All Forum Posts by: Gordon Cuffe

I will have to assume that you do have much money for marketing so if you want to get started wholesaling write down the addresses of ugly old homes that you drive or walk by. It will be tough to find someone who really wants to sell because you might write down 50 addresses of dumpy homes and contact them all and they just dont want to sell right now. At least that is a start. Once you have the addresses go to cyberbackgroundchecks and propwire and get their names and phone numbers. Both are free websites. put the address in propwire and it will give you their name. put their name into cyberbackgroundchecks and you will get some phone numbers for them. Then call and say "hey I was driving around the neighborhood and saw that your house needs some tlc, do you think you will be wanting to sell sometime soon?   it is either a yes or no answer.  If you ever get someone who says yes then ask if you can come by and check out the house. That is the point that you reach out to people to help you walk through the deal. 

The value depends alot on the zip code that the property is in. You know that there is a bid difference in values going from del paso to nice parts of downtown Sacramento. Ask a realtor for some comps within one mile of the property. Do you really think a small studio would rent for 1700 per month. That is alot for a single person to afford . 

@Lincoln Bartlett You will need to use propertyradar, propwire, or propstream to create lists and reach out to distressed homeowners via postcard or text message. You can also try building your own website and get very good at seo or ppc in order for the homeowners to reach out to you. 

@Krissi Miramontes I can give you the name of a property manager in Toledo if you want to check them out. I live in Roseville and I wholesaled a property in Toledo a few years ago. I guess I cant post the name of the PM so you have to dm me for their info.  I still own out of state properties but have been ripped off many times in the past. 

@Maryann Nichols You will not find any properties on BP to flip. You might learn a very little bit about wholesaling. You will learn a lot more about wholesaling on youtube, instagram and google. I have been on BP a long time and maybe about eight years ago , a person had a small chance of finding a posted house for sale here that can be flipped. That is long gone now. I look every day for off market houses to flip. I spend money on postcards, distressed lists and a website. It takes a long time to find an off market deal. You might want to find local rei meetups to meet people in your market that are doing deals. 

@Krissi Miramontes sounds like it was a nice project. I am always on the lookout for off market properties around the Sacramento area. I just received an offer on a remodeled home we did in Sacramento 95824. 

@Aaron Provencal I would have guessed something like that would take longer than expected. Did the property sell and close ? What zip code is it in?  Will you be looking for another project in the Sacramento area soon?  I would bet you dont want your next project to be so extensive. 

@Akbar Umar I am in Sacramento county also. You should check with your 1031 provider quickly. I am pretty sure you can not do a 1031 and use the proceeds to do anything to a primary residence. A 1031 exchange is for selling an investment property then buying another investment property. 

@Camille Romero I would not buy a property in a city with a declining population. I visited detroit this summer and I was surprised on how nice downtown Detroit was. Prices are low and they hit the bottom during the real estate crash. The other cities you mentioned should be fine also. You just need a good property manager. You also need a good source to acquire the properties at a discount. 

@Kent Kettell I hope not. lol.  I am actually looking at a house that is not a Victorian but needs part of the home bulldozed and a ton of work done. I am just being more careful on the price because I know it will take five months so I want it to be worthwhile if I am going to do something like that. At least this next potential home is only a single story so I cant fall as far.