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Looking to invest in real estate by buying wholesale real estate deals in Cleveland or any other market? If so, you are going to need to establish a plan to follow if you want to succeed. The first thing you will need to determine is where to find the off market deals. This can be a bit of a challenge for the new investor with limited knowledge, experience and/or connections. An investor can buy houses below market value, but they have to know how and where to find good off market properties. An investor can either find off market deals themselves or through wholesalers. We will explore both techniques in this article.
Some sources to use to find properties follow:
Unfortunately, there are a lot of individuals who have to sell their homes . It may be because there is a tax lien placed against it. The government may have already seized the property and is taking control of the sale. Those who are getting into wholesale real estate deals need to be on the lookout for these properties. Sometimes the house owners will advertise their homes for sale before they lose it. They may indicate in their advertisement that they want to sell quick.
The time and effort level of finding these properties is high. The cost can also be high depending on what kind of marketing you are doing. You have to determine the properties, their owners and then skip trace their contact information so you can contact them in some way.
It is also time consuming to call or knock on the door of every seller that has an ad in the local paper, Craigslist or other online/offline classifieds. But, it is well worth the effort. After a while those looking for where to buy houses to flip will become more educated and experienced. They will be able to tell from an ad if this is a wholesale real estate deal. Those that are desperate to sell their houses will write their ads differently. It means those looking for wholesale real estate deals need to be prepared to spend some time going through the local papers and reaching out to the sellers to vet the deals. You need to check out each ad carefully.
Also, be aware that in Cleveland, the majority of the ads on Craigslist, Facebook, etc. are posted by wholesalers, even if they are written to sound like they are the owner. Terms like “motivated seller” are used frequently in ads by wholesalers as they know that cash buyers type such terms into the search bar.
It is important for those who are looking for wholesale real estate deals to network, network, network. That means getting out of your chair, going to events, making contact and building connections. The ones you want to connect with are those who may have some inside knowledge about individuals who may be ready to sell their house at wholesale value. Some resources may be accountants, bankers, other real estate agents, and other investors.
When doing wholesale real estate deals one must realize this is wholesale buying. Therefore the purchase prices have to reflect off market, wholesale deals. There are a lot of people who call themselves real estate wholesalers, but they are not really wholesaling. It means you as an investor and cash buyer has to seek out honest and educated house wholesalers. Once these contacts are made they are established contacts that can be worked with multiple times in the future if the experience is good.
First, if you as an investor wants to buy wholesale properties from wholesalers means being knowledgeable in what you are doing and what to look for. if not, you won’t be able to determine if you are buying wholesale real estate deals or not. Just because a house is priced under market value doesn’t mean it is a wholesale deal. Even worse, buying a house close to retail with work equal to that of a off market deal is a bad situation to your returns.
Also note that although it is worth spending some time trying to negotiate, wholesale sellers usually have a tight time frame. This can be used to your advantage if you as a buyer can close quickly without hassles.
A professional real estate wholesaler is not in this business to make a fortune off the sale of one house. They build their profits by wholesaling properties in quantity. Meaning that they need to have many deals going on at one time. We are professionals in the wholesaling business. As such we are going to deal with wholesale real estate deals in a professional manner.
We enjoy working with those who wish to participate in buying wholesale real estate deals. You will be able to see the validity of our business. We do aggressive advertising to find wholesale houses. We also are active in our advertising to find and connect with clients like yourself that are looking to find solid wholesale real estate deals in greater Cleveland. We are all about being upfront, honest and professional. Plus, we are experienced so dealing with us is going to be a simple and easy process.
At Sesa Properties, LLP, we value networking and working with other investors in the Cleveland area. We’ve been in the real estate investing business for years. We spend a large amount of time and money looking for and vetting out the best properties for house flippers and buy and hold investors. Not only are our properties below market value, but they’re all high quality and in s for house flippers and other investors. We also specialize in closing fast to make sure your inventory never runs dry.
Have a question about our process? Want to join our buyers list or see our current available off market properties? Give us a call today at 216-750-3132, or visit our website today! We’d love to talk to you about our properties.