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Author Topic: Is This a good stratgey?  (Read 1993 times)

Offline 429112

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Is This a good stratgey?
« on: July 07, 2009, 12:21:41 pm »
I am a beginner(nothing new on this forum) and haven't even done a deal.   Hearing all of these horror stories its not likely that I will ever get started. I have a fairly good knowledge of real estate. So here is my plan for investing. I want to find distresses properties or owners place them under a purchase option and use a double close to do the deal.. just wondering some of your opinions?

Hooch

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Re: Is This a good stratgey?
« Reply #1 on: July 07, 2009, 02:50:14 pm »
Yes, you have a good strategy. You don't necessarily have to do the double closings though. They eat up your profit. Assignments are better. Most investors I know, including myself, don't care what you put it under contract for. All I care about is that it meets my buying criteria which is tight.

However, the best possible scenario is for you to build your buyers list FIRST. Active investors that are presently in buying mode. Then go out and find what they want. There is no reason to do this backwards like lots of newbie wholesalers do. It's too stressful that way. Realizing you have an awesome deal for someone in your hands and not having anyone that you can find who wants it. It's better to just call the people you already have the buying criteria for and selling them the property the minute after you have a purchase agreement on it.

Offline scostell

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Re: Is This a good stratgey?
« Reply #2 on: July 08, 2009, 03:50:25 pm »
Just remember to always being building your buyers list as the buyers you first put on the list might not be buying by the time you have a house.  Keep tabs on them if you can.
-Scott Costello
Free Lead Management Software -> http://www.StrugglingInvestor.com

Offline fadi

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Re: Is This a good stratgey?
« Reply #3 on: July 08, 2009, 08:44:29 pm »
I am a beginner(nothing new on this forum) and haven't even done a deal.   Hearing all of these horror stories its not likely that I will ever get started. I have a fairly good knowledge of real estate. So here is my plan for investing. I want to find distresses properties or owners place them under a purchase option and use a double close to do the deal.. just wondering some of your opinions?

429112, this is an idea or an outline, but not a plan. Your plan should be more detailed. Who are the best possible prospects? what are you going to tell them to convince them to call you? how are you going to reach them? what type of paperwork you need? how will you find the buyers to flip to?

As far as horror stories go, there are always horror stories in every industry. You do your homework right and you will be fine.
Location: San Antonio, TX
http://www.fadizeidan.com - All About Marketing Blog - A Must Read

 




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