OfflineSo I ran an ad for a house that I am looking to have on contract by the end of the week and got a bite. To make a long story short the possbile buyer stated that the house was a little too big for what he was looking for. I then inquired, "well what is it that you are looking for" and we got talking about what I do. He immediately wanted to be put on my buyers list. He is also intrigued on what I am doing as HE normally buys houses, sits on them and trys to sell them. He now wants to know how we can help each other out. In addition, he owns a construction/property management business and does ground up builds, has his own rental props etc etc. I know we can help each other and I want to tell him I can, I just cant put my finger on the details on how we can? He has all the resources that I am looking for in a buyer; construction knowledge, prop management,landscaping and I assume he has cash if he is buying and sitting on properties!! He has even asked if there is more room for people to do what I do. (I am a little leary about telling him exactly how to do it as he has more resources at his fingertips and could easily take a good chunk of market away from me.) So to anyone who may have some input, how can I make the most out of this new found buyer?? Has anyone out there ran into this type of buyer and what is the best way to make this a win-win?
Thanks in Advance.
-Marc
Construction Firm wants to be on my buyers list..
Posted on: Wed, 07/21/2010 - 01:32
Construction Firm wants to be on my buyers list..
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- by msully1090
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Since he has properties that he has bought, rehabbed & is looking to sell,
you can bird dog & find buyers for him, & collect a fee. This gets you into his good graces, gives him more cash & you & him can partner up to buy wholesale, or even way below market with the techniques you have learned from Dean.(He probably does not know them). He does the same thing that Jill & I do, & we would jump at the chance to team up with someone local to wholesale.
He can give estimates on rehabs on distressed properties like REOs & do the work cheaper than the average contractor. With his cash & you know how, you get super deals, rehab, then flip.
Just think, you don't need trans funding, you got him, so no large costs.
Instead of trying to do a "double closing"(which some title companies won't do) you just buy with his money & sell to a buyer you have already lined up.
This can truly be a win-win !