Posted by KW on March 23, 2006 at 10:10:45:
Chris, thank you very much…I really appreciate it…Sounds logical and makes sense…I understand now…so in other words, if the seller of the property is represented by an agent, more than likely there is no reason to waste time?
Wholesale Question - Please Help! - Posted by KW
Posted by KW on March 21, 2006 at 10:04:17:
I am about to start wholesaling and I have a couple of questions: 1)I was wondering if the only way to find “cash buyers” is going to real estate club meetings in my area? Is there another way to find “real” cash buyers other than this way? 2) Also, is there any value in working with a real estate agent when wholesaling? If so, what is that value? Thanks for your replies.
-KW
FYI - Posted by RE King
Posted by RE King on March 23, 2006 at 01:08:52:
Kudos to those who have found cash buyers at RE Clubs, in my experience cash buyers don’t have time for that, they’re too busy playing the game not dreaming about it. RE clubs are havens for newbies, at least the ones that allow newbies in.
Not being negative, just trying to save you some time.
Cash buyers want a good price in consideration for the no-hassle offer.
Why wouldn’t a cash buyer show up with a listing, sign in yard and ad in the paper? They aren’t hiding. They want a good deal, if you can give it to them and make money, say “cha-ching!”. If you can’t, you’re looking for suckers and I don’t know how you can find them.
Anyone had a different experience with RE Clubs?
Re: Wholesale Question - Please Help! - Posted by thutch
Posted by thutch on March 21, 2006 at 18:20:15:
Another good way is to get a list of Section 8 landlords from your local housing office. This is public information and they will eventually give it to you.
I agree not to waste your time with realtors. The only exception might be to find the three or so realtors that deal with REO properties in your area. These realtors will have lots of investors they deal with. You will have to pay a commission but sometimes they just charge their buyer.
Also the best way I have found is to not go out of the house without my ibuyhomes.com shirts I ordered thru Lands End. I get people all the time who walk up to me and ask if I buy homes and they tell me that they do also.
Re: Wholesale Question - Please Help! - Posted by Chris in FL
Posted by Chris in FL on March 21, 2006 at 14:40:07:
KW, Local REIA is a good way, newspaper is as good or better. Run an ad “Handyman special, $XXk below value, must sell today, call KW at #123-4567”. Depending on where you live, your phone will probably ring off the hook. No disrespect to realtors, but they would be a waste of time and money when wholesaling. Your intent is to get deals that are enough below value that you can sell them, primarily to other investors, and leave money on the table for them (usually fixer-uppers). When selling houses this way (i.e. - cheap), a realtor would be a waste of money. These deals sell themselves.
Re: Wholesale Question - Please Help! - Posted by KW
Posted by KW on March 22, 2006 at 08:00:01:
Todd, thank you very much for the information…I really appreciate it.