DFWinvestors.net is the leading discount, wholesale and foreclosure home marketplace in Dallas and Fort Worth
 
 
How to Profit from the
Wholesale Marketplace
 
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How to Profit from the...
 
 Motivated Sellers
 Appraisal Search
 
Guest Articles
 Getting Started in Real Estate Investing
 Anatomy of a Wholesale Flip
 What is a Fixer Upper?
 Breeding Bird Dogs
 Negotiate Deals Like a Pro
 Prehabbing For Big Cash
 Understand Appreciation
 Getting Wholesale Buyers in the Home
 Money in Mold
 Investing in Hot Markets
 The Gut Rehab
 Quality vs. Quantity
 Hard Money Lenders - 1
 Hard Money Lenders - 2
 Hard Money Lenders - 3
 Controlling Contractors
 Overcoming No Money Jitters
 9 Tips for New Investors
 Finding Deals in a Hot Market
  
 

Where did we find these properties?
The properties listed in our wholesale marketplace were submitted by wholesalers all around in the Dallas/Fort Worth area. Generally, the wholesaler has a contract to purchase the property at a set price and is offering to sell it for a few thousand dollars profit. Their "asking price" includes the price of the property as well as their small profit.

Why are these houses so cheap?
Many times, the homeowners of these properties are facing foreclosure, job loss, divorce, illness or simply cannot afford to make the payments. In many cases, the properties are in need of repair and the homeowner cannot or will not repair the property. The homeowners are willing to take less than retail price for the property in return for a quick and easy closing. For future reference, we call these homeowners "motivated sellers."

How do I determine if this is a good deal?
Unless you are already familiar with the area, we suggest that you drive by property before contacting the wholesaler. If it's vacant then the wholesaler may have posted the lockbox code or other entry method so you can enter the house and look around.

Generate recent sales comparisons on the property to determine the true value after repairs (ARV) as well as the average days on market it will require to sell the property at that price. You'll need a real estate agent to help with comps or use one our online comp generation services.

Next, contact the wholesaler and let them know you'd like to get your own estimates for the repairs. Once you have the repair estimates, calculate your potential profit with the following formula.

After repair value (ARV)
- Asking Price
- Repairs
- Closing & Holding Costs
= Potential Profit

If you don't have cash and don't plan to keep the property for an extended period then you'll likely need a hard-money loan. These asset-based lenders will lend you the money to buy the property and fix it up, assuming it meets their qualifications. Contact the hard-money lenders from our vendors and contractors section to determine if this property will fit their criteria.

Keep in mind that the best deals sell within a couple of days. Therefore, sign up for our daily email updates, visit lots of properties, contact hard money lenders and get comfortable with a quick purchase process.

How do I negotiate the purchase?
You'll negotiate the purchase of the property directly with the wholesaler. Generally, no real estate agents are utilized during a wholesale transaction. You should contact the wholesaler and let them know you are interested in the property. Many times the "asking price" on our site is negotiable so discuss your findings on the ARV, repair costs, etc… If the numbers don't work then negotiate a lower price. If the wholesaler cannot move the property at their asking price then they may need to go back to the seller and negotiate a lower price with the seller.

Once the price and terms are negotiated then the wholesaler will assign the contract over to you and you'll take it to the title company to schedule a title search and closing date.

Can I post my wholesale properties at dfwinvestors.net?
Yes! Anyone can post a wholesale deal at dfwinvestors.net. Simply click the "post" link at the top right of the wholesale marketplace and enter your property information. Please keep the ARVs and repair costs realistic. The property will automatically be sent to thousands of investors interested in that area of DFW.

I have no money, how do I start?
In my opinion, you do need some money to be a successful real estate investor. Your ability to move quickly on deals with cash or hard money (which requires closing costs) can be a great advantage. That said, there are some areas where you can start with very little investment. First, become an active premium member of dfwinvestors.net or similar site. Visit wholesale properties, learn how to estimating costs for repairs, meet other investors, learn how to find your own motivated sellers.

Why do we charge to view these details?
Fair question. We do not make anything on the sale or posting of these properties. Our goal is to build the leading online community for DFW investors. Unfortunately, this doesn't come cheap. We've invested thousands of hours of development on the site and we spend several thousand each month in marketing to investors and wholesalers. The low subscription price we charge for access helps us recoup this investment. We believe this is a fair price for such valuable information.

 
 
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