Why Wait?
If you have read my goals, you know my original plan was to get a second job in order to build some cash reserves. Unfortunately or fortunately, depending on how you want to look at it, I have not received any return calls what so ever on that front. Thinking positively, I have decided not to wait any longer. It is now time to begin my wholesaling adventures.
Last week I had a realtor print off a list of properties which have sold in my farm area for the past year. From that I have compiled a list of investors that work in my area, who are currently purchasing, their purchase prices, if they bought from a wholesaler or realtor and how many properties they already own in this zip code. This gave me a good base to start from, but I needed more information; phone numbers and rent ranges for example. After a few hours of driving I had a list of about 10 rentals, 15 vacants and a few fsbo properties. Once I cross referenced the rental address with my current list of investors, I now had phone numbers for a few of them. I will be keeping an eye on and finding out what I can on the vacants. One of the fsbo’s was empty, so I may be following up on that one sooner than the rest.
Not much else going on at the moment. Went to our REI meeting last night, meet another new wholesaler and spoke with one of the more established wholesalers who I have spoken with before.
I want to make sure I have money to close deals if I am unable to find a buyer in time, my buyer backs out last minute or him/her have funding issues themselves and can not close on time. So over the next week I will be speaking with local hard money lenders to see what can be worked out.
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