I am just trying to find out how each wholesaler find there deals to assign to rehab investors.
*Vacant homes
*MLS
*Pre-forclosures
I Wholesale 1-2 deals a month. Are there anyone wholesaling 5 or more deals a month?
Howdy Troy:
Use any and all methods. I use Loopnet to help find commercial deals as well as local Realtors and brokers. I just bought one house from Realtybid.com and one from Fastoffers.com as well. i have a line on 100 houses from 1 agent that handles an estate where the bank is the trustee. I may buy them all and wholesale or fix and flip but the lead came from just talking to local realtors about fixer uppers.
5 or more a month? Yep, a local area wholesaler here (can’t post the name without permission) sells 5-10 a month?
How does he get them? He has about 6 people working fulltime for him that do nothing but make offers on properties ALL day, EVERY day. They make offers on anything and everything, calling agents, vacants, FSBOs, etc. And pretty cut and dry too. Offer is 50% of ARV, take it or leave it.
So, they can sell them at 55-65% of value and make a decent profit doing it.
It’s all a numbers game. My guess is that they make somewhere around 3-5000 offers a month to get 5-15 deals a month.
Raj
how do u make offer without looking at the property or finding out about its condition first ?
Howdy Lovetoknow:
Get a pen and a blank contract and fill out the blanks. I offered full price with a 30 day inspection and an additional 30 days to close. I could back during the 30 day inspection and not lose the $500. I know of investors that send out blind contracts daily almost, most are lowball offers but if a few good ones bite they can make some good deals.