This post is the second of several case studies we will do here at Texas Eviction Lists, showcasing some deals we closed with eviction leads in Texas. This story on how we made $10,000 with eviction leads comes from Ft. Worth, Texas. 

 

In 2016, my wife/business partner participated in two markets for our wholesaling business: Ft. Worth and Houston, Texas. While both markets are red hot for retail sales, we were still able to find great deals through eviction lists. We believe this holds true because no matter how good the market is, there are always deals to be had. There are motivated sellers everywhere, you just need the right data to find them. 

Real estate can be a great way to earn passive income, save for retirement, or in the case of the owner of this property, both. The gentleman bought a HUD property, fixed it up, get a tenant in place and naturally, the cash flow should happen.

Unfortunately, when you don’t have solid systems and processes in place, and you land a “professional tenant”, it’s going to equal bad news. For those of you unfamiliar with the term, a professional tenant is a person/persons who move into a home, don’t pay and know how to work the system to maximize their time in a rented home without paying. They will skirt the law in almost every single fashion possible so they can live for free.

For this particular client, he landed a bad one. Not only did they DESTROY the inside, they even changed the locks on all the doors. When he called us, you could hear the sadness in his voice. He was tired of this property. As it turns out, in the three plus years he owned it, he had went through two bad tenants, so he was ready to say no more to the real estate investing game.

After the eviction was executed and the tenants were physically removed from the property, we got photos, put it under contract that day and sold the contract the next day to another investment group buying in the area.

We made $10,000, splitting it evenly with our partner based in Fort Worth. 

The owner called me after the transaction to personally thank us for helping him out of the tough situation. Not all transactions will go smoothly, but this one in particular was a great success, not only for him, but for everyone involved. Well, maybe not the tenants, but then again, they were not holding up to their end of the bargain.

If you’re a wholesaler looking to find motivated sellers in Houston, Texas, we at Texas Eviction Lists are here to help. We provide weekly lists of landlords who have filed an eviction. These are fresh leads, all you need to do is mail. Start your weekly or monthly plan today!

This was part two of a series we’re writing about our experience working with eviction leads in Ft. Worth, Texas and Houston, Texas. Here’s another story about a deal we closed this year, which made us $13,000!