Updated: Mar 12, 2019
From personal experience and lots of reading, I have found that the process from foreclosure to re-sell can take awhile after a home is foreclosed on by the bank or mortgage company. These days banks can take months or even a year after foreclosure to get their paperwork together, do evictions, clean up and hire real estate brokers to handle their properties. But the time spent doing clean up and evictions is not a problem for the seasoned Wholesaler/Investor - it is an opportunity to secure buyers so that these properties sell right away as you get them under contract.
I suggest that while a Wholesaler/Investor works to get a property under contract, they also start the process of building a database of buyers. Videos, photos and email lists are several ways to attract your potential buyers. Networking at your local REIA is also a way to build contacts. Email blast to advertise your services or deals to investors is another way to get the word out. Do not undermine social media and the reach it plays in today's market. Whenever you advertise your properties, use photos or better yet, U-tube. This tends to make the buyer serious before
they visit the property. Even for buyers of inexpensive homes, they like to see pictures and it helps the buyer make a personal connection. Investors and the individual buyer now search the internet to find homes that they can get serious about buying. It is very important to give them enough information to make a decision. The more details about the home that you can show the buyer, the easier it is for the buyer to make a more qualified decision about what they are looking for when they visit the property, which can make the buying process faster.
Finally, building a database of buyers is a must have in the Wholesaler's world of marketing. Getting creative before the home sits on the market for a long period is powerful for the Wholesaler/Investor. If you think back 10 years ago in real estate, buyers came to
real estate agents to see what they had listed. Many buyers still do the same thing even though they have access to the internet and the MLS inventory. But, if you have already developed a database of potential buyers, it will help your property sell much faster.