Basic Flipping Question - Posted by Tom

Posted by Scott OKC on March 30, 2002 at 23:48:30:

  1. This is a good plan if you can find someone who a) wants your junker, and b) has the cash to close the sale. Your investors will be the best bet for wholesaling properties.

  2. Why not put that you sell houses on your flier? Why only advertise to sellers? Even if you don’t have inventory, you can find out important information, like where people want to live (hense where you should be looking for properties). Also, you may find someone who has $20K to put down on your next house…you never know.

Basic Flipping Question - Posted by Tom

Posted by Tom on March 30, 2002 at 14:26:59:

Hi, I’ve been reading Bronchick’s Flipping Properties almost religiously for the past couple weeks and am getting ready to jump in. I’m looking at starting out as a dealer and working my way to retailer. Two questions that I have are:

1: Example is getting under contract a home for say $85k, maybe doing some basic cleaning that would take like 2 days, then trying to sell it to an individual for say $95k instead of an investor??? Would this be hard to double close or even possible to just “Assign To” since this person is not an investor??? I’m assuming that the closing date would be harder to meet with an individual.

2: When it comes to flyers, I obviously want to promote that I can help and that I buy houses, but should I add that I also sell houses?? I don’t want to get too far ahead of myself just starting out but wouldnt mind getting a pool of buyers that I have to call on if investors are hard to find…thanks everyone!! I’m sure I’ll have more questions but hopefully will be able to post about my first flip…