Even in a competitive housing market, wholesale deals have proven to be one of the most profitable options for up-and-coming real estate investors. Essentially, wholesaling real estate involves getting a property under contract and selling it to a buyer for a profit. Investors are drawn to this method of real estate investing because it doesn’t require a large amount of capital to get started.
Your most significant challenge in wholesaling will be finding the right properties. To experience the full benefits of this real estate hustle, you’ll need to generate a sufficient number of leads to keep facilitating sales. That means exercising every resource available to find worthwhile deals.
If you’re ready to find more wholesale opportunities in a busy marketplace, use the tools below to help you generate more revenue than ever before.
Foreclosure Databases
Since you’re interested in wholesaling properties, houses in foreclosure are a lucrative investment opportunity you can’t afford to overlook. Simply put, foreclosure occurs when homeowners cannot meet their mortgage obligations. These homeowners are at risk of having their homes taken by the bank that gave them the loan. Although the guidelines vary depending on the state, the foreclosure process generally begins 90 days after the first missed payment. These homes then become good prospects for resale.
There are several resources wholesaling businesses can use to find homes in foreclosure. Often, large banks have an inventory of foreclosed properties listed on their websites. Government agencies such as Fannie Mae and the Federal Housing Administration also list foreclosed homes. Finally, you can find foreclosure listings at your county’s office by searching for a Notice of Default or Notice of Sale.
Connect with the Right Social Media Accounts
As a wholesaler, one modern source to find inexpensive properties is social media. Social media usage is steadily increasing across all industries, so it’s a great time to get started if you haven’t already. Whether you’re using Instagram, Youtube, or TikTok, start by creating a social media page that aligns with your business to increase brand awareness and attract the right leads. It is also helpful to follow real estate pages that post available properties in your area.
The following tips will help you use social media effectively:
- Create a social media strategy that aligns with your goals – what kind of content do you want to share or create?
- Connect with your existing partners through regular communication and educational posts.
- Keep users updated about current events with your wholesaling business.
Because social media has such a vast reach, there are many opportunities to form beneficial partnerships. Furthermore, you will have the chance to uncover wholesale deals that you may not see on foreclosure databases or housing forums.
Connect with People on Housing Forums
There are more online resources to find wholesaling deals than foreclosure databases. Sometimes, you need to think outside the box to find the most profitable deals possible in a competitive housing market. Remember, turning a profit with wholesaling is all about forming a human connection with buyers and sellers. However, this requires a wide sphere of influence, and driving for dollars can only get you so far.
A great way to get in touch with people in your industry is through online housing forums. You can use these resources to learn tips and tricks from like-minded investors and uncover the best deals in your area. You may also benefit from browsing forums where homeowners are discussing foreclosure, financial difficulties, or other reasons motivating them to sell quickly. Connections made here can be a win-win, as you can offer these users the cash flow they need while securing properties for wholesaling.
If you’re struggling to find lucrative deals, consider using websites such as BiggerPockets, ConnectedInvestors, and even Reddit.
Work with a Team of Professional Cold Callers
Ultimately, one of the best ways to find wholesaling deals is through cold calling, especially in a competitive housing market. This tried-and-true lead generation tactic gives cold callers the opportunity to form a personal connection with potential leads in a way that other tactics can’t match. Cold calling is an effective tool that enables you to find potential sellers whose property may not appear in databases or online, giving you a leg up on other wholesalers.
However, cold calling is not for the faint of heart. It requires tenacity, skill, and expertise to master the art of cold calling. Luckily, you don’t need to undertake this endeavor on your own. If you’re ready to get in touch with more leads, you can partner with a team of professional cold callers. At Call Motivated Sellers, we’ll work with you to create a script that encompasses the essence of your business and inspires qualified leads to choose your company over competitors. We’ll handle the heavy lifting that comes with vetting qualified leads so that you can direct your efforts toward closing more deals.
Find the Best Wholesale Deals with Call Motivated Sellers
Wholesaling may be attractive for its low barrier to entry, but it requires consistent, focused effort to reap the full benefits in a competitive housing market. The most challenging issue that wholesalers face is generating a steady stream of lucrative deals. If this is something you’re struggling with, expert cold callers can help you find eager buyers and sellers.
To start building your network, acquiring properties for your portfolio, and turning a profit, enlist the assistance of Call Motivated Sellers. Our team of professional cold callers saves you time and effort by finding potential deals for your team. By informing interested buyers and sellers about the benefits of your wholesaling services, we’ll use our expertise to warm up leads, find the best prospects, and set your sales team up for success. With cold callers on your side, you can leave the hard work of lead generation to us and focus on other aspects of your business.
If you’re ready to leverage the power of cold calling for wholesaling, Call Motivated Sellers is here to help. To learn more about the services we offer, just contact our team today!