OfflineWhat do you do when you find a home listed for 400K, ARV 800K but it's in a rural area where homes don't sell very often to retail end buyers?
This happened to me and the deal could have been very profitable had I had some retail end buyers lined up. The comp. report showed one home sold for over a million dollars but was on the market over 700 days.
My wholesale cash buyers shied away from this potentially profitable deal because it would have been too hard to resell.
Any suggestions?
Greg
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Wholesale buyers are looking for quick turn around and almost guaranteed profits. They would need to factor a holding period into their computations.
In cases like this, you need to make the offer sweeter to entice them. This means that you may have needed to cut your profit margin or bring a tenant to the table.
Try and find you a bank that will refi you and keep as a rental.50% below market value! If I was a bank I would refi you.
Many Blessings!
Those can be difficult to do anything with because first of all it being so much money the people that can afford that is a smaller pool.
also since it is rural property that makes it worse because now our pool of people is really low.
With something like that we will need to find either retail buyers that want to live there or to be able to provide the investors with the retail buyers or renters just like campbellsimon said.
Hope that helps for the future.
ROI.
Think outside the box and use your Knowledge 'How' to put this deal together!!
Buy/hold, RTO, or Note Investors would Love to have this deal and YOU can get PAID.
STRUCTURE the Deal.
Dean Graziosi has wrote and taught HOW to STRUCTURE the deal.
THINK!! and get PAID!!
Mike
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