OfflineHi there - I posted the below deal Saturday morning. The response was no where near what I thought it would be. I only received one PM.
I am therefore assuming there was something wrong in my message. I would sincerely appreciate as much input as possible on what I posted so that I may have better success with the other deals I have ready to announce.
The subjuct was: Profitable Wholesale Deal in Massachusetts
Thanks in advance for your input. Here is the post:
Hi Folks
I have a fantastic wholesale deal available in Dudley, Ma in Worcester County. There are two properties on one lot. A nice, large 3BR Cape and a 2BR ranch. Here are some quick data points:
ARV: $250k
Rehab costs: $30k
Purchase Price: $113,000
Assignment Fee: $6500
Quick Profit: $100,500
Cash on Cash Return: 67.2%
Could flip for quick profit or rent for cash flow at $2200/month
Let me know if you are intersted and have any questions
I look forward to hearing from you
Dave Visco
Did you post on DG, in the classifieds? If so that may partly explain the lack of response. Do you have a buyer's list established? Did you post it on Craigs List? First thing I noticed was your return was off. You didn't allow for holding costs, real estate sales commission, or the cost of money if it wasn't a cash deal. Maybe the numbers being off made it look like a ghost ad. There are 3 real estate clubs in Lowell, Quincy, and Newton...Did you post there? It may boil down to if you only posted on DG, there weren't that many people interested in MA real estate. DG is more of a learning environment than a buying environment.
sounds like you have a good deal there, but you're trying to sell it to many investors here who are also looking for deals to sell. You need to advertise it to investors who are looking to buy; landlords or wholesale investors; you can find them in REI clubs in your area, or on Craigslist, etc. As Tom says, make sure your numbers are spot on when you present them to your buyers.
Wishing you success,
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
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this site is mainly for people learing how to invest, buyers dont really come here to look for deals. Put it on Craigslist with a bold, catchy headline. It will sell.
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
My point of the post was to see if my original DG post with this deal had any issues. While I realize people come to this site to learn (as I do) many, many of the wholesale investors say they buy RE all over the country. This is a great deal, so I was just trying to find out if I should have posted it differently. i.e. layout, wording, terminology etc. Thanks again for any additional input you may have
Dave Visco