You need to get to the listing agent first and make your offers where you can easily prove to the investor that:
If they buy it for X and put Y amount in rehab, then they will be able to sell it for Z in less than 90 days on the market!
Take this property in Tampa (see spreadsheet)
Based on this spreadsheet you can get this to an investor and they can see that if they Buy the property for $100K and put $40k into it they should be able to sell it for $175K in approximately 73.8 days based on the properties that have sold on the same street on the same lake in the last 8 months!!! In this case the property was listed for $105K, but my student got them down to $93K and they are going to make $7K flipping it. Tampa isn’t quite as competitive as Cali, but it is close. Trick is you need to go after deals that are extremely motivated and either get their first if it is already listed at a steep reduction, or be the one that makes them a strong offer when their ready to drop the price significantly. Also my most successful students in Cali use bandit signs and get to the buyer before the competition.
Hope this helps!
Cheers,
Dave
__________________
__________________
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
You need to get to the listing agent first and make your offers where you can easily prove to the investor that:
If they buy it for X and put Y amount in rehab, then they will be able to sell it for Z in less than 90 days on the market!
Take this property in Tampa (see spreadsheet)
Based on this spreadsheet you can get this to an investor and they can see that if they Buy the property for $100K and put $40k into it they should be able to sell it for $175K in approximately 73.8 days based on the properties that have sold on the same street on the same lake in the last 8 months!!! In this case the property was listed for $105K, but my student got them down to $93K and they are going to make $7K flipping it. Tampa isn’t quite as competitive as Cali, but it is close. Trick is you need to go after deals that are extremely motivated and either get their first if it is already listed at a steep reduction, or be the one that makes them a strong offer when their ready to drop the price significantly. Also my most successful students in Cali use bandit signs and get to the buyer before the competition.
Hope this helps!
Cheers,
Dave
__________________
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125