youtube videos specifically about marketing to sellers, and implement everything you can.

What part of Texas are you in? Houston? 

After hurricane Harvey, flipping proved to be strong when buying at the right price. I know from first hand experience, and from a few of my close investor friends who flipped close to 100 homes after the hurricane. For buy and hold, be sure to lookup the new floodplain regulations from FEMA. If I recall correctly, the rules were dramatically changed in September. The rules for properties in the 100 year floodplain now apply to properties in the 500 year floodplain. I'm not sure whether this is applied to new builds or existing properties. If you plan to flip or buy and hold, looking up the new regulations will go a long way.

Originally posted by @Jose Acevedo:

I have about 25k and I have a credit score of 575 what can I do ? I want to buy a fixer upper to flip ! Any advise

 I would suggest you first buy some books, and learn the business of buying fixer uppers. A few that come to mind, The Book on Investing in Real Estate with No (and Low) Money Down, How to Invest in Real Estate by Bigger Pockets, also J Scott's book Flip. These books will teach you how to use your cash to buy fix and flips. Also listen to the podcasts as they provide first hand experience from investors doing deals. Once you feel knowledgeable enough, then you should look for deals. Also providing more details about your situation will help. Are you new, or have you sold a property in the past? What is your current knowledge base? 

Originally posted by @Alden Cleveland:

@Spencer I. - any specific recommendations for buyer’s lists that you might offer?  Any thoughts appreciated.

Sure. There are plenty of ways you can do this. Post a new thread here, post on facebook, drive around and call "We buy Houses" signs and ask to be added to their list, post on craigslist, etc. If you're in Houston, pm me your email address and I'll add you to mine.

It is absolutely worth it to get a mentor. You must add value for someone to mentor you. In the form of payment, or marketing like I’ve done in the past. I handled my mentor’s marketing in exchange knowledge about the business.

@Parris Edwards Wholesaling multi family properties is the same process as wholesaling sfr. You need to get leads, get comps, make offers, get properties under contract, then aaaIgn to end buyer. There’s tons of competition, and getting leads is where you should place your focus.

*least they will take

@John Lee I'd advise you to approach the children to find out the last they would take. Use a title company if they accept your offer, and speak with a local realtor to see what the property is worth.