Vacant Houses

[Ember Meadows]

Basic Question: IF you are a wholesaler, do you only put offers on vacant houses? Obviously if you are trying to flip it-people are going to stop by, and if someone is living in the house they could get in the way or possibly try to cut you the middelman/woman out.....

[Jerry Puckett]

Ember Dye,
I have made plenty of offers on tenant occupied houses. This is how I handle both sides of the equation.

I have the landlord make an appointment for me. He can tell the tenants whatever he likes, but what works best (if he's afraid of spooking them) is to tell them he's having an appraisal done for insurance adjustment, refi loan....what ever. The appraiser will be there on such and so, and will be taking pictures.

While I'm in the house, I take lots of pictures, and even shoot video. I also chat with the tenants and can ask candid questions about the plumbing, electrical, etc. I ask about the neighborhood. Once rapport is established, I can probe them over what they really think of the house, ever thought about buying (one of my mentors has found more than one buyer this way, though I haven't yet.), know anyone who'd like to move into this neighborhood. All in all, takes about 20 or 30 minutes.

The pictures go into 2 categories. A) the ones I use to negotiate with the seller (close ups of wood rot, foundation cracks etc; and B) the good features or selling points for marketing. I make a great presentation out of the pictures, video and info I gathered. Usually enough for my buyers, but if not, I now have my own relationship with the tenant, and feel comfortable calling back and asking if I can come by with an associate for a quick walk through to verify my results. Never had a problem.