Getting A Property Under Contract
I live in Il and would like to know if it is an easy process to get a property under contract and then find a buyer for the property and put my buyer and the seller together to close in which I'd make a small profit on the difference between my purchase price and my sell price to my buyer.
Depends on what you mean by easy. Do you mean is the paperwork hard to fill out or is it hard to find all these people? Filling out the paperwork is easy. Finding the people is not.
An example would be I find a rehab prop. for 12,000 - I don't want to mess with it but a alot of folks do in my area - So I contact one of my fixerupper friends and turn around and sell it for $15,000 to him where he does the work and still makes a nice profit. That's what I mean with finding the people. What I don't know are the steps to make that happen.
I just don't ever take title or own the property in anyway.[ Edited by handsomeprofit on Date 04/07/2004 ]
I get properties under contract but never occupy them. I get the buyer and seller together. My profit is the difference of what the selling price is and the appraised price. It is easy to get a seller under contract. The properties tab on this website is a start. for finding motivated sellers.
Buyers are easy to find. The buyers are usually investors and realtors. It depends on your advertising strategy.
What you're wanting to do is called either flipping, depending on how long you own it, or wholesaling. You're not re-inventing the wheel there, just lurk a little while, do some reading on this board, and it'll help you a lot.
it is easier if you already have buyers lined up, find out what your buyers need, and fill that need. Make them happpy and you will be happy
