We’re currently marketing to people that have made it to the unsafe structure list. Ironically, alot of these houses are in the war zones. How do you feel about buying houses in war zones (if the price is right?)
I would wholesale in a war zone long before I would buy in a warzone.
The best way to figure out if wholesaling in this particular warzone is a good thing to do is to first find yourself a bunch of investors who are looking to buy there. You can start by finding investors who already own there and see if he/she are looking to purchase more properties in that area.
Chris
I have wholesaled quite a few in war zones but the other guy is correct in saying that it is best to have your buyers lined up first, there are some very good ways to find buyers quickly in those areas. Having buyers lined up is key because very few buyers actually want to buy in those areas.
Eric Medemar
Ya…wholesaling in war zones can be extremely simple if you have your buyers lined up first.
It’s pretty simple to find your buyer for that area. Aside from asking around at your local REIA, you can simply scan through your property appraisor’s website and see who owns multiple properties in that area. Do a search for their phone number on whitepages.com and see how much they’re willing to pay for houses around there.
If you’re flipping war zone houses you really need to “steal them”.
Ditto what everyone else said- find the buyers and find out what prices they will buy at in these neghborhoods…
Another great way to find buyers in these areas (or any areas, for that matter), is to drive the neighborhoods and take down every number you see on “for rent” signs. I have found some really solid buyers doing this. Of course, if they are really war zones, you might not want to be cruising the streets for long…
Steph :cool
DITTO’S on what every body has said, you may also what to keep in mind that the people that OWN in these area are good people , and for what ever reason as the area was going down in value due to drugs gangs etc. couldn’t afford to move, they & there parents grew up there and in there mind there stuck. i have purchase a couple hundred home’s in area like that in the mid eighty for pennies on the dollar in ca. that were being sold in the last five years for up to $300k so you also may want to look at it long term you flips some & hold some, YOU MAY ALSO WANT TO CONTACT THE LAND LORDS WHO OWN IN THESE AREA, THEY CAN BE DON’T WANTER’S, my father in law , because of health issues, had a duplex an area like that & sold it to me on a contract for $ 235K & i sold it two years later for $520k. if your open to REO, PRE-FORECLOSURE PROPERTY.