Probably the fact that the practice of “flipping” has had alot of bad press lately because there has been several cases of fraud. Not to say that it is illegal but most Realtors are very busy with this economy that they don’t want to deal with possible problems. I would just let the Realtors know you are looking at doing rehabs. In my opinion the newer licencees are the ones to ask for help as they need the business the most and also want the lower $ business. Just my 2 cents. Good Luck.
Realtors - Should I tell them what I REALLY want to do? - Posted by TimK - FL
Posted by TimK - FL on December 09, 1999 at 21:34:05:
Every time I tell a realtor I want to flip properties they never call me back. I’ve been thinking I should just tell them I want to fix em up. then, just do my flip without telling them. Can I get into trouble doing this?
Normally when i deal with a realtor i give them my criteria and if they ask i tell them i plan on keeping it as a rental Also i don’t use escape clauses realtors hate them, i just change the contract so if i default i lose my deposit (norm is about $250).
I good thing to keep in mind about realtors is if they haven’t heard of it or don’t know how it works they don’t like doing it.
Hope it helps, Good Luck
Jay
Posted by Jim IL on December 10, 1999 at 24:07:15:
TimK,
Tell them the truth, sort of.
Tell the agents that you are looking to “buy” properties that fit a certain criteria, and tell them what that is.
They do not need to know that you intend on flipping them.
Then, at the close, show the agent what you did, and how.
That is when they will listen to you.
And if they do not, find another agent.
Have fun and good luck,
Jim IL