The answer may surprise you: anything and everything! Real estate wholesalers use a variety of methods to find deals, ranging from flipping through public records to scouring the classifieds and leveraging their network of contacts. Not only do they look for properties with potential, but also ones that can generate a great profit in the shortest amount of time. That means aggressive marketing, networking with investors, being active on social media, driving around neighborhoods looking for distressed properties.
Finding Deals on Zillow
One of the most popular ways for wholesale investors to find deals is through online platforms such as Zillow. The platform allows users to search for properties by area, price range, and type. It also provides access to detailed information about each property, making it easier to spot potential investments.
Classifieds Ads
Wholesalers may also find leads from classifieds like Craigslist or newspapers. Many homeowners choose this route when trying to sell their homes quickly and without using a real estate agent. While these leads don’t always result in deals, they are worth exploring if you want to maximize your options.
Networking with Investors
It’s important for real estate wholesalers to network with investors in their area. This can be done through a formal or informal group, such as an investor club or meetup. Networking allows wholesalers to build relationships and share their knowledge of the marketplace. They can also learn from other investors how to identify potential deals and how to successfully structure transactions.
Bandit Sign Marketing
Real estate wholesalers often use “bandit sign” marketing to generate leads. Bandit signs are placed around neighborhoods and on busy streets, typically advertising a property for sale or rent. They usually include a phone number that interested buyers can call to get more information. This method is effective because it captures the attention of potential buyers who may not have thought about buying real estate before seeing the sign.
Driving For Dollars by Driving Neighborhoods
Finally, many wholesalers employ “drive-by” marketing by driving through neighborhoods looking for distressed properties. Wholesalers look for homes with boarded-up windows or neglectful lawncare as indicators of potential deals. Once they identify a home that might be worth pursuing, they’ll contact the owner and set up a meeting.
Mobile Advertising
Wholesale investors are also increasingly turning to mobile advertising as a way to find deals. Mobile ads, such as those on Facebook and Google Ads, allow them to target potential buyers with more precision than traditional methods. These ads can be tailored for specific locations and demographics, ensuring that only the people most likely to be interested in their property see them.
Facebook Groups
wholesalers are also active in Facebook groups. These groups bring together investors, brokers, and other real estate professionals to discuss the market, share leads, and offer advice. Joining one of these groups is a great way to stay up-to-date on the latest trends and opportunities in the marketplace.
Real Estate Investing Clubs
Real estate investing clubs are another great way for real estate wholesalers to network and find new deals. In these clubs, members come together to discuss their strategies and experiences. They also share resources and leads that can help other investors succeed in the market. If you want to access a wide variety of resources, meeting with local investors is an excellent way to do it.
Cold Calling
Real estate wholesalers may also use cold calling to find deals. Cold calling is when a real estate investor contacts potential buyers and attempts to make a deal. This method can be effective, but it requires patience and perseverance as not all homeowners will be interested in what the investor has to offer.
Wholesaling is a competitive business, but with the right tools and strategies in place, it can be a profitable venture for real estate professionals. Finding deals comes down to being proactive and creative, so don’t be afraid to think outside of the box when it comes to sourcing leads! By leveraging these methods you’ll have more opportunities to uncover great deals that will help you maximize your profits. Good luck!
