Look in your local paper. There should be number of ads for I buy Real Estate. Read the How-to articles Quick Flip Primer 1 and 2 I think by J.P. there are a few questions in there that you should ask each one when you call. In my experience the ones I have called if they are serious have been really helpfull and excited that someone was out there looking. I moved 3 hours away and am in the process of doing the same in my new location. Did not have the time to do any deals from the time i started and the time I moved(about three weeks)
Looking for fast ways to find investors to do flips? - Posted by HC in Florida
Posted by HC in Florida on June 20, 1999 at 19:06:03:
I need to make a list of investors to flip rehaps to. What are some ideas on finding real estate investors that rehap?
I’m planning on focusing my real estate activities to finding rehaps and flipping it over to another investor in order to generate cash. I don’t have time to invest in the actual fixing up.
Dear H. C.,
I too was looking for people to “flip” homes and contracts to.
I looked in my local paper, and was unable to find one single ad saying, “we buy homes”.
So, I ran an ad for one week that said, “Do you buy homes for CASH! If so call xxx-xxxx, Investors welcome”
After one week we had many good buyers,and their buying criteria.
We did not get many callers that needed to be weeded outof the crowd, because our ad clearly stated that we wanted “CASH Buyers”.
Try it, it is a cheap easy way to get good buyers.
The way I built a buyers list is like this. I ran an ad that said this…
Fixer Upper Special (BOLD PRINT)
Cheap, cash, xxx-xxxx
Next, I waited. I ran the ad for 8 days. I got at least 15 calls a day. I live in Virginia Beach. (about 600,000 people here in Tidewater area) I now have alist of a LOT of people that want to buy junkers. Some are SERIOUS, most are not. You will weed them quickly. Here are the questions I always ask…
I run across these deals from time to time, and I simply cannot handle them all. Would you like for me to call you if I should come up with any more?
Is there any area that you are confined to, or will you go anywhere in town if there is a good deal?
When I call you with a deal you like, can you come up with the money and close quickly?
How big of a deal do you want me to call you with?
Write all of these down, and you will never have to run another ad again. You will also find some owner occupants looking for these types of deals. Owner financing a house after you get some capitol can be very profitable. Or you can create a note and sell it to a note buyer if they give you a decent down payment. Hope this helps.
Brad
Re: Looking for fast ways to find investors to do flips? - Posted by DavidH (MA)
Posted by DavidH (MA) on June 22, 1999 at 08:11:37:
Jim,
Great idea. I’ve always had a problem with the more fraudulent approach recommended by many which is to run the “Fixer Upper/Handyman Special, cheap, cash, xxx-xxxx” ad when you don’t have a house to sell, just to test the market or create a buyer’s list.
Of course, if you’re truly marketing a particular property, the “cheap, cash” ad would be the one to run. Thanks for presenting a great idea.