Quick question on wholesaling / equity in home

Quick question on wholesaling / equity in home

I just want to make sure that I'm understanding a couple of items correctly..

#1 - I'm interested in primarily doing wholesaling/assignments of contracts on properties. No buy and holds, no rehabs, and no lease options at the current time..

#2 - As such, and as I understand it, I should then really ONLY be trying to find motivated sellers with a substantial amt of equity in their properties? So that they could sell at a significant discount, and still not have to bring anything to the closing table to pay off their loan.


The reason that I ask is b/c that detail makes a BIG change in my marketing since I'm currently just following the 30 day blueprint and reaching out to expired listings, fsbo's, and looking for vacant/as is type properties on the MLS.. Which may or may not have equity... You just don't know...

As such, if I'm trying to locate PROPERTIES to wholesale, I'd probably be best served trying to direct mail to a list of absentee owners that have owned the house maybe 10 or more years (for example) so we at least know they probably have paid down the mortgage a fair amt.. Correct?

Just looking for confirmation from the group to make sure that I'm not missing something and being shortsighted..

Seems like a person basically MUST have 30%+ equity in a property to most likely open to a more aggresive offer, since if they had a larger mortgage balance, they might have to bring a significant amount to the closing table..

Am I thinking about this correctly?



Want your "1-800 FREE Recorded Message" marketing system setup with 5 professionally-written and recorded messages for attracting Investors, Buyers, Sellers, and more?

If you're doing the 30 Day

If you're doing the 30 Day Quick Cash Formula then click on the link below. Tons of info is there to help you out.

Syndicate content