Posted by jerry on July 13, 2002 at 02:12:47:
In support of Brian Powers’ post, I clearly said I wanted to be the flippee, not the flipper. I am LOOKING for properties under FMV. I am NOT looking for financing, so however well-meaning Mr. Baker’s post may have been, it’s off the mark.
BUY FLIP AS AN INVESTOR? - Posted by jerry
Posted by jerry on July 12, 2002 at 16:46:00:
I keep reading about investors who buy flips from other investors at 70% of FMV. Also investors who find deals and flip them to other investors at 70% FMV while keeping $5-10K for themselves. Great. I’m a newbie in the NW suburbs of Chicago and would just love that kind of opportunity, but I suspect it’s not for real - or is it? How would I go about finding this kind of opportunity in my limited geographic area? I have financing if I would have the week’s time to get title checked and comps/rehab costs to cover myself. Or is that not how it works?
Re: BUY FLIP AS AN INVESTOR? - Posted by Dan Baker
Posted by Dan Baker on July 12, 2002 at 22:00:39:
Investors really do exist
OPPORTUNITY TO WORK WITH AN INVESTOR / BUYER WHO HAS CASH AND CREDIT
I am an investor looking for single familys priced below market.
I am not one of the ?no money down? crowd with no credit or bad FICO scores.
I am a serious investor who has several hundred thousand in cash and I am pre-qualified with Greentree Funding for up to $900,000 for a purchase money mortgage based on a non-owner occupied loan at 90% LTV.
If you are interested in working with me to find these situations, I would be interested in forming an alliance with you. Please call me to discuss how we might work together
Dan Baker
Phone 949-795-0491
Cell 949-795-0491
Fax 949-489-3211
Re: BUY FLIP AS AN INVESTOR? - Posted by matt
Posted by matt on July 12, 2002 at 17:37:55:
Find a local investment club and talk to all the players involved in the flipping business. Then you’ll know people in your area to flip to and also to buy from.
matt
Re: BUY FLIP AS AN INVESTOR? - Posted by Brian M. Powers(MI)
Posted by Brian M. Powers(MI) on July 12, 2002 at 17:27:24:
when you are flipping you are merely getting the house under contract (purchase agreement , option, etc.) and the assigning that contract for a fee. so financing is more of a contingency plan when flipping (in case you cant find an investor to flip to) that is needed in case you do actually have to close on the home.
BMP
Re: BUY FLIP AS AN INVESTOR? - Posted by David Garcia
Posted by David Garcia on July 12, 2002 at 16:51:38:
I’m an investor that will be moving to NW Chicago in 1 week. I can teach you some techniques on how to buy homes & sell for a good profit.
David (843)293-1018
no soliciting (ATTN: JP/Jeanne) - Posted by Brian M. Powers(MI)
Posted by Brian M. Powers(MI) on July 12, 2002 at 22:15:04:
dan:
i will leave it up to the fine folks who own and manage CREONline to determine if this is solociting and in violation of the editorail policy.
you have emailed me twice today, unsolicited, pitching what it is you have to offer. i have asked you both times to please stop sending me the emails. i presume you lifted my address off this site so i will politely ask yet again for you to stop.
BMP
Re: BUY FLIP AS AN INVESTOR? - Posted by jeff
Posted by jeff on July 12, 2002 at 17:43:04:
actually, contract asignment is only one way to flip. there are several techniques used for flipping properties that doesnt require not even one penny out of yuor pocket. contract assignment is the quickest usually if you have your contacts in order, but it is not as profitable as the rest usually.
I want to be the flippee, not the flipper. - Posted by jerry
Posted by jerry on July 12, 2002 at 17:37:37:
I would love to have so many deals that I couldn’t handle them all and would have to flip some, but as a beginner looking for a deal, I want to be the flippee.