Sometimes being honest is not the same as being polite. The key is encouraging and basic courtesy and respect.
Forum rule 6:
"ARGUMENTATIVE TCI forums are positive and encouraging. Forum posts with or without the use of profane language that are bashing, accusatory, name-calling or argumentative in nature, or demonstrate a lack of basic courtesy and respect for another member"
Your best bet is to find your buyers ahead of time and then look for properties that match their interests, rather than finding properties and scrambling around looking for buyers that match the property.
In todays market their are plenty of good deals and buyers are more scarce, so you need to put your primary focus on finding buyers ahead of time.
Try running ads on craigslist, rei meetings, contacting local hard money lenders, talking to realtors about their buyers, etc.
Pretty soon my favorites list gets very long and I have a hard time finding what I want. I needed a better way. As I am not a computer person I am sure there are better ways to make list but here is what I did. It might be of value to others. I opened/made an excel spread sheet, I paste my links into the first column, then go to the second column and type in several words that might relate to the site. Now all I have to do to find the site is open the spread sheet, click on edit – find – type in a word that matches what I am looking for and click "find next". Click "find next"again if the first find is not what you are looking for. Example of my layout
Column one Column two
www.thecreativeinvestor.com real estate how to TCI properties forum
www.1001fonts.com Fonts letters print
I also put my user name and password in column two (in code) For example if my password is “browndog” I put “best friend brownie” or some such nonsence. Its just a memory jogger. Hope this is of value to someone. Anyone got any other suggestions that might work better?
Depends where you are located. In times like here in Philly area the market is soft. Contractors/rehabbers are looking to make two things, Return and a baseline amount minimum. In this market you need to start at 60% ARV around here.
To find rehabbers go to your target areas and drive by. I meet the guys that are doing work and give them my card. Ads in classifieds do not work so well. definitely Join REI clubs.
Hang ups are a matter of approach. Maybe it is your pitch when you call? What do you ask them?
Joe
In my market you can find decent rehab homes on MLS listing, however, to make the big wholesale deals you need to find a bank contact and have low pricing...Pricing drives everything since most people figure their profits at the time of purchase. Before you approach any bank be sure to have your ducks in a row when it comes to proof of funds, insurance, buyers, etc...Best of luck!!! DP
Thank you for your quick response. How do you go about offering a price to the home owner?
F that crap ..... Put a For Sale Sign in the front yard...
They will call you...
[ Edited by MichaelQuarles on Date 05/27/2008 ]
Darn good ideal Micheal! Thanks
I thought all of us sold the property before we own it....
And chris how the heck is honesty considered rude?
Michael,
Sometimes being honest is not the same as being polite. The key is encouraging and basic courtesy and respect.
Forum rule 6:
"ARGUMENTATIVE TCI forums are positive and encouraging. Forum posts with or without the use of profane language that are bashing, accusatory, name-calling or argumentative in nature, or demonstrate a lack of basic courtesy and respect for another member"
Rent it out and wait for the market to improve.
Save you a lot of taxes if you make a profit, also.
Chris
Your best bet is to find your buyers ahead of time and then look for properties that match their interests, rather than finding properties and scrambling around looking for buyers that match the property.
In todays market their are plenty of good deals and buyers are more scarce, so you need to put your primary focus on finding buyers ahead of time.
Try running ads on craigslist, rei meetings, contacting local hard money lenders, talking to realtors about their buyers, etc.
Add them to your Favorite Prospects List:
http://youtube.com/watch?v=TAsMvyorN-4
Pretty soon my favorites list gets very long and I have a hard time finding what I want. I needed a better way. As I am not a computer person I am sure there are better ways to make list but here is what I did. It might be of value to others. I opened/made an excel spread sheet, I paste my links into the first column, then go to the second column and type in several words that might relate to the site. Now all I have to do to find the site is open the spread sheet, click on edit – find – type in a word that matches what I am looking for and click "find next". Click "find next"again if the first find is not what you are looking for. Example of my layout
Column one Column two
www.thecreativeinvestor.com real estate how to TCI properties forum
www.1001fonts.com Fonts letters print
I also put my user name and password in column two (in code) For example if my password is “browndog” I put “best friend brownie” or some such nonsence. Its just a memory jogger. Hope this is of value to someone. Anyone got any other suggestions that might work better?
Depends where you are located. In times like here in Philly area the market is soft. Contractors/rehabbers are looking to make two things, Return and a baseline amount minimum. In this market you need to start at 60% ARV around here.
To find rehabbers go to your target areas and drive by. I meet the guys that are doing work and give them my card. Ads in classifieds do not work so well. definitely Join REI clubs.
Hang ups are a matter of approach. Maybe it is your pitch when you call? What do you ask them?
Joe
In my market you can find decent rehab homes on MLS listing, however, to make the big wholesale deals you need to find a bank contact and have low pricing...Pricing drives everything since most people figure their profits at the time of purchase. Before you approach any bank be sure to have your ducks in a row when it comes to proof of funds, insurance, buyers, etc...Best of luck!!! DP