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I've been a residential realtor just over 2 years doing buying and some selling working with investors and owner occupants. Recenty I have gained access to an investor with a decent cash pile itching to make it work for him. My plan is to scour fsbos, for rent ads, the obituary, vacant listings with very high DOM, tax sales, make contact with probate and divorce lawyers and any other way i can think of to find deals. I've flipped a house before and while profitable for us it was a total pain in the rear end dealing with contractors. I've been thinking a lot about wholesaling and my general strategy would be to get a home under contract then market it aggressively to investors and eventually build up a contact list of investors looking to purchase our contracts. Purchase for very cheap, sell contract under market value and profit. I know that usually all cash offers require a much higher earnest money so we probably can't get away with $1k em and then bailing if we can't get a buyer. Trying to figure out good exit strategies for houses that don't get sold before closing. I'd like to make sure i'm only getting incredible deals so that if something looks like it isn't going to move we can just bump up the price very slightly to cover attorney fees and get it sold. Looking for anyone with experience in this field of real estate investing to tell me if/what about my general strategy is flawed. Thanks!
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Nov 11, 2015 16:14
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| # ¿ May 17, 2024 01:09 |
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