In an effort to be totally transparent with our wholesaling business in Houston, I am going to share a case study on one of the deals we’ve closed using eviction lists in Houston. The article below will break down the deal, how we got it and what it took to turn a $.37 postcard and stamp into a $13,000 deal.

 

Before I dive into the deal, I need to provide some back story. My wife and I run a real estate investment firm, Hurry House Buyers. We are based out of Scottsdale, Ariz., but we mostly virtual wholesale properties in Houston and Ft. Worth, Texas.

Why Texas? That’s a story for another time.

For the past two + years, we have been using eviction data as our only source for motivated sellers in Houston and our direct mail marketing campaigns. In 2016 alone, we made $36,000 doing this part time. If you’d like, you can read all about it in the white paper I wrote.

Case Study — Pasadena, Texas Townhome

As 2017 rolled in, we were getting out standard amount of motivated seller leads coming in for Houston, but one day in late January, we had a really solid lead. As I work full time but still handle the acquisition part of our business, it’s my responsibility to take phone calls. This particular call came in during the day. Since I’m at work, I let it go to voicemail. But 30 minutes later, the seller was calling again!  ***Hint Hint*** If someone calls you twice in less than an hour — TAKE THE CALL!!!

The seller was a woman who lived three hours away (great sign), she was going through a nasty eviction (great sign), her mother owned the property and she had no interest in owning rental property (great sign) and she was in need of money to buy a home for herself (check and mate).

This seller hit all the indicators for true motivation and then some. We briefly discussed price, repairs and I told her I would call her later. I sent an email to my boots on the ground to run the numbers so I would have some information when I called her back later that day.

As usual, the owner’s asking price was high, but I knew we were on the verge of a great deal. She was coming into town next week, so my boots on the ground met her, contract in hand, ready to view and get it signed if we could come to an agreement.

                                                        we used eviction lists to make 13k on this house

The townhome is in a solid B neighborhood, with rents between $1,400 – $1,500 a month. The interior wasn’t in bad condition. Just needed some paint, carpet and the bathrooms redone. An easy $12,000 – $20,000 and you’d escape with a great rental. My partner in Houston broke down our process (we don’t lie to our sellers — we explain exactly what we do) and what we could pay. As it turns out, she had already spoken to another wholesaler in town and they REALLY low-balled her, so we knew what was off limits and where we could be on the deal. She was happy with our offer and more than happy to get rid of this property. She signed and we went to escrow.

Within hours of the deal going out to our list, we had several buyers ready with deposit money in hand. When a deal’s a deal, people will come flocking to buy.

The Numbers

ARV: $125,000 – $127,000
Contract with Seller: $61,000
Sold to buyer for: $74,000

PROFIT MADE: $13,000

 

In total, we spend a couple hours on this deal and made $13,000. From this ONE motivated seller in Houston, we were able to pay for our entire year’s worth of marketing. If you are looking to grow your wholesaling business in Houston, Texas Eviction Lists is here to help. We offer virtual and physical wholesalers with weekly lists of landlords going through an eviction right in Harris County, Texas.

These motivated seller leads in Houston are tired landlords who are willing to sell their headache and just move on. Time and time again, we have found these leads continue to be a great source of income for our business. Now they can be a great source of leads for your wholesaling business in Houston.

 

If you are looking to add highly motivated sellers to your direct mail marketing, Texas Eviction Lists is here to help. Click the link below to get to our pricing page and sign up today. Spots are limited and once we’re full, we will go on a waiting list.