Re: flipping… - Posted by SCook85
Posted by SCook85 on February 18, 2002 at 08:36:06:
Like anything else this is a maturing process. It is difficult for you to actually have buyers lined up when getting started out. You don’t know them and they don’t know you. They don’t know that you can actually find them homes an aren’t going to be willing to make any hard commitments until you do. As time goes buy and you have done a few deals you begin to know what investors like and you can feel rather confident when you buy homes of who is going to buy them from you.
Start compiling a list of people now. Preferably those who run I Buy Houses ads (make sure they aren’t newbies trying to do the same thing as you), Call on ads of people who have homes for sale with phrases like “newly remodeled”, “recently renovated”, owner financing, etc… These are most likely other investors who will be looking for new projects.
You may not sell your homes to this list that you compile in the beginning, but your list will grow over time and you will get to know the preferences of the people on that list over time.
I would suggest immediatly putting an ad in the paper, this is how I found most of my buyers and I still do it every once in awhile when my regulars are not in a buying mode.