How To Wholesale Single Family Houses for Profit East Saint Louis IL

You, too, can start living the life of financial freedom by starting your real estate investing career the quick and easy way: Wholesaling single family houses. It was said to me many years ago by one of my many real estate investing coaches that, "Any brain-dead moron can wholesale single family houses and make a boatload of money doing it." You know what? He was exactly right. I'll admit it; I was the brain-dead moron that he was referring to, and yes, I make a boatload of money doing it. Here's how:

1. Find the deal. You're looking for vacant, UGLY houses...the uglier, the better. You can drive around looking for these houses or you can pay a kid $5 per house for every picture he brings you with an address. Make sure you stay out of the war zones! Also, it's much easier to prospect an area within a 30-mile radius of your home.
2. Find the owner. Once you find the vacant, ugly house, you need to find out who owns it. Obviously, they're not living there now so how do you find them? There are several ways you can use. You can hire a skip tracer who will find the owner for a fee. You can ask the neighbors. Or my personal favorite; you can check the tax records. Go to your local county tax assessor and they will let you use their computer to search by address and find the seller.
3. Contact the owner. Now that you've found the owner, you can contact him in one of two ways. First, you can call him. I personally don't like this method; it's too much like "cold calling" and no one likes to be called at home. I prefer to send a letter. You already have his personal residence from the tax roll, so mail him a simple handwritten letter telling him that you want to buy his house and asking him to call you. Don't use a window envelope (it looks too much like a bill!). Just a standard envelope (handwritten) so it looks like a letter from Grandma (it guarantees that he'll open it)....

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Author: Toby Lynn