Posted by CR Smith on August 05, 2007 at 20:23:04:
I would get the home first - there are too many factors to consider. In my [limited] experience, buyers are in a hurry to find something, and your list won’t be current by the time you do find a home.
Should I advertise for Buyers first? - Posted by me
Posted by me on August 05, 2007 at 14:59:57:
I really want to do a deal at least one. Should I look for buyers first then the home or the home then the buyers? There is a home but I dont have all the money for it. Could I find a buyer then get a down payment from them. So I could purchase the home then sign it over to the new buyer? Thanks
Re: Should I advertise for Buyers first? - Posted by Ryan (NC)
Posted by Ryan (NC) on August 06, 2007 at 16:37:44:
Look for the buyers and sellers at the same time, It’s rare that I keep all of our units in the paper at once… I’ll run a semi generic ad with some little extra special detail about one home and have tried and succeed in renting or selling up to 3 or 4 units off 1 or 2 ads.
Meanwhile start keeping a sellers list, it will provide you with a quick way to hook up buyers and sellers when you get the call… “I’m calling about your ad in the paper”, if the home you have isn’t what they are looking for (or have a contract) but they’ve got a decent amount of cash to work with ask the potential buyer what they are looking for and if you have anything on your list that might work you’ve got a chance to make a new deal.
I’ve heard the smart people round here say “if the deal is right the money is there”, if you can provide good stable returns to your investors and pay like clockwork you’ll have all the money you could ever need to do deals! Honestly, the ability to make good deals is more important than the money in a deal, there are lots of folks that have money sitting in banks earning
It depends - Posted by Dr B. (OH)
Posted by Dr B. (OH) on August 06, 2007 at 14:26:44:
Once again, it depends. If you think you’ve already got a smokin’ deal, you could partner with someone, find a buyer first, or option it. Read the plethora of archives on these.
Alternatively, wait till the seller meets the price you can afford or look for another deal that you can get for the money you’ve got.
Happy Trail(er)s,
Steve