Posted by Maurice (Ca) on June 03, 1999 at 15:47:51:
Here’s a newbie opinion:
You locate your buyer first because when you do find the property that you can flip, you want to be able to either assign/flip quickly. You don’t want to find your property & then have to scramble around to find your potential buyer/investor. I personally don’t think it’s a good idea to use too many contingencies in an offer: especially when dealing with institutions. Remember your buyer is going to be a bargain hunter looking for a deal & if they’re the right kind of buyer, they should be able to come to the closing table with cash & close quickly. Also remember, it’s easier to find a bargain-hunter like this then it is to find a great bargain property.
Well, again this is my opinion.
assignment’s - Posted by lew
Posted by lew on June 03, 1999 at 14:17:32:
Hello Everyone, Again!
From everything I’ve read on the site the ideal situation when flipping or doing assignments is to first advertise for buyers and then locate the property. How exactly can this startegy work to my advantage?? Considering I have a buyer but no property, YET. I need to generate some immidiate cash flow, and if i can get this process down this would be my means of generating that extra cash.
Lew
Re: assignment’s - Posted by SCook85
Posted by SCook85 on June 03, 1999 at 19:20:32:
It is suggested that you have a “buyer’s list” not just one buyer. You don’t want to become a person working for another as you seek properties. Realtors do that for a person at a time.
I personally think that you should be doing both at the same time. Your buyer’s list will always change, and you need a constant flow of inventory to supply those buyers with.
Finding properties takes time. They are not always a slam dunk when trying to put a property under contract. Negotiations can take as little as a few minutes and can sometimes take a few months as the seller becomes more motivated.
If you are seeking buyers and sellers at the same time things just seem to come together!
SCook85