Probably the number one easiest source you can get deals from is other investors. Not only do other investors wholesale properties, but those investors usually also buy properties to fixup and flip, some have rental properties for sale and others may be willing to partner with you on flipping a property retail.
There Is Money In It For Everyone
Don’t think you can only get the best deal if you find the properties yourself or that you would be missing out on part of the profit if another investor is making money on the deal. Sometimes, another investor will luck into a really good deal. So, if the numbers on the deal they are selling work for you, and it’s a property you want, buy it.
Remember, don’t think of other investors as being your competition. By working with other investors and letting them do the leg-work, you can do more deals and make more money.
Locating Other Investors
Here are some basic ways to get started right now locating other investors in your area.
Ads on Craigslist
To begin locating other investors right away, jump over to craigslist and do a quick search for ads placed by real estate investors looking for or selling properties. You’ll want to search for such keywords as “house wanted”, “cash for houses”, “will buy your house”, “rent to own” etc.
Section 8 Listings
You can even go down to the local HUD housing assistance office and get a list of available rentals under HUD. Most of the private landlords on these lists are investors looking to buy, sell, and rent out properties.
Don’t forget about your local investor’s association as well. It is a great place to network with other investors and this is one of those places where having business cards can really come in handy. You can find a list of local REIAs in your area by visiting the resources section here on Real Estate Investing.
Your Business Contacts
You can also find other investors by asking your business contacts such as title companies who close a lot of investor deals or real estate agents who deal a lot with investors. Many times, some of your business contacts will know who the “movers-and-shakers” are, and may be able to either point you in the direction of a property they know of, or at least in the direction of an investor or real estate agent who has deals on a regular basis.
When at your local REIA meeting, be sure to ask other investors if there is a title company most investors tend to use. You can also check with other investors on this site in the discussion forums.
Houses Being Rehabbed
When driving around looking at properties, you’ll want to keep an eye out for properties that are being rehabbed. If you see a property being worked on, stop to see if the owner is an investor. If they are, they sometimes wholesale deals. You could even go as far to see on public record who the previous owner of that house was to maybe see if the deal was bought through a wholesaler investor or investment company. Then, contact that company or look them up online to see if they have other wholesale properties.
And don’t forget to look for signs on the street corners or on any telephone poles saying someone buys houses. Most of the time these are wholesalers marking to find deals. If they are finding deals, then they are almost always selling them wholesale of doing fix and flips. Bandit signs are a fantastic source for finding other investors wholesaling property.
Lean More Ways, What Are Your Ideas?
If you have a great way of locating other investors who are wholesaling deals, please click the green discussion button below and let everyone know.