how many properties?

Bird Dogs, Wholesaling
1

Too all the seasoned whoelsalers:

  1. Id like to know how many properties you look at in a day/week/month.

  2. Of the properties that you view, how many do you make an offer on?

  3. How many of those offers get acepted?

  4. And of the ones that you get accepted, how fast are you able to wholesale you deal?

I know that there are no hard and fast mnumbers but I would like to get an idea of what can be done.
I was thinking of looking at 10 houses a day or more ,over the course of a month, as experiment, to find out how much work actually goes into wholesaling. Ill have a three month stay in the states and I’m trying to make a plan of action.

Any infromation will help.

Thanks
Aarron

2

When I’m in “buy” mode, I look at 10 or so per day on the internet to weed out the ones I want to go see in person. I then look at 2-3 per day.

I usually make an offer on 1 out of every 5 I go to see.

I deal mostly in REO property. Depending on the lender, I usually know what amount to offer to get it accepted.

I don’t wholesale, I retail. It usually takes me 4-5 weeks to get a property back on the market. I have a couple of part-timers who do most of the work for me.

3

what do you mean by “look” at the property? in person? online?

i used to do this. have a realtor go through the new listings every day searching for keywords in the description like “motivated, REO, foreclosure, addendum required, etc.” words that indicated possible motivation.

then the realtor would offer 60% of the list price on all of them. i would only go look in person after the offer was accepted. you have a due diligence period where you can back out if the numbers don’t work.

as you can imagine a very small percentage of offers were accepted. but so what? we bought a house or two every month that way and didn’t waste time going to inspect houses we weren’t going to buy.

i prefer preforeclosure now so i don’t do this anymore but it works.

4

RP,

Did you have a hard time finding a realtor who would submit such offers?

Find,Fix, Flip,

did you just search the mls or did you have another way to find these houses?

5

When I’m interested in a neighborhood, I use a local real estate company’s website to look the property up. It allows me to map the listing and surrounding for sale properties and shows prices. When I see a discrepancy - houses selling for 70, 77, 82, and then one for 48, I look at what’s going on with the low-priced one.

6

I look at every new listing and price change that comes up in my area, then I will look at 2-5 a day, many times if im busy I wont look for a couple of days and instead wait for my contacts to call me with good deals