All Forum Posts by: John Cha

Hi, I'm fairly new in this wholesaling niche and would like some guidance for how to gauge for ARV and renovation estimates? Any general guidance for what to look for in viable wholesale properties would be greatly appreciated as well. I look forward to connecting with you all!

 My thing is why not just do a clean ghost ad to get buyers then go under contract? Is it because you would lose leverage of assignment power at your secured price point? I mean isn't it best practice to have a list of at least a few buyers first rather than going under wholesale contract then risk scrambling to find buyers or worse having it sit idle for months which defeats the point of a purchase contract? As a mantra goes "Look for properties for buyers, not buyers for properties." In other words wouldn't putting up properties under contract and locking them up until we find someone who wants to buy it sort of giving wholesalers a bad rap? I'm fairly new in this niche so any corrections/tips would help as long as it's within ethical bounds.

Should you not secure buyers first before handling wholesale contracts?

I'm a Chicagoland Realtor helping out a friend buy rehab and hold something that he can qualify for a loan without an active credit score. He calls himself the ghost and I reckon vacant, beat up homes would be viable for a private lender to work with him provided he has a cosigner/partners. What's the best way to locate vacant properties online (off market or active doesnt matter)? It's clear how to get a hold of the owner through public records once I spot the actual property, but how do I find them in the first place? Ive used the MLS and homesnap and can't seem to narrow down my search for this criteria.