There are several ways to buy houses: Houston's foreclosure at an auction in the city center, preliminary foreclosures in Houston by mailing a list of those who intend to go to the auction, or even from the main site for realtors (HAR.com).
But what are the main investors in Houston to find bargain prices? Well, they use several different methods, that's for sure. But one method, in particular, was regularly used by EVERY supreme investor to whom I addressed, including myself.
So what is this method? He buys real estate from OTHER Houston real estate investors with huge discounts.
But, first, some lexicon for you: when one investor sells to another investor at a discount, it is called "Wholesale". The person who buys (you) is called “Rehabber” if they plan to fix it and resell it or “Landlord” if they plan to fix it and rent it.
Most new real estate investors do not understand how powerful this source of transactions can be (other investors). Hell, most do not understand that wholesale trade continues! “Why would another real estate investor in Houston sell me a house for a cheap price?” They say.
Well, the reason is that the selling investor wanted to make money fast, selling "as is" quickly, without any problems. The seller does not want to deal with its fixation, sale and sale to its retail buyer.
This is what you are entering: you buy a property, fix it, resell it and make a big profit.
In May, I outstripped several facilities, and all buyers (investors) made good money by installing and reselling houses. And I was happy to get some quick $$.
But my best profit came when I bought from a wholesaler and fixed and sold the property. I still do combo wholesale, rehabbing and renting. I sell in bulk when I need a small amount of fast cash. And I will rehabilitate when I wait 3-5 months to earn big money.
Ok, now you know the basics! So, the next logical question is: “Where do I find these wholesale deals?” Fortunately for you, I became the master for rounding off these wholesale deals, so I can tell you.
Just do these four things in sequence:
1. Go to most of the meetings of the RICH Club (Realty Investment Club of Houston) (richclub.org) so you can get to know some of the active investors in Houston. Find out which deals they wholesale. In the club RICH 20 meetings per month.
2. Name the advertisement in the newspaper (Houston Chronicle, Greensheet, Thrifty Nickele, etc.), which states: "We buy houses". These ads are always posted by investors. Ask them if wholesale objects are sold and what properties they sell.
3. Search online for deals: you can use Craig List (craigslist.org), Rich Club website (richclub.org), Linda Purcell group (finance.groups.yahoo) .com / group / lindas_realty_investments_group), Joshua Berg & list houstonrealty.us) and more.
4. Follow everyone who does wholesale on a weekly basis through phone calls and emails.
About it! But actually it takes a long time. I need to know. I spent most of my week doing the above. But it's worth it!
Happy (and profitable) investment,
