Check with inspector, you may be able to buy permits to put bandit signs out to help your flipping, marketing and wholesaling business.
Property needed paint & carpet so estimated about 5k on fix up. So bought it for 25k and sold it w/owner financing. Might not work in today’s market, because people are not paying 90% or more for the notes (i think).
He’s currently buying from 30-60k and fixing up 5-15,20k and selling 80-130k. Shoots for 65% arv.
His website (SEO’d) generates alot of leads for him. FlippingJunkie.com
Listsource 50% or more equity.
Out of state: You want list of 3, 4, 500 – 1k (not 200) & don’t expect to mail to 50 and get a deal.
Yellow letters you get higher response rates, but quality ain’t as good/not close as many deals.
Post card: “Call for free recorded message.” (maybe will convert some of them)
Mail every month, post card, letter, post card… usually he would get to 3 or 4 in the series and have a deal. So mailing 7 times does get you more response, but maybe unnecessary.
Can Sam or someone do books for ½ day/week?
Staging can sell property in a day or 2 v.s 30-90 dom… again Sam? N rent staging 3 houses.
If too much competition i.e mls, weave wen dey bob. Motivated sellers.
They tend to buy: Unearned equity from inherited.
Website: What’s ur asking price? Further down the page “What’s the least you would take?” almost every single person will reduce that from 5-20k. “Is that the best you can do? Once they submit short form, then it takes them to longer form, which helps the analysis so don’t have to do 1000 questions on phone.
If you can find seller/multiple properties then you can score bigger. Or just one expensive property. Or gravy-carpet and paint.
Do “we buy houses” or some tag i.e “buy houses” “sell(ing) my house fast” post on website. (good keyword)…find popular keywords (in my area)
Set up f.b fan page to link to website. F.B also to sell a house.
Rentals for tax savings.
Long-term selling strategy is owner financing.
Wholesale is awesome because don’t have to deal w/contractors & don’t have to deal w/selling FHA 90 term. You can get not only 3,4k but 10-20k/deal can be done often.
Find Great DEAL and you will only need a handful of buyers. Wave enough meat on the bone and usually the 1st or 2nd guy will take it.
Give them 12-24 hours exclusive notice or right to buy the property. They will go look cause they know I’m giving them 1st dibs. “You should go look at this property, it will resell for xxx, estimated repairs are xxx and way to get into the property, pics, video.
Hard money: Okay at first, bake the cost into the deal & they will protect you from getting into a bad deal.
Find the RIGHT buyers. Make quick decision and not call you 3 days later and ask you about roof. Best way–find the ones who are buying the bank owned properties. Any realtor can do a search for bank owned properties bought for cash 3-6 months. Address to look@ county records and look to see who bought those n’ send them a letter or find way to get a hold of them and say “would you like more deals like this do you want more houses at a deep discount? If 3 or 4 houses of the 15 were bought by same guy, that’s the guy you wanna get a hold of.
Occupied: Take a million pics/video. Once buyer willing to commit, and maybe have a contingency in contract to have access to schedule a showing.
If vacant “do you mind if i put lock box on it and give you the code and put on front door.” Then you can bring contractors/subs through to look at repairs while lining stuff up for closing. Valuable in house might not want to do it, but most will.
Non refundable deposit to title company. Serious buyers won’t have problem paying 2-3k on a good deal, especially once you’ve proven yourself and you know that they are going to close it.
“Closing is going to be on or before DATE.” Find buyer right away and close as soon as you can within reason, sometimes seller needs some time to get stuff out.
Marketing to sell: If your handful of buyers don’t want it, stay up til midnight–put up C.L ad, call/market to find buyers, maybe putting up flyers.
Immediately start marketing it. Close it on time=happy buyers.