how do you tell the seller that you are not going to buy their property but you are going to assign it ? problem is i dont want to cheat them into thinking that i will buy the property when I am going to help them find a buyer.
also, i dont want to put up sign saying i buy house when i am not. It is more like I help U sell.
The good news is we are closing on the same day at the same time…
The great news is I found a someone else who is getting a AWESOME rate and lowering the payment to move into your house so I do not even have to fix and flip it…
As far as the sign try this…
I find buyers… Not “I buy houses” that is boring anyway!
or
Call me before you call your realtor I have Qualified buyers looking for a house in this area!!
or
or
or
or
and it goes on and on! I feel like the mask “SOMEBODY STOP ME!!!” LOL
REMEMBER it is not your market it is your Marketing!!!
reoconsultants,
great tip… thanks
how do build a buyer list to match with the seller’s home ? I was thinking of running an ad and direct them to 24 hour phone service and then match them with the seller house according to their spec.
Are you signing a purchase and sell agreement with the sellers? If so, then you are under contract to BUY the property. So you are buying.
Does your contract have an assignment clause in it? If so, then you can legally assign your interest in that contract to another person.
Just to be clear here (Reo fails to remain clear sometimes ;D)
IF you are going to be finding properties and then assigning them to retail buyers, the ONLY way to legally do this without getting a RE license is to sign a contract to purchase (becoming a principle) and then assigning your interest in that contract.
And btw, be honest with your seller. If they know upfront that you are an investor and intend to make money from the deal, then there should be no problem with you assigning the deal to get your profit.
What you should be doing as a RE investor is solving the seller’s problem (which is selling the property FAST). If you do that, then you making a profit doing it shouldn’t pose a problem for the seller.
1-not enuff equity to list w/realtor, can’t come out of pocket with realtor fees or closing costs, most buyers today want seller to pay for most if not all cc
2-some realtors do not market houses very well, they just sit there in the MLS (note: not all realtors are like this. there are a LOT of great ones out there)
3-need to MOVE YESTERDAY
4-close to 1st late pmnt, cannot afford to keep house anymore, listing it sometimes just takes too long to sell-depends on market: ADOM too high!
I run an ad that says “House a financial nightmare?” .
call ( )-__
Gets me people looking for a home and those trying to get rid of one.
I do put numbers in though. Heh…
Hope that helps get the creative mind working.
my #1 problem is failure to find buyer to flip the property since i dont have a list of buyers ready…in CA, the holding cost for something this bad can make me a motivated seller soon.