Dallas-Fort Worth Real Estate Investor Club

Off Market Properties DFW

  • 08 Feb 2021 2:16 PM
    Message # 10070085

    Hi All,

    I'm looking to see if anyone has any tips on finding off market homes in the area.  I've worked with NWA/WeBuyHomes/NetWorth etc. but I am looking for somewhere that offers a due diligence period instead of these one time showings and offers need to be in an hour later.  


    Appreciate the help everyone.

  • 09 Feb 2021 8:33 AM
    Reply # 10071950 on 10070085

    Colin, I think this will be pretty difficult to find. I mean, I might encourage you to work with some different wholesalers but I can't think of any wholesaler that provides a "due diligence" period.  Usually, the first time you walk the property is the only time you will get to estimate your bid, rehab, ARV, etc.  Keep in mind, that if you aren't making the offer - I am.  So not only is it the wholesaler....but it's also your competition.  To make offers on properties like this you will absolutely need to have the ability to calculate your ARV, rehab costs, know your financing terms, hold period, etc.  The good thing is you can gain that knowledge here from Cindy and Robin and from other investors as well.  That might be the right path to recommend first - how can I get the knowledge to NOT need a "due diligence" period?  Just a thought.

  • 16 Feb 2021 2:36 AM
    Reply # 10103017 on 10070085
    Colin Rome wrote:

    Hi All,

    I'm looking to see if anyone has any tips on finding off market homes in the area.  I've worked with NWA/WeBuyHomes/NetWorth etc. but I am looking for somewhere that offers a due diligence period instead of these one time showings and offers need to be in an hour later.  


    Appreciate the help everyone.



    Hi Colin,

    One other strategy is that you find houses that you set the terms of the negotiation with the owner, but you have to dig up your leads.

    I am assuming that you might only be looking for off-market leads via Wholesalers, but there are other ways to find off-market leads.  Many lists like pre-foreclosure, probate, and tax-liens may provide you with opportunities to help people in a situation.

    There is a combination of ways you can find them.  For example, counties in Texas publically make available pre-foreclosure and foreclosure properties, but the process is hard to systemize into a CRM system vs using a paid service. You'll end up also having to skip trace the leads like these so the speed may come down to the service you use.

    Companies like Real Estate IQ (https://realestateiq.co/premium-deal-finding-suite/ Promo Code: jasonPremiumOffMarket1Dollar) can provide these lists formatted in a spreadsheet, already skip traced (owner names, phone numbers, and emails), and sent to your email.  It takes out some of the labor, but there is a little bit more of a fee than if you went to the county websites.  

    Right now you can try it out and figure out if you like it.  I would encourage you take advantage of the promo to see if it works for your system.  This promo code will get you a two week trial for 1$ and a 40% discount after (it expires at the end of Feb). 

    I will say that these lists are hit very, very hard.  It can be frustrating because everyone is targeting them, so get that dialing finger ready, generate mailers, or door knock (be sure to respect the laws).  Overall from the investors I've spoken to have had better luck knocking on doors.


    Jason

    Last modified: 16 Feb 2021 2:49 AM | Jason Madden
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