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Updated about 6 years ago on . Most recent reply

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Johnathan B.
  • Puyallup, WA
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New to wholesaling. Let me know how I can improve

Johnathan B.
  • Puyallup, WA
Posted

I am in Washington State. I am going to start wholesaling homes. This is my strategy. Please let me know if you have tried anything and if you have any suggestions. 

To find cash buyers:

Ask title company for a list of properties sold without a mortgage lien and contact to find if they are investors

Attend investor group meetings in my area

Contact "for rent" ads on craigslist

Ask everyone if they know someone investing in real estate

To find motivated sellers:

Search county and city code violations and condemned properties. Reach out to the owners and see if they need to sell. 

Ask title company for a list of high-equity, absentee-owner properties, preferably older homes.

Contact pre-foreclosure homeowners either from Zillow or other sources

Try to find homeowners with 2+ years of delinquent taxes before it goes to auction.  

 From there, I would filter down to the most motivated people who would take a very low price, perform a title search to check for liens and title issues, get a contractor to give a more accurate estimate for repairs and use that to refine my calculations, get the contract and necessary forms signed to secure the property and then finally market it to my buyers. 

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Aaron K.
  • Specialist
  • Riverside, CA
3,800
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

You have put more thought into this than most people, however be sure that you know what buyers are looking for before you go buying condemned houses, many people won't touch them if you paid them money.

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