How To Find Wholesale Houses
Finding wholesale houses or properties to purchase when trying to flip houses is never an easy task, especially if you are fairly early on in your house flipping journey. When starting out, you might wonder where can I even find wholesale houses to buy? Well, I’m going to give you a few useful tips on how you can find wholesale houses to purchase.
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Driving Around – Driving for Dollars
Yep, the term ‘driving for dollars’ pretty much says it all. One of the best ways to find your first real estate deals is by narrowing down a specific area, go onto Google maps, and simply just drive around looking for houses. Alternatively, you can use a really useful app called ‘Real Estate Deal Machine’ which allows you to drive around, and it will show you every property in a specific area, allowing you to view lots of different houses in a specific area and pick out the properties you think might be worthwhile investments.
You can drive around and identify any properties you have any interest in. The app will let you take a picture of the house and will send all the information from the assessor’s office and will send the owner of the house a postcard with the photo of the house and all the information on it, letting them know that I want to purchase their house.
This is a great way to not only quickly find out if you can purchase a property, but to find a large number of properties all at once and attempt to buy them. If you plan on scaling your house flipping business, you can have multiple people driving around for you carrying out these actions, making it very easy to obtain wholesale houses.
Virtual wholesaling is the future of wholesale property purchasing. There are a number of different ways in which you can virtually buy properties well below market value. One of these is virtual house auctions, where houses are auctioned off as they sit. If you know what to look for, this can be easy pickings for finding suitable properties to buy, renovate and flip for a profit.
Virtual wholesaling allows you access to properties that are perhaps well out of your location, for example if you lived in Las Vegas, and wanted to purchase a cheap house in Texas, you could do so through virtual wholesaling. This means you can buy properties in cheaper areas that are up and coming, invest some capital into refurbishments and sell them for a profit whenever the housing market starts to rise in that particular area.
Find Abandoned Houses
Another excellent method of finding wholesale houses is to try and find any abandoned houses in a certain area. This works very well if there happens to be a rundown area and you’re in the market for buying more than one property. Abandoned properties are usually a cheap investment, and if you see potential in the area then you can make your money back tenfold.
If you want to find out more about how to make money buying and flipping houses, why not check out my book? I’ll tell you step by step how I made all my money using this method.
Find Properties That Are Behind on Taxes
You can find lots of wholesale houses by finding out if properties or the people who own them are behind on their taxes, you can then offer to buy them out of their property for the price of how much they are behind on their taxes.
You then have the opportunity to purchase a number of properties for a very reasonable price, allowing you to renovate and then flip them for more money.
If you want to find out more information on how I’m successful in making money buying and flipping wholesale houses, you can check out my YouTube channel, where I take you through lots of useful tips and tricks when buying your first real estate investment, as well as how to make money in real estate. I offer lots of useful information on how to get started and how to be successful flipping houses.