OfflineHello everyone... I just started reading the book and am very curious about what Dean calls his "Wholesale" deals. Where you agree to purchace a propperty in forecloser and pass it off to another potential buyer... then charge a finders fee (usually 2-3%).
I understand how to find a house that is in forecloser... my question is how do you go about finding potential buyers to pass the house onto? I don't want to agree to purchace the house with out having someone ready to take it off my hands.
Please help me with this area. Thank you.
Tim
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From reading your forum it looks like you underlining question is how do I find buyers.
In answer to your question finding buyers is based on marketing. The more you market the more buyers you can find.
Here are some ideas you can do to market to buyers:
- Create a ghost ad in a local paper
- pass flyers out to local houses
- Pass flyers out to local shops such as wedding shops, the hospital and grocery stores
- Put out bandit signs
The key is marketing to what drives a buyer. Consider that most buyers cannot qualify through conventional bank methods. If you found a subprime lenders and/or allowed for creative purchases from a buyer you will market to the largest market and thus find more buyers that can purchase your properties. This will also allow you to create a buyers list for later.
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
Yes... my underlining question would be how do I find a buyer. Thank you for your response.
Another question to your answer is, am I looking to pass a house from an independent seller to an independent buyer (what I mean by independent buyer is a person who looking to purchase a home for themselves and their family) or should I be looking more for a investor type... someone who's business is real estate (someone like Dean who does real estate for a living). It seems like your response would favor the independent buyer.
I guess I'm worried about dealing with independent buyers and their commitment level. I feel like a investor type would be more stable.
I am REALLY scared about finding a great deal and agreeing to take the structured wholesale lease that Dean describes in his book and then NOT being able to turn it over to someone else and being stuck with the property.
Tim
tim, it really doesn't matter if you get stuck with the house and can't find a buyer.As long as you have the correct CONTINGENCIES OR CLAUSES you'll be fine no matter what happens, obviously you don't want to waste anyones time so just do you DO DILIGENCE and as long as you buy the property RIGHT- for the right price, good neighborhood, close to malls,shoppes,good location, you'll be fine.YOUR HERO,SULLY.
YOUR HERO, SULLY
Sully,
What are the correct CONTINGENCIES OR CLAUSES? That was another question I had.
Also where/how can I find interested investors that are stable? Where do I begin looking?
Thanks for all the help!
Tim