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Updated over 7 years ago, 05/06/2017
What Strategy to Target Next
Hello BP Members.
I need some help on which section of property owners to target next. I am a Wholesaler and I am currently focusing on the Wichita Falls, TX market. I have pulled all of the Absentee Owners for the area by zipcode and I am finishing up my second round of yellow letters with the last batch of letters going out tommorow. I've had some decent success with closing two deals and two more that are in contract and should be closing soon. I figure I should give this list a rest for a month or two and then come back to it for the third pass. In the meantime I am trying to figure out what I should focus on next and I need some advice. Here are a few ideas, in no particular order, and I wanted some feedback.
1. 100 % Equity Owner Occupied Properties with a Sales Date of at least 10 years and beyond (per Tom Krohl style)
2. Go through the hassle of getting with the city to try and obtain a list of the tax delinquent properties with balances from 2015 and beyond
3. Code Violation properties
That is the only three I could think of so far. Whats everyone's thoughts and also any other suggestions is always appreciated.
Also on a side note and different discussion I should have about $10-$15k in capital once these other two deals close. I'm wanting to wait until I have around $50k-$100k built up before I start on my next stage of the investing career which is rehab and resell ( then eventually rentals). In the meantime what should I do with this money short-term while I am waiting to save it up for an eventual rehab? What are some good short-term investments that are safe, easy to liquidate when needed, and still make me more money than the 0.01% that the bank pays?
Thanks
Robert