Marketing to Buyers and Sellers

Got this from craigslist.com. "OPPORTUNITY KNOCKS!!!!!!!!!!THIS IS A 2 FAMILY WITH ADDITIONAL INCOMES,SITS ON 5 LOTS,2 CAR GARAGE AT DEAD END ST.THE PROPERTY IS TURN KEY.FULLY RENTED.GREAT INVESTMENT PROPERTY OR LIVE RENT FREE.BRAND NEW BOILER SYSTEM 3 ZONES.OIL.
GET IN WITH NO MONEY DOWN,I CAN SHOW YOU HOW! THE SELLER WILL HOLD FINANCING FOR A CERTAIN TIME AND PERCENTAGE OF THE MORTGAGE.YOU CAN GET INTO THIS PROPERTY AND HAVE A POSITIVE CASH FLOW,WITH NO OUT OF POCKET COSTS.THE SELLER WILL CARRY BACK 10% OF THE PURCHASE PRICE TO MAKE IT EASIER TO PURCHASE"".

OK, I was thinking about the process tonight and came up with a 7-step outline.
Feel free to make any comments or suggest changes.

PLAN:
You know what your buyer can afford (is comfortable with or qualifies for)

So, say he/she says they can pay a certain amount per month for rent/mortgage payment. This is how you will get them the property they want (at the price they want) with the profit YOU want.

1) Use the Renter Mortgage Affordability Calculator

"How to Get Sellers to Deed You Their House"

When a seller has little or no equity and good terms on their loan I ask them "Would you CONSIDER selling the house for what you owe?" By showing them what they would net after selling through an agent, paying closing costs, negotiating price, doing minor repairs, paying a commission and perhaps making continuous loan payments until it's sold, many times they see that they will net less than they think.

Do any of you require a non-refundable deposit from the buyer when assigning a contract? Is this standard? Is this paid to you or does it go into escrow?

I was reading something from a "guru" and he stated that his contracts are all done at "net" and that he get's a non-refundable deposit from buyers.

Any comments?

With so many of us struggling to find wholesale deals to pass along to investors (at 30%-60%off), what is stopping us from retailing properties to people looking for a home? I know there are a ton of properties out there for sale, but if we take the strategies we've learned and get some of these locked up at great discounts, there are a lot of creative ways to pass part of that equity onto a new homeowner and make some HUGE profits ourselves.
I would like to hear your thoughts on this. Pros and Cons.

Wholesaling – Secrets Of $10,000 Earners
By: Charles Petty
Submitted: 12:15PM on Friday 24 October 2008
The author has permitted the reprinting and redistribution of this article.

Your exit strategy is an extremely important part of your real estate investing business. In fact, it is one of the most important parts. Sometimes investors get excited because they learn how to buy properties, they find them and they have the money lined up to purchase them, and they do, But when they get them, they have no idea what they plan to do with them.

How To Identify Motivated Sellers
By: Omar J.
Submitted: 09:19AM on Wednesday 17 September 2008
The author has permitted the reprinting and redistribution of this article.

To find motivated sellers you have to look for them in the right places. It's sort of like fishing you want to go where the fish are biting and once you have discovered where they are biting you want to have the right bait on your line so that you can hook them and reel them in.

How To Set Up A Rocking And Rolling Wholesale Business
By: SeeMo
Submitted: 12:27AM on Monday 15 September 2008
Wholesaling houses is an art:

In order to wholesale there are a few elements that you have to put together. First you have to find a way to attract deals so you will have a product to sell. Without a product, you will not be in business. Second you need to develop a list of buyers for your product. Basically you are using the old system of supply and demand that was taught in economics.

Attracting deals:

Assigning To Other Wholesalers
By: Matt G.
Submitted: 12:12PM on Friday 15 August 2008
The author has permitted the reprinting and redistribution of this article.

ASSIGNING TO WHOLESALERS

As someone who has completed over 250 transactions in four states here is the rule on assigning to another wholesaler.

As a corporation we assigned approximately 20% of our properties to other wholesalers.

Don't Know What To Say To Sellers? Use A Script!
By: Omar J.
Submitted: 04:27AM on Wednesday 24 September 2008
The author has permitted the reprinting and redistribution of this article.

To ensure your success as a real estate investor you must be prepared to deal with sellers. The bottom line is you must know exactly what to say to them to get the appointment and you must know exactly what to say to them to close deals. In addition, when you are faced with objections from sellers you must have logical confident responses that will lead to the close and ultimately the deal.