All Forum Posts by: Account Closed

My advice to new investors is to start wholesaling properties. This does not require much of any marketing money to start and to get deals closed.

First pick a neighborhood that you are either in or close to. Driver around all the streets and look for vacant houses. (Not by using Google maps because they can easily be outdated pictures) There should be some.

Then look in the county assessors website to find the owners. it should give their name and mailing address. Send them a letter (not yellow letter because they are getting dozens of them) telling them you found their house to be apparently vacant. But if it is obviously abandoned, say so in the letter. Tell them you will pay them cash for a quick close. Write it up as a personal letter.

When you do all that, then contact a local RE Agent to give you a list of all the houses in that neighborhood that have sold in the last 5 years with all cash. That typically is investors. Then again go to the assessors website and find their name and mailing address. Also do a name search on the assessors website to see how many other properties they own. If they own several they are obviously investors.

Once you get a response from the seller of the vacant house, negotiate a deal to buy it for all cash and get it under contract. Then immediately contact all the cash buyers you just found that buy properties in that neighborhood and tell them about the house and would they be interested in buying it. If you negotiate a good enough deal that pays you then complete the transaction with the investor to buy the house you have under contract.

Once you have done all that with that neighborhood, go to the next one and 'rinse and repeat.'

I hope this helps.

Steve Anderson

Everybody is doing that. You need to have a message that entices them that nobody else is saying. 

And how many deals have you done Charles? I bet not any. You obviously don't know what you are talking about.

I have bought many houses in my 17 years as a full time investor. I am selling houses now to other investors so I can raise cash to buy small MF properties. I recently moved to Orlando so I have not found the property I want to buy yet.

All of the deals I have are a wide variety of % of ARV and in need of rehab. There is a property in my list of over 50 properties for every taste in investing. What do you have available to sell????

I CHOOSE to be a wholesaler because it best suits my financial plan at the moment. And I do help newbie investors all the time. You can see my many posts doing just that. How are you helping others? Obviously not, because you are just running your mouth off not knowing what you are talking about.

The book I recommend is 'Commercial Real Estate Investing for Dummies' is a great beginner book. Also if you really want more 'hand holding' training then the best 2 are 'Lance Edwards Multifamily Success Home Study System' and "Multifamily Investing Academy with Charles Dobbins'

Notify all Orlando area BP members about this meeting so we can have a good crowd.

Good deals are everywhere, you just have to look for them.

You have to get a contract with the heirs. Yes you can wholesale it as long as you have a signature from all the heirs, which many times is very difficult.

I agree totally with Luke. For the older owners getting to know them better will go a long way to getting the info you need. Typically they don't keep good records but ask to see their bank statement and you can create a financial statement from that. As to see what ever records he does have, especially lease agreements. 

That is the main reason I'm on BP. To help as many newbee investors learn what it's really like to wholesale and help them get their first deal. 

FYI. Good wholesalers help each other out because we both have different buyers with different tastes. Carl Brown brought me a buyer from Canada for a property I was marketing in Orlando. And the closing went smoothly. So the good ones do help each other.