All Forum Posts by: Shannon McLeod

I'm a wholesaler here in DM and I tried to call the water company to get a list of properties that have their water shut off. I was told flat out they do not carry that information, but I'm skeptical and don't quite believe it yet. As I understand it, water companies, especially publicly owned ones, DO carry this information. Does anyone from Des Moines know if this list exists or not, and should I keep trying to procure it from the water company?

My reasoning behind wanting this list is to get a good list of vacant properties. 

@Sam Shueh That is what I'm thinking. I probably have those properties on another list I had bought for cash buyers in that area....as Lydia pointed out those properties may just be sitting there for the winter until they get rehabbed when the seasons change. I'm not going to spend much time on the LLC's, will keep them and mess around with them later. For NOW, I need to get some deals!!! I'm ready to get this thing started off the ground and the more efficient I can be with my time and focus, the better.

@Ian Walsh What do you mean by "solidifying the thinking from the other side?" Do you mean your leads are not somewhat prequalified when you initiate communication?

@TC Greenwood I first checked out the localities where a lot of cash buyers had purchased homes in the last 12 months with 100% equity. I then confirmed the locations that were hot with other people. I only focused on those areas and the zip codes I thought were going to give me the most bang for my buck so to speak. We also had about 15 inches of snow that stuck to the ground for about a month....so what this meant was that the vacant properties were very apparent. Why? Because no one had bothered to shovel the snow in the driveway. Dead giveaway! My strategy is not just driving for dollars, it's driving for dollars when the timing is right and where vacant properties are very apparent. In the course of 4 sessions of driving around, I got a good solid list of 130 properties. That was after scrubbing the list.... and last night skip tracing came back with quite a few numbers. I'm now set to start cold calling, utilizing some of the scripts and techniques Brent Daniels uses with his TTP methodology.

@Jill DeWit Thanks for the great advice! Love it :D

@Jill DeWit From all of the information I've been researching, Driving for Dollars is very much still a path a person can take to get a vacant property/absentee owner list. First I collected data to find out where the hottest zip codes are, uploaded that date into a map, and then found the areas the buyers paid cash and own 100% equity. 

I'm just getting started and it's my understanding Driving for Dollars is a great way for someone to get started in wholesaling with a low budget. It sounds like you're doing other marketing channels like direct mail. That all sounds great, but I don't have the money for it right now. 

Ah I see! The part you mentioned about the house sitting vacant until it gets rehabbed was of value to me. It IS winter here. I think the value of skip tracing these people would be to connect with buyers in the location I am prospecting. Thank you!

Quick question for you guys. When driving for dollars and coming across properties that are vacant but owned by an LLC or a corporation, is it worth trying to research the number of the LLC (I'm told batch tracing companies do not skip trace these).

Would I look these people up and treat them as potential tired landlords? I'm just starting out and I'm trying to be laser precise on the leads that I spend my time with...would I be wasting my time and better served by moving on? 

Hello there BiggerPockets members!

I am a new wholesaler in the Des Moines, IA market and looking to network on here and contribute. I do have to say this place has an amazing amount of advice from very knowledgeable people and I'm extremely grateful for all that you guys have provided! I read that this forum and site can be just as valuable, if not more, than these expensive courses provided by "gurus." Looking forward to talking with you all!

My intention is to practice this craft with integrity and honesty.

Here are a few things that I am currently trying to establish:

1. Title companies in the Des Moines/Polk County area that are investor friendly and can work with assignment contracts/double closings
2. Networking with Realtors that are investor friendly.
3. Looking for purchase and sales agreements specific to my market and the common contingency clauses
4. Looking to connect with other successful wholesalers in my area.