Quote from @Sam Bhattacharya:
Quote from @Anthony McEvoy:
Hello @Sam Bhattacharya - honestly, they're in many markets. However, in today's environment, most are going to be found off market via methods such as mailers and networking. Check foreclosure listings and sheriff sales, too.
Another way is to look for listings that aren't as obvious as a house in bad condition you can add value to. Such as a two bedroom house that can easily be converted into a three bedroom. Perhaps an unfinished basement that could be finished for another bedroom and bathroom.
I viewed a house over the summer that was two bedrooms because someone knocked down a wall in the third bedroom for a larger family room. I recognized the opportunity because the square footage of the house seemed large for only two bedrooms for the area.
Best of luck!
Do you think the line between investors and wholesalers is becoming blurry? Because the things you mention doing are what wholesalers do.
Wholesaling is a form of investing. It is short term investing... often real short term.
Wholesalers and BRRRR Investors are seeking similar types of properties... properties at a discount. Wholesalers are seeking properties they can purchase at a discount while providing the "easy button" for the seller. It may not always be the condition of the property but the ability for the buyer to pay with cash, close quick, etc. BRRRR investors are looking for properties that are in physical distress (needing rehab) or have characteristics that are lagging behind the neighbor demands (i.e. too few beds/baths). Therefore, their property searching results in properties they can get at a discount compared to the after repair value (ARV).
Obviously, the end game is different with the wholesaler trying to resell it closer to market value while the BRRRR Investor is looking to refinance and hold.
I do not think the line is becoming blurry. I think there is more overlap with some types of investing compared to others.
