Finding vacant homes

[Ryan Anderson]

Hello BP community, seeking advice on the best way to locate vacant homes to either wholesale or rehab and flip. Thanks everyone!

[Ray Lai]

@Ryan Anderson

MLS is a low probability game.

Best way to get started is to D4D or creating lists for tax delinquent / probates at your county assessor/courthouse and using direct mail after you do your homework. What do I mean by homework?

If you want a game plan, let me know. In the meantime here are some questions to ask yourself. If you can answer Yes to all these questions, then you should start. If not, you should do more preparation to increase your odds of success.

1) Do you have enough money saved up for a sustained campaign of at least 200 addresses and can mail them at least once every 3-4 weeks, for at least 6 mailings?

2) Do you have the system built in place for your funnel: ready to answer that number without letting it go to voicemail, have a website landing page to capture the lead if you include a link in your DM.

3) Do you want to maximize your response rate? Get a area code that is familiar to the people you're mailing to if you want to increase their comfort

4) Are you familiar with the questions to ask a seller to see if they are distressed or not?

5) Do you have buyers ready in that area for when you close a deal?

6) Do you have someone in person that that isn't just boots on the ground, but understands rehab costs so they can get a proper rehab estimate so you know whether it's a deal or not?

7) Do you have access to MLS or comps to know the ARV of the property you're buying?

8) Do you have the contracts in place for them to sign when you close the deal?

9) Do you have a title company or escrow lawyer (state dependent) to help finalize the paperwork?

Those are just a couple of things to get ready prior to starting your campaign. I'd highly recommend getting a real estate license as well.