BETTER than Wholesale flipping(w. fixer)… - Posted by mike
Posted by mike on January 25, 1999 at 19:04:28:
Find fixer upper, make sure ther is enough equity for profit margin, get a purchased agreement signed, and assign your interest in the property to an investor for a few Ks’.
Not bad but I’d like a heck of alot more money than a few Ks’!
Why not :
Find a property (preferably empty and abandond), offer under market value. Get an OPTION signed, not an agreement of purchase, also get the owner to rent it to you for say 6 months to a year. Do the cosmetics only (500.00 tops) ie paint, cuboard doors, lawn care, cologne up the toilet and away you go. All work takes little effort and no time(tops one week), if you’re a lazy ***, then pay someone a few bucks to do it.
Advertise…find buyer and sandwicharooney!
If the property is already rented than even better (just have pemission to do repairs and show the house)
How much profit to be made? way higher than a few Ks’
Only downfall I guess is that it might take a little longer to sell it to a regular buyer rather than to an investor…so what!..as long as you find a good enough deal where you can resell under FMV, than it should’nt take too long right?
Doing wholesale flips to investors is good to get the bread and butter on the table…but should’nt we capitalize on the profits ourselfves when it’s possible?
I WANT TO HEAR FROM ALL YOU EXPERTS …THANKS GUYS!!