Oct 15 in General discussion
Overcoming the Biggest Hurdle: Finding Your First Deal (pt. 1)
Starting your real estate wholesaling journey can feel overwhelming, but the key to success often lies in finding motivated sellers. These are the people who need to sell fast and are open to creative deals. In this post, we'll explore a few key strategies to help you uncover these opportunities.
1. Distressed Properties One of the best places to find motivated sellers is through distressed properties. These homes are often in poor condition, and owners may lack the time or money for repairs. Driving for dollars—driving around your area to spot rundown homes—is an easy and cost-effective way to find these leads. Make note of overgrown lawns, boarded-up windows, or vacant-looking properties, and follow up by reaching out to the owners.
2. On-Market Deals Don’t overlook properties that are already listed on the market. Even though these homes are listed with agents, many times sellers are willing to negotiate on price, especially if the home has been sitting for a while. Look for homes that have been on the market for 90+ days and see if the seller might be open to a quick, cash offer. Sometimes, working with real estate agents to access these deals can be beneficial.
3. Direct Outreach Strategies Sometimes, the best deals come from simply reaching out. Direct mail campaigns, cold calling, and door-knocking in neighborhoods you're targeting can be highly effective ways to connect with motivated sellers. These methods allow you to make personal connections with property owners and offer them a solution to their problem. Be sure to craft your message in a way that speaks to their urgency, whether they’re facing foreclosure, divorce, or other financial issues.
By focusing on these strategies, you can start building a pipeline of motivated sellers and get closer to securing your first wholesale deal.
Stay tuned for part two, where we’ll dive into how to evaluate and assess whether a deal is worth pursuing.
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Overcoming the Biggest Hurdle: Finding Your First Deal (pt. 1)
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