Bought my first property in Charlotte!

[Nakaash Bhasin]

Hello all,

I'm a 24 year old investor in the Charlotte market, moved down here from NYC last summer to stay with family and have really embraced this fast growing city.

Want to start out by saying thanks to everyone on here, I've gained so much knowledge over the past few months from bigger pockets and was able to purchase my first property in Charlotte (with the help of an investor) . The property we bought had an additional piece of land right next door that we already have a contract for our full asking on. With the main property we are currently under renovation and should be done in 4-5 weeks  and after talking to our broker the return looks even better than expected!

The original plan was to do construction on both but decided to sell the smaller property to offset the cost of the renovation and i'm glad we did because it gave the investor more confidence by seeing some money come back within just a few weeks, and he's seriously interested in buying another, as well as others who have started reaching out to me looking for deals, the only problem is i'm having trouble finding other good deals to show them and don't want to lose their interest. 

my question is how to go about finding more. I worked with a wholesaler on that first property and have reached out to many others. But ideally i'd like to find properties by chasing down the distressed property owners and off market properties myself via mailers or other direct marketing. I know I can go about buying lists, but how do I navigate the public records to pinpoint motivated sellers? Is this something I should spend my time on or should I continue focusing via wholesalers/on market properties?

Looking forward to more great advice,

Thanks 

[Jill DeWit]

@Nakaash Bhasin hello and welcome to BiggerPockets!

First, you are definitely on the right track.  One method that I used when I first started out (and I still utilize this today) that has garnered me success is sending out blind offers to owners.

And I don't mean "fake eviction letters" or "prospecting letters" or postcards saying you buy houses.

I mean sending out a letter with an actual offer price to the owners.

I send out THOUSANDS of these.

You'll get 3 responses: 

1) Some will call you every condescending name in the book. Ignore those.
2) Some will say, "not now, maybe later".  Move on. Those sellers will still have your letter and will call you when they are ready.
3) Some will say, "oh wow! Thanks for finding me! I want to sell but I don't feel like listing my property and cleaning out my garage for house showings, etc." Those are the ones you focus on and bring to your investors.

Happy to help further.  Feel free to PM me at your convenience.

Once again, congratulations, Nakaash, and I wish you all the best in your real estate investing career!