Where did we find these 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
Why are these houses so cheap?
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
How do I determine if this is a good
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.
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
- Closing & Holding Costs
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.
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.
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.
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