Flipping Tax Sale Properties?
Hello all-
I recently attended a city tax sale (actual properties, not liens), and won the bids on a couple of single family homes in stable neighborhoods.
I made a downpayment, and have until Dec 17 to pay the balance and receive the deed from the city. The houses look fairly decent from the outside, and I figure I got them at 30-40% of after repaired value. At this point, I don't wish to do any fix up myself, just turn these over quickly to a rehabber. Any suggestions on the best way to do this?
Arwen,
Sure, three places to seek out end buyers/rehabbers for your deals:
1. Local REIA club, go there and pass out a flyer with the info on it about your deals.
2. Call local investors advertising in your area.
3. Run an ad in the paper......something like this:
"Do you buy houses for CA$H?
Fast Close needed!
Rehabbers/Investors welcomed
Call: 555-5555 TODAY!"
I used this when first starting a few years ago. It helped me build a list of buyers locally. From the calls I recvd, I made a list of who could close fast, and what their buying criteria was. When they called, I had them go by and look at my deals, and make offers.
If you have a true good deal, the money or a buyer should be easy to come by.
HTH,
Jim FL
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