Wholesale

[Lisa Brown]

Hello bigger pockets community! I am so excited about kicking off my new venture as a real estate investor. My focus right now is trying to obtain a wholesale property. I have looked for properties on auction sites and the traditional real estate sites. How do I obtain an inventory of homes that I can further investigate?

[Chris Piper]

@Lisa Brown What you should be looking for are "Motivated" sellers. You typically won't find them on auction sites or the MLS. You can put out bandit signs to get motivated sellers(AKA- "WE BUY HOUSES"), you can drive for dollars(look for vacant houses, track down the owner and contact them), call FSBO's(for sale by owner), or you can buy a list online(listsource.com). Also, you can have an agent look through the MLS for REO's(bank owned properties). Usually, banks either sell cheap or will sell at a big discount. Most times if you buy a list, it won't give you a phone number, so you'll have to mail a yellow leeter or postcard to them multiple times probably before you maybe get a response. You could use a company like Been Verified where you put in the info, and it will give you a phone number so you can call these absentee owners.