How to find an good wholesaler in my area

Question

I am an full time investor in Fort Myers Florida and Lehigh acres area.  I have always been buying houses from auction locally.  But now. It seems like it is running out of foreclosure auctions. And MLS just doesn't work for me anymore as far as enough cash flow goes.   So I am looking at wholesaler for some deal.  But how do I find an good wholesaler and getting the deal Locally ?

Kevin Dong · Answer

Sounds awesome.  With flipping . Deal has to be better than the one you are holding for rental.  I do flipping as well. But deal has to be 70% under market value. If not. It is not even worth to look at. .  The reason why I am looking for wholesaler now. Because  I am looking for some rental properties.  80%-85% would work in this case. That would gets me more than 1.5% return. And I am okay with that

Benjamin Cowles · Answer

just keep your eyes open.  craigslist, I just missed a deal because I showed up a couple hours later than I could have after someone else showed up.  but i think they probably over paid. i missed another a few months ago simply because another investor took it without an inspection contingency, so depending on your experience, you may be able to take advantage of a quick one like that.  bandit signs.  I'm on a couple wholesaler's lists.  haven't been presented with anything attractive yet. well almost, but these guys were just slimy as f*** so even though the numbers looked good I just had a bad feeling about these guys.  i'm guessing most are  slimy.  but that's life right?   I'm not sure about them in "hiding" as john said, since I've easily found a few.  but maybe there are a lot more hiding.  I'm looking to rehab and flip at the moment, but will bookmark you for future reference when I decide to wholesale myself.

Kevin Dong · Answer

you meant direct mail?

John Thedford · Answer

There are a few licensed ones locally. I have not purchased from either. One in particular seems to offer properties with high prices and little margin. The unlicensed brokers have mostly gone underground because they know they are committing crimes. We have one local guy that MAY get slammed with a felony this time around. As to finding properties, source your deals through advertising.