Posted by Clark Kent on July 24, 2007 at 03:22:36:
I know guys in my area who have been selling to Landlords (often out of state investors) at about 80% of value, with properties already rehabbed, and often with tenants in them.
However, in today’s market in Ohio, those out of state Landlords have dried up.
One of the guys who was doing this has now switched back to selling to owner occupants.
I would still like to think its a viable option, just be aware it may not be a slam dunk as it has been.
Business Model of Selling to Landlords - Posted by Stephen (GA)
Posted by Stephen (GA) on July 23, 2007 at 17:33:55:
I am thinking of shifting my business from buy low and sale retail to buy low and sale at 90% to landlords. Houses would be repaired to retail level and the landlord would simply need to turn the key and put in a renter/LO.
I’m looking to compile a list of people who own between 2 and 15 sfr’s in the area and market to them to see if they’d like to add another property to their portfolio. I’m also going to go to these rei seminars I see advertised in the local papers to offer turn key investments.
Has anyone been using a model like this? Any suggestions?
Thanks,
Stephen
P.S. Need to pay off $60K in debts from some bad business choices so buy and hold won’t work at the moment.
I think your target market is wrong. Landlords have been around the block a few times. They can access the same rehab skills as you can, perhaps better, cheaper and faster.
What you want are newbie investors (out-of area probably best) who want to get their feet wet.