Wholesaling Techniques for Primary Residence/House Hack?

[Ryan Stevenson]

Howdy everyone!

I wanted to hear about people's experience using wholesaling techniques to find their primary residence or house hack. Typically with mailers or cold calling you find that people offer cash (or HML) to purchase the property. Has anyone been able to find an off-market deal where they pitched conventional (or FHA) financing? I'm going to exclude seller financing in this instance. What kind of copy did you use in such letters or during cold calls? I appreciate your responses!

[Jonathan Greene]

I don't see the value in sending a bunch of mailers for yourself if you don't have cash or an establish LOC. It will just be a waste of time. The only reason people call us back on mailers and bandit signs is because we pay cash. If you need to get a mortgage, you need to either buy on the MLS or get on some wholesalers lists who offer HML finance as part of the package. I just don't think it would be worth your while to market like that if you don't plan on actually wholesaling and are just looking for a home.

[Ryan Stevenson]

@Jonathan Greene Thanks Jonathan. I figured as much, but was curious if anyone out there has done such a thing. I see your point for only offering cash for distressed properties/owners. I was wondering if people were able to get in touch with, say, multi-family (2-4 unit) owners who may be interested in selling even though they are not technically distressed.

[Jonathan Greene]

There are other ways to find distressed deals for you first deal, but usually with the help of an investor-friendly agent or straight through REO sites or auction sites like Hubzu. It just would not be worth marketing for just one deal. The only reason to market is to capture multiple leads and use them over the long-term.