How do I find wholesalers to sell to me? - Delaware County PA

Question

I am trying to find deals to buy in my local area ( Delaware County, PA ) but i'm having a tough time finding wholesale people that sell what i'm looking for.  I am ready to purchase and have experience purchasing real estate ( currently own 20+ units ) , but for some reason I cant find many wholesalers that have the level of deal flow im looking at buying.  Any Ideas on how to find wholesalers?

Rich O'Neill · Answer

@Connor Eichman, @Drew Farnese does sell some nice deals, but is correct, deal flow in the county is low right now. Drew is one of the only ones I know that consistently has deals in Delco, and I have 40+ units all in Delco, so I know several of the players.

@Jimmy O'Connor and his team at New Western seem to be making some more headway into Delco recently as well.

Part of the problem is the Philly guys will get a stray lead from the county and not really know what to do with it since it's a totally different market. Check out the Philadelphia Real Estate Investors Association Facebook group to find some of them. That group is crawling with them. I am on several of the Philly guy's lists just so I can try to pick up some of those strays, since most of their buyers don't know what do do with Delco deals either.

My best advice for finding wholesalers (especially if you already own/live/work in the area) is to call all of the marketing you see/get for "we buy houses" and ask them to put you on their buyers list. I have gotten a couple of deals that way.

Best of luck!

Jimmy O'Connor · Answer

Hey @Connor Eichman ! Finding good wholesalers is tough. I personally only have about two that I trust outside of my team. There is an abundant amount but like any profession, you need to sift through quality. And even when you find a quality wholesaler that shoots you straight, out of the dozens of deals they may send you, you may be able to lock up only a handful. If you want to know how to be given the best deals before the rest of the world sees them- feedback on your end is CRUCIAL. My best relationships with investors are from people, like @Rich O'Neill, who are transparent about their model, what they would buy, and quick feedback on why some of my deals don't make sense to them. I FULLY RECOGNIZE not all of my deals make sense for EVERY investor (there's no way they all could!), but every time I find out why, that's x-dollars and x-hours I save on my next round of marketing and follow-ups.

I've given haircuts on deals, not because they are difficult to sell at a higher number, but because these types of investors have saved me time, money, and STRESS from being so easy to work with. I'd gladly decrease my price 5k if it means that I can make one phone call to someone I know who will buy it and who I won't have to babysit throughout the whole process. There is a price tag on me not having to worry about investors being able to perform and sending in docs the moment they are requested.  THAT'S the formula for the BEST deal flow from your wholesaler.

Shawn Kostoff · Answer

@Connor Eichman

I wholesale in New Castle County (DE) and DELCO.  We did about 6 deals in DELCO this year.  If you send me your information and what you're looking for I would be happy to include you on anything I get.

Dan Powers · Answer

Hey @Connor Eichman I'm also an agent in the area and work with @Jimmy O'Connor. As mentioned by @Rich O'Neill our team certainly is making major headway in Delco with our other office in Drexel Hills. Also, being local to the area I've known the area for quite some time now.

Would love to connect, looking forward to hearing from you.

Dan Powers - Real Estate Agent

Mike Kelly · Answer

@Connor Eichman

I agree, it has been tough coming across Delco deals of late. @Drew Farnese and his team do a great job at providing consistent deals that make sense.  Make sure your on his list and enrolled in his VIP program.  Like @Rich O'Neill stated Facebook has multiple REI investment groups that have leads for Delaware county and surrounding area's "PA Off Market deals" is one off the top of my head.  I try to get on the list of everyone that offers deals close to the area.    In my experience talking directly to potential sellers, many of them just are not "motivated" at this moment.

Drew Farnese · Answer

Hey Connor, shoot me a message with your contact info and I'll get you hooked up .

I wholesale in Delco and other counties/ states as well as flipping and holding. I'm actually finishing a flip in Havertown right now.

Our deal flow on the wholesale company has been slower in Delco in the past 3 months than it has been in 2 years. It's not like that in other areas so I can't definitively say this - but it seems a lot of our typical distressed seller leads are not feeling the pressure to sell due to stimulus funds and forebarabce plans.

Paul Curran · Answer

Hey Connor any specific criteria you are looking for in these deals? This way I can have a general idea/area were to search for you.

Best,

Paul

Cameron F. · Answer

@Drew Farnese- Mind adding me to your buyer list as well (considering DE county, although I primarily invest in Wilmington)?  Your team do any wholesaling in Wilmington, DE?

How do I find wholesalers to sell to me? - Delaware County PA

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