Wholesaling in Houston

[Winniferd B.]

So I did some more cold calling today for some properties I found while cruising for cash and I spoke to what I think is an extremely motivated seller. She said that the property had been listed by an agent but didnt sell and Im assuming it expired. It was listed for 105k, but she said right now they are open to all offers. They purchased the property in 02 with the intent to renovate...not sure why it never happened. I did some research and found out they hadn't paid the taxes for the last few years, but they are only about 2,700.00. They're also a little over 3k delinquent on the taxes for the home they live in....so apparently they need the money.

Now I'm suppose to meet them on Saturday morning so I want to make sure I've done my homework and make the best possible offer possible without offending them. The neighborhood has homes that sell for up to 300K. It's a potential 7 unit multi family and located near a college so there's great rental potential there. She said its in ready to renovate condition.

Im new so I've never done estimates..would it be wise to bring a contractor with me for the walk thru. Is that even possible?

Also, when you make offers to you go into detail as to why you're offering what you're offering?

And where can I get the most accurate comps since I dont have access to MLS or an agent right now?

[Aaron Cheatham]

I'm new to wholesaling but I've dealt with about 3 home sellers and locking in contracts as I type this.

Here is my 2 cents.

-You can bring a contractor with you the home seller doesn't need to know that the person with you is a contractor.
- I give low offers and settle on a good price. To justify my offers, I basically make a list of everything I think needs changed or updated.

I then go get HIGH end prices from home depot and bring them with me while meeting the seller and show them why my offer is what it is.

I also print out comparable sales in the area.

Most of the time, the seller doesn't get offended by your CASH offer. I normally give a offer and test the waters and don't respond back for 2 or 3 days.
After a few days I have my "ASSISTANT" contact the home owner and see how things are going and what they don't like about the offer.
Good Luck
Aaron