How to find Properties

[Ray Jimenez]

I seeking help from my fellow peers in wholesaling, I've been having trouble finding properties to put under contract, Any advice? I recently just put up nearly 30 bandit sign in one city and still haven't received one call yet, so that is kind of discouraging, especially since I invested a good chunk of money on advertisement. 

[Stephen Barton]

First off, @Ray JimenezI would tell you to drop the signs. Sure, you may get some deals but they are illegal unless you have a permit (depending on the city ordinances) and frankly they give investors a bad name. You do not want to pay the fines and then get your business shut down before you really even get started. They just look tacky. I want to encourage you to instead take $100 or even $50 to $75 and go to Listsource.com to get some REAL leads. This is what most of the pro's that I know use. I use listsource as well because it is a targeted list and will help you reach people who actually own property free and clear. Also, with bandit signs you have no control over who is calling you. The person could have a mortgage over what the home is really worth. This will not help you. Getting to the people who actually have equity will be your secret sauce.

There are so many other ways to: Code Violations, Probate, and Foreclosures. The first two are published in your local newspaper. It may be a small "local looking" paper and not the main newspaper that everyone reads on a Sunday morning. Though depending on your city it could be. In my city, there is a newspaper that is not that well known that has a large legal section. Here is where the gold is at! You can find out who has code violations and mail to them. Honestly, I have tried this once and did not do well but I have a lot of competition in my city.

Just try to get into local meetups about real estate, and there you will learn who the major players are and you can talk to them. Ask them what they do. I found my mentor here on BP by going up to the top bar on this site where it says Network and I entered my Zip Code and started reaching out to other investor hoping one would give me the time of day. If they are good- then they will try to guide you. At least this has been true in my experience. The good investors who care about others and really want what is best for people are the only people I try to work with. Do not give up! You just push through the noise and never quit Ray!  -Stephen Barton