If you’re looking to find wholesale properties in Chicago, well take out a pen and pad and get ready for the golden nuggets. It’s obvious by now that wholesaling properties in Chicago is what my business is currently doing. Since we have learned the best ways to market deals to reach a wide audience, it’s a sure thing that by giving you these tips, you will be able to find more than just a few properties that are ready for wholesale.
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!
So you’re looking to invest in Chicago’s South and/or South West Side, eh? As a wholesaler, the south side is a typical place to start looking for deals, as many investors are currently buying out the foreclosures. Now before we continue let’s set up some parameters for when I say, “South Side”. I am specifically speaking of neighborhoods south of 55th, east of the Dan Ryan and Highway 57, west of the Skyway, and stopping before Calumet City
Once you have put up your advertising and marketing to attract motivated sellers for your wholesale business, you must know how to take a call and screen potential sellers. You should practice taking in leads at least 2-3 times a day until this becomes natural for you. You will want to make an interview sheet with a check list and space for the answers.
Tips on Investing in Chicago Real Estate
Are you looking for wholesale deals in Chicago? With so many neighbhorhoods and areas to choose from, I know it can get quite tricky. For any investor looking to purchase real estate in Chicago, the first thing they should know is Chicagos vast layout. There is a little bit of something for everyone here in Chicago. I have made general summaries for each side the city has. Each side has its own neighbhorhoods. The south side for example consists of areas like Hyde Park, Chattam, Burnside, South Chicago, Chicago heights, etc.. Hopefully these short descriptions will give you an idea for what to look for and where to start. For investors looking to stay in the north side of chicago, I have broken it down for you.
If you are new or just getting started in the wholesale real estate business, you probably want to get down to nitty gritty.I respect that so lets get started.
If you don’t already know, Craigslist is one of the most visited websites online today. It gets billions of hits and it is one of the top searched sites for every major city in the US. Not only is this site free, it’s great to boost web traffic and get in front of a targeted audience. As a wholesaler, craigslist should be on top of your must do list everyday. Although it may seem as easy as placing an ad on the site and calling it a day, its not as easy. As any marketing campaign you implement, there should be a schedule and an order of doing things. Here are my tips that will help you when posting craigslist ads for your real estate wholesale deals.
If you are just now getting into the profitable world of wholesaling, the internet is a tool you should become an expert in. The majority of buyers and investors are going online to find deals. There are so many websites, listing pages, and classified ad sites that its hard to tell which is best. It is always changing and will never be the same, but for now, I have compiled a list of sites and online tricks a wholesaler should be doing in order to find cash buyers for their real estate deals.
As a wholesaler you should always call on the “we buy houses” signs scattered throughout your town. Despite the advise of gurus, I recommend you always be honest and say that you are a wholesaler working with cash buyers to do deals. I bring this up because when you start putting up signs, you will be getting called by others who claim to be cash buyers when they are just wholesalers. Knowing other wholesalers will help you leverage their time and efforts to get deals sold quicker. Like all the aspects of real estate investing, you should know what to look out for when working with wholesalers to get deals done. My advice consists of knowing your numbers, controlling the deal, working with pros, and setting a professional standard.
When you start looking for cash buyers for wholesale deals, use craigslist ads online and put out announcements throughout the city, either by placing a sign alongside the road, or an ad on penny savers. Direct all of them to go to your site and sign up. You will use the email service provider to get in touch and Wordpress to host your squeeze page. While you start building potential buyers, start looking for sellers. Buy the list, and send it. Track your response and send that same list a follow up letter within 3 weeks. Repeat the process for at least 4 months.
If you are a wholesaler or working with one, or just researching this niche in real estate [chicago wholesale property] for yourself, you will come across many uninformed individuals who will tell you that having a realtors license is needed to wholesale. These people are wrong and misinformed. They just don’t want you to promote yourself as a real estate advisor or consultant unless your licensed, which is what they are trying to tell you. Just remember this, as a wholesaler you are acting as a buyer and any contract is assignable to another person. Simple as that.
