All Forum Posts by: John Cannon

If you got the property lower, then you may have an easier time to find a buyer. But no one mentioned put it up on craigslist and list everything that is wrong and list your numbers and see if you get a bite. Or you can call all of the people that have we buy house ads all over Craigslist as well and see if any of them will buy it. Or if you run into a wholesaler while do that you could always JV or joint venture with them assuming that they have buyers.

Some of the ways that I have found buyers is go to REIA meetings and network with others there. But most of the time, most of the people there are new themselves and it is harder to offload a property to someone at the same experience level as you. However, you can find some buyers. I would recomend talking with the realtors there just to get them on your buyers list as they may have a buyer that is looking for properties.

If you don't want to leave your house or can't go to these reia meetings, check out meetup.com and search for the REI groups. Send the ones that have experience an email and see if they want to join your buyers list.

You could also post a blind ad on Craigslist but I don't recommend that because you don't actually have a deal. But instead you could post on there looking for buyers or something like that.

You can also ask a realtor or the title company to get you a list of all the cash sales in your area for 6 months ago and then send them a postcard or letter saying that you noticed they bought property x with cash and want to know if they are looking for more properties as you find them at a discount. Get their criteria and go find the deals. 

I have never done this, but you can go to the courthouse steps during auction day and talk with all the people there as they are buying with cash and see if they want to be on your buyers list.

Hopefully this gives you an idea or even some ways to get a buyers list going. 

Usually what I do, if I have to put a EMD down, I get my buyer to put down even more. So normally I have them put a $5,000 EMD. I get $4,000 if the deal falls through if I put up $1,000, or if I want to be compensated for my EMD I can have them out up $5,000 plus my deposit. But it's pretty hard for the deal to fall through when you hold the buyers feet to the fire.

You can find the tax delinquent from the county you are in. And for the high equity, I get it from listsource.com

I go after the tax delinquent list. If you send to all the ones that are 2 years or more behind, they tend to be the most motivated to sell their property as the county is about to seize it from them.

Also High Equity is a good one to go after as well.

Hey @Mark Pedroza, I followed the link that you posted... There isn't anything there for any of Nevada. I also checked the RGJ as well and I can see all of the same info on washoe county court's webpage. That may be a hair faster to find the case numbers and PR's, but unfortunately, I still have to go to the court house and get the addresses.

Thanks for looking out though. 

I would agree with @Edward Burns about those may not be the best source of leads, except Probate. Probate leads are very good and they are much cheaper to send to, but it takes a lot of work to get them, and that's why no one is really going after them. I like to stay away from the MLS as the majority of those sellers aren't really that motivated. Heck even the NOD sometimes want way more than their house is worth and they have the equity. The lists I go after are; Tax Delinquent, High Equity owner occupied/absentee, Probate, and sometimes code violations if the city or county is willing to give them up. From what I found here in the Reno, NV area, this may not work in your area, that tax delinquent are the most motivated to sell. Especially when they are 2 years behind in taxes and the county is about to seize the property.

Welcome to the area! I am a wholesaler here in Fernley, but do often travel all over the area to find great deals. Don't hesitate to reach out for any reason.

John

The deal fell through. I couldn't find a buyer for it if I were to take over the mortgage, and the seller was not really wanting to do that. Plus there wasn't enough room for there to be any profit for a fix and flip as it was pretty beat up.

Just do what feels right to you. If you want to spend 2 or more hours or even 30 seconds analyzing the deal, then do that. You don't want to get into something that will end up biting you in the rear.