Indeed wholesale houses represent a fantastic opportunity for wholesalers to make money with zero investment. However, these properties are not readily available so searching the MLS won’t do the trick. In order to find a wholesale house you need to do some legwork. And this is exactly what we’ll teach you in today’s post.
How to Find Wholesale Houses
Here are some of the best ways to find wholesale houses:
Mail Distressed and Pre-Foreclosure Homeowners
Pre-foreclosure or distressed homes are properties that are in the early stages of being repossessed. A property is in a pre-foreclosure status when the lender files a notice for default on the property. The notice informs the owner that they will pursue legal action if the debt isn’t paid.
In such a scenario homeowners may be ready to short sale through a private transaction. However, many homeowners may feel embarrassed and don’t want to admit that they have a payment problem. This is where you can mail them to gain their trust. Also, through mail you can educate them on how you as a wholesaler can help them sell their property fast.
Canvassing neighborhood is yet another effective strategy to find wholesale houses. However, what makes this door knocking technique different is that it is focused on building relationships with motivated sellers. Simultaneously, it also allows you to establish a strong presence in a specific area.
To execute this strategy, first select a territory. Then gather specific data to filter out motivated sellers. Use the captured data to nurture leads by visiting them in person and convincing them how you can help them with a fast sale. This will help convert leads to clients and help you get contracts for wholesale houses easily.
“Sell Your House for Cash” Websites
The next strategy to find wholesale properties is to visit ‘sell your house for cash’ websites. Here you can find details and motivated sellers. Many FSBO sellers will use websites to list their homes such as Craigslist, Zillow, and even Facebook.
Word of Mouth
Another great way to find wholesale houses is through networking and word of mouth. Word of mouth can also facilitate you with finding amazing real estate wholesaling deals. The power of this strategy can’t be denied. About 62 percent of consumers search for customer reviews before they buy a product or opt for a service provider.
Well, if you deliver excellent experiences to your customers, they are more likely to refer you to their friends and family. Therefore, you must try to deliver best experiences to your customers so that you can get more referrals.
So, if you’re new to real estate wholesaling, try these strategies to find motivated sellers looking for a fast sale. Good luck!