Working with a property wholesaler in Milwaukee can be an excellent way to find a home or add a property to your growing portfolio. In our latest blog post we dive deep to help you learn more about the benefits, what to watch out for, and how it works!
Are you looking to find great deals on investment properties in the Milwaukee area? Working with Sparks Property Investors LLC can help you find some of the best area properties at unheard of prices. Below, we’ll explain how wholesaling works and how to work with a property wholesaler in Milwaukee!
Study The Local Market
Before working with a wholesaler in Milwaukee, you’ll want to have a good idea of what is gone in your local market. Take a look at current trends, recent sales, and who’s buying what types of properties in that local market. You’ll need to have some of this knowledge to go on so you are getting the best possible deal! Most of this information is public and can be obtained from sites that share MLS data such as Zillow and Trulia. You can also find the majority of this information through your local property appraiser’s website. Before you buy, spend some time learning about what is happening in the local Milwaukee real estate market.
Find The Right Wholesaler
Not all wholesalers are the same. We can’t stress this enough. Some wholesalers are marketing the same property as many other wholesalers, some are inexperienced, and some will rope you into paying a non-refundable deposit, only to cancel the sale and walk away with your cash. As such, wholesalers often get a bad rap. However, when you find the right wholesaler, it can be like finding gold. It’s important to find someone who is experienced, who understands your goals, and who can provide the references to back up their claims.
Doing Your Due Diligence Is Key
At the end of the day, the due-diligence lies with you. You’ll want to ensure the title isn’t cloudy and that there won’t be any other claims to the property. To do so, have an experienced firm run your title search. You’ll want to be able to run some comps for the house, both before and after repairs have been made. Try to get at least three solid comps for each scenario. You can estimate repair costs yourself or hire a property inspector to tell you what is wrong. From there, you can obtain estimates from local contractors to perform the work. Keep in mind, that repairs can often be higher than originally quoted, so be sure to plan ahead for this when determining your repair budget.
Ability To Close Quickly
When you find the perfect wholesale deal in Milwaukee, you’ll want to get the ball rolling as quickly as possible. While you don’t want to cut corners, you should try to complete your due-diligence as quickly as possible. There are likely several other investment buyers looking at the property and you don’t want to find yourself missing out on a great deal. That said, if you miss out on one, don’t get too discouraged. Set your sights on the next deal… it’s out there!
Why Work With A Property Wholesaler In Milwaukee?
You might think you can just go out and find the deals yourself and you would be right! However, a lot goes into marketing and sourcing the properties we offer. We spend an enormous amount of time in negotiations with property owners, not always getting the deal. However, when we do, it can lead to a simple, fast, and convenient way for you to buy a house in Milwaukee at 70% of the market value. When you work with Sparks Property Investors LLC, you will be able to save both time and money because we buy houses in Milwaukee and all surrounding cities!
It is important to understand that we buy houses as is in Milwaukee and focus on houses that need some TLC. Sometimes theses houses are have families that are going through divorce and we strive to make these families not feel pressured during this stressful process. If you are wondering about home buyer reviews or if companies that buy houses are legit. We can help you through the our process of how we buy houses… contact us today!