Tim Conde may help me here..but you also can... - Posted by Javier


#1

Posted by Jason on December 08, 1998 at 14:21:15:

Run an ad:

Handyman Special,(Investor Special)Cheap, Won’t Last, Cash, 555-5555.

When they call, and you’ll get several calls, ask them:
Are you looking to buy a house to live in or profit on?
What do you look for?
Where do you look for?
Can I call you if I find another deal if you don’t buy this one?
How big of a deal should I call you on?

Ask every caller even if the first caller buys your contract…that’s your buyer list! Hope that helps.
Jason.


#2

Tim Conde may help me here…but you also can… - Posted by Javier

Posted by Javier on October 26, 1998 at 12:41:49:

I am a newbie with zero (o) money to invest. I read the article by Scott Briton about generating cash first.

It makes sense to start working on Flips prior to lease/options in order to generate some cash I do not have. But on the other hand, I need cash to buy that first property below market price. I think I may try owner financing…but is there any other wat to start? Is flipping a good point to start? what are the disadvantages?

I may find someone in the RE club who is starting too and wants to share profits from a flip. But if I have to start on my own, what do you recommend and why?

Thank you…I know I’llget a lot of help.

Javier Serrano


#3

Re: Flipping - Posted by Stacy (AZ)

Posted by Stacy (AZ) on October 28, 1998 at 10:45:30:

Javier-

The idea of flipping wholesale to start investing in real estate is a good one. The concept is to cultivate a buyer’s list of investors you can flip properties to, before you ever place one under contract. If you have a list of several buyers and their needs, you can then go out and find the properties that fit those needs. Then, if you find one, you call your investors and ask if they’d be willing to purchase from you (without disclosing the address of the property). If it’s a go, place the property under contract and get your investor involved. Flip the contract to him and collect your assignment fee.

If you have a list of solid buyers, you will never have to lay out more than $100 earnest money. No need to owner finance or have large sums of cash.

However, if you don’t have confidence that you will be able to flip a particular property to an investor, you should not place the property under contract, unless you could close on it yourself. So you can see, the buyer’s list is the key.

Stacy


#4

Re: Flipping - Posted by Tom

Posted by Tom on October 29, 1998 at 10:25:27:

I have really enjoyed reading your posts. If I recall you are actually in the computer field and doing flips as a means to “break” into real estate. Myself, I am a network administrator for a manufactoring company in Atlanta, Ga. It appears that you have had some success in doing flips. I would like to know how long you have been doing these flips, how many you have done, how long does it take to complete your deals, have you gotten burned, when do you think you might venture out to other areas of investing, etc. I am just wanting to get the perspective of someone thatis fairly new AND successful. I would really appreciate your feedback.

Tom


#5

Re: Flipping - Posted by Brian W.(Indiana)

Posted by Brian W.(Indiana) on October 31, 1998 at 23:01:00:

I am also in the computer field, and I am interested in hearing how you got started flipping properties. I want to start out this way also. I don’t have any money and my credit is bad. I was wondering if you can tell me how you went about acquiring your buyer’s list of investors ? Your response will be greatly appreciated.


#6

Re: Flipping - Posted by Steve

Posted by Steve on November 29, 1998 at 01:33:19:

I’m laughing because i am in the computer field also. I see all of y’all are in to real estate. I am also starting real estate investing (very novice). Anyway i guess the computer field isn’t what it used to be, ha. I want to start flipping too, if you could post the info on how to develop a buyers list would be great. Thanks.