OfflineYou would calculate the fair market value by getting comps from other houses in the area right and then showing them to the investor right ? Where are places to find investors. The investors that advertise, "WE Buy House Now, Any Condition," what it their general price range ? I have a property that I am interested in assigning after I talk with the seller. It is $490,000. Do think they would be interested ? When talking to the seller do I put a down payment of $100 bucks and tell them that I will come up with the money in 30-90 days, while unbeknowst to them I find another buyer to assign it over to investor. Should I tell the seller that I plan on assigning it over or keep that quiet from them ?
__________________
can someone please answer bossman question? I would like to know the answers as well thanx.
You don't need to show the investor the comps, if he's a savvy investor he'll already know the comps himself. Try to get lots of investors so you have more to market to. You can find them on craigslist, backpage, your little papers like the shopper, dandydime, thrifty nickel, pennysaver, etc. Then also in your local newspaper, homevesters is one, and go to an REI club in your area, they like hanging out there... LOL! Give them your cards and get theirs too. That way you'll have a bunch, and do this continually. The more the better for you. Before you lock up any deals, you need to have several exit strategies in mind, in case one fails go to plan b. Then when you lock it up you just market it for the price that YOU want, not what they want. You did the work, you call the shots, that's the beauty of having control of the contract. If it's a good deal, 60% below FMV or more, then you won't have any problems assigning it. As for telling the seller, make sure it's in the contract you use that you have the right to assign it. If he doesn't agree move on to another one. But always be up front and conduct your business with integrity.
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
This is a great answer...