When you are driving through your farm area, you must know the typical signs of your average wholesale property. Not always do the properties exude these characteristics, but if they do, it is a great indicator of its potential as a wholesale deal. As if we were playing poker, I have listed 5 obvious tells of a potential wholesale property. If you see a property with two or more of these tells, start finding the owner because you can bring it in and flip it to your buyers!
Grass and lawn are un-kept. This is not always a give away, but look for newspapers piled up on the grass and if there is trash being collected out front.
Roof has holes, a tarp, and/or needs mild/major repair. Many wholesale deals are found this way. Having a bad or old roof means the owners can’t manage the property and/or no longer live there. A roof is very important as it covers the house, so a bad roof is a good sign of negligence and distress.
Has an abandoned car(s) on it. Believe me, if you see a car, tires, or other auto parts in front of a home, it’s safe to assume the inside is not pretty either. It’s not always easy as you will have to look for other tells to see if it’s a wholesale property.
Newspapers and bed sheets cover the windows. You’re best wholesale properties will be vacant homes. Any property with anything but blinds on it will be a clue. If its vacant, or owned by someone who doesn’t take much time to keep the place up to par.
Front gate is locked, but the property is not boarded up. This is a very easy to detect sign of a distressed property and potential wholesale deal. If there is a lock, with a chain link, on the front gate but not boarded up, it’s safe to assume its vacant and still owned by an individual not a bank.
There are other tells you will start learning for your own farm area once you get out and get going. Once you have solid buyers and know what they are looking for, your confidence will rise and your searching ability will follow.
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