All Forum Posts by: Jill DeWit

HI @jimmy cantave

Um - YES! Reaching out to folks via something like Craigslist by posting your own add to reach potential sellers is not crazy!

Just create a listing in whatever city you want - stating that you are searching for X type of property, you have cash/financing/investors lined up, and leave your phone number. Be as specific as possible with your criteria to save yourself some time/energy. 

Great way to reach motivated sellers and have THEM come to you!

Hope this helps!

Jill

Hi @Billy Tegethoff

Welcome! Nice to see another local person! (I'm in Scottsdale.) We have an intern who is wrapping up at ASU this year.

We primarily focus on unimproved land all over the country (& some Canada) and have found that very profitable and we can do it from ANYWHERE. 

Glad you found BP - this is a great place to get all the answers.

Good luck and let me know if I can help in any way!

Jill

Hi @Angela Sullivan

What type of property are you interested in wholesaling? I buy and sell a ton of vacant land all over California as a wholesaler. I only buy properties that I can buy with CASH and sell immediately for 2-3 times more. GREAT way to build up capital. And since I paid cash, I can take my time and market properly to sell for even MORE profit. 

Yes, the key is targeting the right area & reaching the motivated sellers. Not hard, not crazy. Can be done on the weekend.

Happy to help!

Jill

Hi @David Grimm

First thing to consider is how you are going to "reach" potential sellers in the area you have targeted. The BEST way is to pay for accurate, current data from a company like CoreLogic/RealQuest and send out mailers. 

The beauty with this data is you can request a very specific type of property and get a report in minutes! 

For example: I have researched and targeted 5 acre parcel in XYZ County and only want to contact properties zoned: vacant land, residential, recreational, etc. Then I get a list of say 5,000 & I can scrub it down to 3,000 after removing duplicate sellers or whatever. Then I create a standard letter and mail merge all to one great document and send to folks like YellowLetters to mail for me. THEN I have ONLY interested sellers calling ME! 

Costs vary depending on volume, but you get the idea. Certainly better than some folks "driving for dollars" and spending all day canvasing areas to find a handful of boarded up homes to try and contact and motivate those sellers.

Hope this helps!

Jill

Thanks @Cody Alexander for your professional input. Not breaking any rules. We even state in our cover letter to folks that the information is a matter of public record. 

My sellers are occasionally unhappy with my offer price, not necessarily the fact that we are reaching out to them. BUT happy to have them on the phone and now we can negotiate!

p.s. WE love you guys! Any bigger pockets acquaintance discounts? ha ha!

Jill 

Hi @Jean Nye

Why not buy and sell land from your home office? Not hard and you can turn your savings into a massive wealth of more cash + land + monthly income.

Here is the big picture:

1) Buy unwanted rural land for next to nothing
2) Sell it for a lot more money on the internet
3) Collect the payments for years to come. We’ve done it 15,000 times.

Sure, that is a very simple description but it is not hard or crazy and if it all goes sideways your are sitting with a ton of land that you can sell for cash.

Hope this helps!

Jill 

Hello @Account Closedundefined

So nice to converse with a fellow female in this business! 

We have a great strategy that works for homes or undeveloped land. 

STEP 1. What type of property are you targeting? Have you narrowed down a county that makes sense for you to reach out to? (For example - contacting folks for properties in Manhattan might be out of your price range - but upstate NY could be affordable.)

Happy to help!

Jill

Hi @Christopher Burns

Our company has been buying/selling land since 1999. (And now we teach it.) I agree direct mail is a great way to go. You don’t have to spend that much money but the key is reaching the right people at the right time. I.e. Folks not paying their property taxes so you have a good idea their property is not being financed and they have lost interest for some reason. And you want to do your homework ahead of time and isolate the size/area of parcels you wish to acquire. (Data sort to narrow down offers to motivated sellers.)

Get as many letters out to the right folks and once the phone calls start coming in you can pick and choose your acquisitions!

Hope this helps,

Jill DeWit

Hi again @Erin Johnson

Yes, I would get some sort of contract in place before you begin marketing. We created our own basic, two page contract and that has worked perfectly. I did not use an attorney and never had issues. I think a long document might put some folks “off” when all you are trying to do is have an agreement that when you are able to sell their property, they will net XX amount.

And I am constantly surprised by the number of folks (seasoned realtors included) that simply cannot grasp this wholesale concept. Realtors think you have to be “licensed” to do this. I look at it as a great thing because we have less competition!

And GREAT comment @Adrian Smude

Hi @Erin Johnson

You can easily complete wholesale real estate deals with little/no money by creating your own “options” transactions. That means: 1. find a property that meets your criteria, 2. negotiate price with seller and enter into an “options” contract, 3. Re-market and SELL property, and 4. Pay seller AFTER you get paid and make a profit!

I do this with land and with deals under 5K I don’t use a title company. (No “double escrow” needed but that works for the bigger ones.) One deal I negotiated to buy for $3k and sold the same week for $9k.

I have a number of those transactions happening all the time. Super easy to complete. Hardest part is reaching the sellers at the “right” time but the more people you reach out to the easier it is.

Make sense?

Hope this helps!

Jill