How to find Wholesale Deals in Any Market – Especially Chicago
If you’re looking to get started in real estate investing, it is obvious that wholesaling will be the quickest, fastest way to learn and make money. Many people do not know where to begin in order to find property to wholesale, which is perfectly fine. Wherever you live, it does not matter where, you will always have properties you can wholesale. The trick is having the right marketing in place to help you while you get started.
Wholesaling can be super easy and fun once you get started and going. The marketing you do is your bloodline and you should have more than just bandit signs going out every other week in order to pull in potential wholesale deals.
Below are three types of properties and some information on how to find them. Also, make sure you have a small budget of 200-500 dollars to begin marketing for your wholesaling deals because you will need to buy lists from list providers, envelopes, and stamps!
- Probate – Probate property is a very good area to start looking for deals. When a property goes into probate that means that the owner has passed away and a family relative inherited the property. Many people who inherit property are normally not attached to the home, or have a great desire to put 20-50 thousand dollars into a rehab property. You can find a list of probate property to wholesale at the county or online. You will need a probate letter saying what you do and how you can help, envelopes, and stamps!
- Junkers – Junkers are the ugly property that sits in a nice neighborhood. Typically these properties make for great wholesale deals because they are empty and don’t have too much emotional attachment with the owner. You can find these by driving around and writing down the various addresses of homes that look junky. Look for newspapers collecting on the lawn, bad roofs, uncut grass, signs of deterioration, and anything else that catches your eye for being ugly.
- Absentee Homeowners – These are property owners who do not live in the property. There are landlords who have worked and reaped the benefits of a property and may be looking to get rid of it. Many times landlords are burnt out, want to do something different, or are retiring. If you are looking to mail this group a piece of mail, look for the homeowners who have had their property longer than 14 years, there will be equity in the homes and they may want to do a quick sale.
Wholesaling is a great way to start investing so make sure you use these tips for help build your pipeline and grow your business! The key to wholesaling is to have multiple campaigns going on at once. For more information just visit us at our website and we ill have more info as well as Wholesale Deals here in Chicago and Chicagoland area. http://www.ChicagoCashFlowProperties.com
