OfflineGood afternoon to all,
Obviously a new kid here,
Been doing this for about 45 days and am having an issue(s). (wholesaleing)
Just bought Deans books and am looking forward to getting into them, however, here is my situation.
I have a house under contract and am about to have another soon. My cash buyer list is very week (about 5) and none of them seem interested. I have sent my deal out to another wholesaler who is trying to sell as well to his list.(50/50 assignee split for him if he can close) I am about 8 days away from the closing date. The seller is about to head into foreclosure and the mortgage co is looking for payment by next friday.
Any advice to get this deal done fast and help me expand my buyer list is appreciated. I will take less if I can help this guy out, but I believe it is a good deal.
Riding the roller coaster in SC
ARV/MKT value= 96K
Repairs = 8-10K
Price =57K
Look for the different people on this site (use search toolbar) for "use my buyers", or Carol's National wholeselling team. Try also to type in Google "I buy houses, cash for house, we buy houses, etc." and market to them. There are thousands of buyers there. Go onto craigslist, ****, and all the other sites you can and market that property. Put as much information as you can. How many beds, baths, sq ft. what repairs needed, location, etc, and any pictures you have would be great to know for them. Just post it anywhere and everywhere you can. Don't stop. Hopefully this will help stir up buyers for you. Keep track of everyone you talk to and if they are good (qualified) then add them to your buyers list too. Even if they don't take this property you will know what to look for afterwards. Good luck and I wish you all the best.
Richard
Bothell, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.
You could get an investor to catch up the payments that are behind. Stop the foreclosure, but get a document signed from the seller "authorization to release information". If you do this the owner should deed the property over to you so you can protect your money. The bank would then talk to you and give you the information about the loan and give you the amount to catch up the arrears. This will allow you to get the loan current and stop the foreclosure. Now you are not so much in a rush. You can then continue to market the property and sell outright. You can also place a tenant buyer and collect an option fee from the new buyer. After you cash out you and the investor can split the profits. You can also borrow the money from an investor and offer 12% ( or whatever you feel is a fair return) on their money, and when you sale you will repay the investor. Hope this helps
To get something you've NEVER HAD
DO something you've NEVER DONE.
for investors and financing options use
www.greenpearl.com
I highly recommend. Also there are several area specific threads. Create one for your area where you invest and expect to attract others in your area or those who would be interested. It's not as large in size as CL, but with the people on here, you can actually see what they do and what they look like in most cases
www.linkedin.com
I highly recommend because this is a larger version of greenpearl and you can more easily find cash buyers that really are cash buyers, investors, agents, mortgage brokers, etc alot easier and faster. Also there are threads on several topics that I suggest you read and give input to to get your name out there for when you want to befriend someone
Hope it helps