Re: I need help Flipping properties for cash - Posted by al
Posted by al on October 27, 2000 at 22:43:30:
Once you find the owner, find out what he needs($$) to take this abandoned property off his/her hands. Then give him/her an offer low enough for you and your investor to both profit. If he accepts, whip out your purchase contract (make sure you have the right to assign contingency on the contract,closing date is at least 30 days away, subject to your partners approval and isnpection, the right to access property, right to place sign on yard etc., etc…)and have him sign it then and there. You now have this bad boy tied up!
Now you could do several things to find investors.
Advertise in your local paper that you have a " fixer upper" for XX amount of dollars, all cash deal and the ability to close quickly. This will have all the investors calling you.
You can call all the " I buy houses " ads in the paper.
You can visit your local REI club and network like crazy.
Don’t settle on one investor, allow all of them to see your property then take the best offer.
You then can either do a simo close or just assign your contract for a fee.
Assigning your contract is the quickest and most hassle free if your a newbie.
Hopes this helps.