Wholesale buying is a technique where you buy houses at 40-60%
off it’s current value. No one wants these houses because
they are cosmetically distressed. They are typically vacant, abandoned
and sometimes even boarded up. Banks don’t want to finance
them this makes for a big opportunity. A great way to get in touch
with the owners is a postcard. A good postcard can read:
Dear Property Owner:
My name is Connie Walsh and I am a local real estate investor.
My company buys properties in any area or condition.
I noticed your vacant property at __________________ ________________
If you are interested in selling, please call me.
Connie Walsh
555-555-5555
When you have a person that is willing to sell to you at 40-60%
off the price, then what? You find a hard money lender. They will
lend you money for a short period of time (until you make the
house habitable and can sell it) at a higher interest rate. Don’t
be alarmed at the higher interest rate…it’s all a
part of doing business.
Real-Estate-Haven
