8% of Wichita Homes are Upside Down

Mortgage data company CoreLogic says 7.9 percent of residential properties in Wichita with a mortgage — or 7,202 of them — had negative equity during the second quarter.

The company says another 4.4 percent, or 4,032 properties, were close to being under water.

Nationally, the firm says 23 percent of residential properties have negative equity. That’s down from 24 percent during the first quarter.

Read more: Eight percent of Wichita homes upside down - Wichita Business Journal

REI Meeting Tomorrow Evening - Wholesaling

Wichita REI Network Group will meet tomorrow night (August 31st) at 7:00 pm. Meetings are held at the Weigand office at 13th & Woodlawn (6530 E. 13th).

Topic: Wholesaling - Building your buyer list and finding the deals

All experienced wholesalers are invited to come join in the discussion. You never know, you may find some bird dogs in the crowd.

For more information, please call me at 644-7475.

If you would like to be added to our monthly meeting reminder email list, please email me your contact information to wwilkinson@weigand.com

Ways to Build Your Wholesale Buyer's List

17 ways to build your wholesale buyers list:

• Call the “For Rent” “lease option” “renovated” ads in the newspaper, craigslist, backpage, kijiji, etc.
• Call the “For Rent” signs that are handwritten that you see hiding behind the bushes:)
• Call the “We buy houses” people.
• Market for another wholesaler by using a Flex Option.
• Have a property under contract!!
• Go to a real estate Auction – see who the cash buyers are.
• Call the section 8 office in your city, and property managers – find out who’s buying.
• Get a deal under contract, make sure your hard money lenders know about it, their buyers need to buy so the lender can make money.
• Your local REIA meetings. Nothing takes the place of talking and shaking hands. .
• Use Social Media!! Linkedin, Twitter, Facebook, BiggerPockets, RealEstateInvestor.Com, REIClub.com.
• Post an ad in Craigslist saying you have properties 30%-50% of retail value. Send them to your site or squeeze page.
• Make a solid contact with a Realtor that will search the MLS for cash buyers within the last 6 months.
• Go to events that are geared towards real estate, hard money, financing.
• Search in Google, Yahoo, Bing, Facebook, Twitter “Sell houses fast”, “We buy houses”. Typically in Google you will get the first page of national wholesalers or lead capture services. Page 2 is where you will start seeing genuine sites that are typically real deal investors.
• Contact you’re power team members such as your title agent, attorney, insurance agent, buyers real estate agents, bird dogs. Just start talking away, and the word can spread quick.
• Become internet savvy. Create a website with a squeeze page on it. Work on making your site SEO friendly. If you use WordPress, there are SEO plugins that are awesome. Just search SEO plugins for WordPress. A couple that I like are SEO smart links, and SEO friendly images.
• You can purchase a list of landlords and absentee owners from Listsource or Realquest. Contact them via direct mail or call them. I have not used this approach but heard it works.
  

Source: MAREI

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