6 Sources for Wholesale Real Estate Deals in 2016
Where are the wholesale real estate deals to be found in 2016?
As the US economy and housing market continues to improve many real estate investors are wondering where they are going to find good deals to buy over the next 12 months. The National Association of Realtors says we are finally returning to a ‘normal’ market after over a decade. According to NAR that includes very few foreclosures and short sales in the marketplace. So where should value seeking real estate investors be searching for new properties to buy?
1. Real Estate Wholesalers
This might seem quirky, especially if you are a wholesaler yourself, but don’t discount this source just yet. As hard money and rehab lenders ease up and offer high LTV loans it’s easier than ever to flip house deals from wholesalers. Many also have invested heavily in dominating local auctions, marketing to motivated sellers, bank distress sales, and have negotiated incredibly low priced deals. Others attract many leads which aren’t in their immediate area and are happy to refer them. This can create a lot of efficiency for investors.
2. Aging, Long Time Owners
Between recent equity appreciation and the new rising interest rate environment this is the ideal time for many aging real estate owners to sell. Those that are already in retirement, and have owned their properties for a long time may not want the hassle of managing any more, and probably have a sizable amount of equity. Those without any heirs of their own may be happy to let properties go at a discount to good people that share their values.
3. Your Landlord
There are a large number of real estate investors who are also still renters. If this includes you then don’t overlook asking your landlord if they are ready to sell. If you don’t and they list it with a Realtor you’ll be kicking yourself.
4. The MLS
Many real estate investors snub their noses at the idea of flipping houses on the MLS. However, a look at what others are accomplishing by doing my change your mind. If you can make $50k in a few days by picking up ripe deals this way, why not?
5. Expired Listings
Even though many properties have been selling incredibly fast, others have been rotting online for so long that Realtors are losing their listings. Sometimes this is because they were too aggressively priced. In other cases it is they were poorly marketed, or the agents just failed miserably at responding to leads. These can be highly motivated sellers eager to meet a real buyer.
6. Inherited Property
It is important to be sensitive in this niche, but many heirs to real estate are eagerly looking for a cash buyer that can move fast and help them liquidate estates. If you haven’t already consider adding this niche to your portfolio in 2016.
Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.
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