The Reality Of Finding Buyers
I would like to hear from people who flipping properties in some way offering non-qualifying seller financing. How realistic is it to expect that if you place an ad you will get a some potential interest and be able to sell the property in a quick period of time?
I have a potential opportunity, but would need to assign a sub-2 contract fairly quickly. Can people recommend the best way of doing that?
I could have my first true no-money down (depending on how you define it) deal here, so your advice would be much appreciated.
It depends on your market and your property. Is the property your offering a highly desirable property such as location, # of beds/baths, etc.
If we have the right house and place an ad in the local paper our phones rings around the clock. You can help prequalify buyers by putting the payment and required down amount in the add if you are in a large area.
I am making the assumption you are going to do it on a Rent to Own and if you just put that in the paper with no numbers you will get a lot of lookers
We usually put in the lowest payment we would accept as rent and the word
or
and the smallest option money we will take.
If they have a lot of option money the we don't worry as much as a higher rent payment and crediting part of the payments back.
Keep in mind this doesn't maximize your profit, but helps move your property a bit faster in our opinion.