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Author Topic: Questions Before I Find And Wholesale  (Read 1738 times)

Offline IceGear

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Questions Before I Find And Wholesale
« on: June 19, 2012, 01:49:25 am »
I'm new to wholesaling and have been studying this subject pretty much all over REIClub, and watched Frank Chen's youtube videos on wholesaling. There are some things that I haven't been able to figure out as to what types of other properties can be wholesaled. I know that distressed/vacant properties and distressed foreclosures are prime for wholesaling, but what about good properties in middle class neighborhoods that are 'for sale by owner', and require no type of serious rehab or fix-ups that a distressed house would need?

I know a real estate company that works as investors and with investors. They buy houses with cash, and also list other acquired properties at retail through their company. They also buy contracts (including assignment of contracts). If I find a house that is for sale by owner in a good middle-class neighborhood and the owner is willing to negotiate the price down from let's say $150,000, would I be able to wholesale that house to the company, or any other buyer I know that is looking for income property? If so, what formula would I use when coming up with an asking price for this particular type of property in a good middle-class neighborhood?


It's been very hard for me to find an investor friendly real estate agent or realtor to run comps and allow me to attempt to make my own deals, even though I offered to pay them a fee for the information they give. Are there any bank websites or other websites that I can use to gain access to the actual MLS that will give me all the information I need rather than just average sales comps that Zillow and other freebie sites only give? I would like to come up with a precise and accurate selling price for all my deals without figuring out, estimating and comparing several freebie comps that don't even give square footages on most properties, or price per square footage in a certain neighborhood.


Thanks!

Offline Real Estate Seller

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Re: Questions Before I Find And Wholesale
« Reply #1 on: June 19, 2012, 11:32:53 am »
It is not hard to find a investor friendly real estate agent at all. All you need to do is tell the real estate agent what you want to pay for the home and let the real estate agent go to work for you and you get a good deal and the real estate agent will make a commission and everybody come away happy.
I am the king of short sales.

Offline the maestro

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Re: Questions Before I Find And Wholesale
« Reply #2 on: June 22, 2012, 01:46:12 pm »
Don't look for houses... look for sellers' motivation.

If a seller is highly motivated, or in distress, and ready to liquidate at half price, then it could be a mansion and I'm all over it, even though I have no buyers for those types of houses.  Generally speaking, you're going to go after the houses, and neighborhoods, that your buyers want to invest in.  That's tip #1 for you... locate the cash buyers first.  Find out what they want, and where, and at what price and then go get it for them.
www.WholesaleCoaching.com - The most personal, direct, hands-on and 1-on-1 wholesale and REO coaching program on the planet!

 




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