Looking to get started in wholesaling

[Adam Kuhn]

I am new to the forum as of today and have started browsing the forums but there is so much information it is slightly overwhelming. I am 23 years old and just purchased my first "rehab/flip" house. I work full time and have started real estate investing on the side. I also own the duplex that I live in. I started a property investment business with my dad in which we purchased that first flip house. We have some money already however I am looking to do some stuff on my own. I would like to start wholesaling houses in order to make some money so I can invest in real estate part time(3 days a week) and work one of my jobs the other 2 days. I have done some reading however I am not exactly sure of the first steps to take. Any suggestions as far as finding houses and finding investors interested houses is mostly what I am looking for. Does anybody have any good places to start.

I know this is vague and there are probably several similar posts however direct advice would be much more helpful as I spend my nights and weekends working on this new house and don't have much time to spend on the internet.

Thanks again.

[James Hiddle]

How to find buyers:

1.Market on online sites like craigslist,backpage,etc. You can use a headline like "Looking for investors who buy below market value" and go from there. Also you can look for those ads that say "We Buy Houses" some might be wholesalers but some are rehabbers just contact them and find out.

2.Drive for dollars. Go to low income neighborhoods and look for vacant properties. Properties with huge yard growth,mail box stuffed with mail,newspapers stacked up like crazy stuff like that. Write down the address and take it to the court house to see where the tax bill is going to. Or you can try your local online court house page and see if you can do that there. Than do a direct marketing campaign to get those owners to come to you.

3.Your local REI club is also a good source of buyers. Start networking with the members there.

4.Social forums like this is also a good place to find buyers.

5.Local newspapers. You can either advertise yourself or check those "We Buy Houses Ads"

6.Bandit signs. I'm not a fan of these but it seems to work for some.

7.Attorneys believe it or not some real estate attorneys have a list of clients that they work for and those clients are investors themselves. Get really chummy with some attorneys and see if they are willing to share their client list with you.

8.Lead generating sites. You can build a lead generating site like I have in my sig to attract buyers.

9.Property managers. Some managers might have a nice size list of landlords that buy rental properties.

10.Contractors,sub contractors are also a good source to find buyers.

There are a few more but those are some of the basics.

How to find sellers:

1.Online ads like craigslist,backpage,etc. You can also go to fsbo sites or frbo sites to see what they offer.

2.Bird dogs. Hire a property locator to help find some deals for you. Especially if you are investing out of town. You would want someone local that knows the area to help bring deals to you. You can pay them some nice change and that will motivate them to bring you more good deals.

3.Lead generating sites

4.Local newspapers both online and offline.

5.Your local REI club. Some members might have too much on their plate and might be willing to let you have the deals they can't handle.

6.Bandit signs

7.Drive around and look for "For Sale By Owner" or "For Rent" signs

And again there a few other techniques but those are also the basics.

And most important keep reading the info on this site and you might find some more tips and techniques that will help you out.

Hope that helps.