Need Advice From Pro

[pjm24]

Hello to all,

I have a couple of deals cooking, but need advice on one of them. Ok, I have this single family home in a suburb of Chicago. Aurora, IL the home is dated and I know that it has potential. The seller contacted me and informed me that it went through the probate courts and ready for sale. It's free and clear and I am looking to wholesale it off to an investor. The problem is that most of my investors buy in the city and not 30 miles out from the city. The area is nice and largerly a latin community, how would you approach this situation? The seller attorney sent over the contract today, how should I go about this one?

[Nick Brian]

Hi pjm. You can use any or all of the following things:

1.Flyer with newspaper,
2.Poster,
3.Leaflets,
4.Craiglist,
5.Facebook, Twitter.
6.Local Newspaper ad.

I think this will work fine. Thanks.

[StreetCopMillionaire]

I agree with Nick.  Also, don't discount the investors you know...and if they're not interested in that area, there's always a possibility they know someone that invests in that area.  Networking in this business is a phenomenal thing!

Jason

[MichaelQuarles]

Why are you wholesaling it....

Re Read your post.... There a huge golden nugget within it that will allow you to eat your cake and have it too....

[furnishedowner]

pjm,
Do you see the golden nugget?  I'll bet it's seller financing!  Why don't YOU keep the property?

If it's in a Latin community and you want to sell it, then get a translator (check at local title insurance and escrow companies) and put out an ad in Spanish and English.  Keep it simple.  Put up picture flyers in your local bodegas and laundromats and hand them out at flea markets.  You can sell that puppy if it's good.  Don't forget the first time buyer money, good until Nov. 30.  Now hurry!

Furnishedowner

[andrew99tw]

local ad will be more effective in this case. (compared to Twitter)

[Alan Brymer]

If your goal is to wholesale it, go ahead and try to wholesale it.  You may not know many investor buyers there, but I'm sure they exist and you can find them by announcing the deal once it's under contract.

Unless, of course, there's actually something wrong with the area that would make even local invstors not want to buy it (not just investors in the City that don't want to go that far from the city regardless).

I wouldn't buy and hold it if it's in a predominantly Spanish-speaking area.  There's enough deals out there closer to you and without the added hassle of using an interpreter.

[4R Management]

One suggestion that was left out was to go to Local Investment clubs to find investors that focus on Aurora.

I know a few myself, both clubs and investors. Check the link in my sig block actually!

I have done a ton of deals because of the connections I have made at the area REI Clubs.

Here is a list of Clubs right here on this site, just look in the menu on the left side of the site.