Wholesaling MLS Properties

[Sandy Weed]

Does anyone in the group successfully wholesale MLS properties? Any tips and advise is appreciated. I am a licensed realtor in NJ.

Thanks 

[Bill Gulley]

Originally posted by @Amanda Keller:

Originally posted by @Bill Gulley:

Originally posted by @Sandy Weed:

If you're looking for buyers, you can find them at the courthouse. :)

I HAVE A QUESTION ABOUT FINDING BUYERS AT THE COURTHOUSE, HOW DO YOU FIND BUYERS THIS WAY

 WHY ARE YOU SCREAMING?

Recorder's office, deeds filed to grantees without a mortgage lien are cash buyers. 

Grantees that are a business entity buying homes are going to be landlords.

Grantees names who show up several times in the Assessor's Records are investors.

Grantees that show up having more than 2 properties even if there is a mortgage lien, will probably be investor/buyers. 

Grantees who show up as Grantors on the same property are flippers.

Deeds of Trusts filed with the same names popping up are also buyers, lenders that are not known institutions are private or hard money lenders. 

How do you know if the property is sold is a residence? Usually the legal description tells you, a Lot and Block description in a named subdivision is usually a residence. Lot 17, Block 4 of Sunset Subdivision according to the recorded plat thereof; is probably a house. 

If it's a "Meets and Bounds" description, it's in a more rural area, those will begin at a marker to a point of beginning, thence giving directions and ending at the point of beginning.

Some title companies have a legal news type publication, closings done the past week, start collecting those and you can see who is active, buying, selling or lending. The Recorder's Office may have a similar listing.  

Learn your courthouse and the land records system, how to read a legal description, who grantors and grantees are in deeds, if you don't know this stuff you can't know real estate. :)