finding properties buyers want

[Corey Miller]

I have a couple of potential buyers, but the problem is finding the property their looking for. I'm trying to do an assignment of contract,so how do i find the property their looking for in new york with fsbo because banks don't do assignments of contracts. and when buying from the owner most of the time do they have equity in their property?

[Ryan Webber]

You won't find deals with "FSBO's". FSBO meaning the seller is actively marketing the property to sell it.

The "normal" wholesale deal does NOT have a sign in the yard trying to sell it and has no advertisements. Normally the seller will be contacted by or will contact an investor directly and that's how the deal will go down.

There is always equity out there. On average over 30% of houses have absolutely no mortgage on them. Whether the market has gone up or down, left or right, it doesn't affect these 30%.

Wholesaling is not easy. Deals don't just fall in your lap all the time. It takes work and diligence to find the people that have equity and that are willing to sell at a deep discount, but they're out there in every market.

Figuring out how to find them is why wholesalers make money. I would recommend you set up a marketing plan. You need to start with 2 or 3 different strategies for finding deals and work at them consistently and persistently week after week or month after month. Once you've got 2 or 3 under your belt that you are consistently and persistently working, figure out 2 or 3 more. And then as you figure those 2 or 3 out add 2 or 3 more. Keep doing this until you are working 15+ strategies for finding deals consistently and persistently.

Some strategies work better or worse in different markets at different times with different demographics. Work each strategy for at least 6 months before you determine it does not work or that its not cost effective.