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Updated almost 6 years ago on . Most recent reply

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9
Posts
2
Votes
Amber Brown
2
Votes |
9
Posts

wholesaling disappointment in washington state

Amber Brown
Posted

So I am going to be honest here,

I have not been very successful in my wholesaling adventure in the last year and I need help so, now I am attempting to try to network with other wholesalers to see if any one out there with experience is willing to network and offer advice (which i probably should have tried doing in the first place). I have a pretty good program I can use to find the people that are delinquent in taxes/mortgages/etc. and I have 3 that I might be able to wholesale, but none are willing to talk decent numbers....
My problem?

One house doesn't want to sell because he thinks it is fine as is (obviously not motivated yet, but his house is crazy tiny and needs a serious update before it can sell for a good price)

One house is in foreclosure. she is definitely motivated, however it needs a TON of work, she owes a ton in mortgages and there are other investors (Cards etc) that know about her now (She started out as a friend of a friend needing to sell. I think she is shopping around.) Essentially i have been attempting to bird dog this house to other investors to see what can happen. 

and the 3rd is my neighbors house whose mom just died and he can't mentally take care of a house. the house is **** (almost literal cat poop and other nasty crap) but the problem with this one is a friend of mine wants to turn the property into townhouses YUCK :( 

Any-who, obviously good starting points with houses but not a single one biting on what I offer them.

Are many investors of Washington going outside the state? Which states are popular right now for flippers? is there an easyish way to tell without just searching the "Craigslist" of each state?

Most Popular Reply

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44
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42
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Jeff Hornberger
  • Investor
  • Spokane Valley, WA
42
Votes |
44
Posts
Jeff Hornberger
  • Investor
  • Spokane Valley, WA
Replied

Hi Amber, I'm in the Spokane market so as I know it's an extreme sellers market on the west side I can only speak from experience over here. It sounds like you have a lead generating problem rather than a location problem. Though it can be tough to wholesale in a hot sellers market, it can have its benefits if we know ARV's are inflated.

I think you should incorporate another element into your mailings. Direct mail, driving for dollars, bandit signs, internet PPC etc. you don’t need to do every strategy but choose 1 or 2 and do them really well. I personally like direct mail and internet marketing. 

The deals are out there for sure you just have to stay consistent. Also if your going after mortgage defaults you should partner up with a local real estate agent and start referring them anyone that owes just way too much and wouldn’t be interested in a lease option or any other way. Who knows if you start sending the agent a few referrals a month they pay start pitching in for the cost to market to these folks. 

Good luck 👍

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