I have been scouring craigslist looking for deals. Is it okay to make offers on houses that other investors are selling dirt cheap in the first place? Then attempt to assign the deal? 3rd? If my offer is accepted do I then starting advertising the same property on craigslist etc.?
From what I’ve learned that is the concept, but did not start buying yet,JUST LEARNING to find out the real deal, this page could be a good learning source, but some info could be diseven, it can be difficult, because the real estate world is saturated with investors like yourself who all think alike.
It’s just like buying from anyone. Are you prepared to close…or lose your earnest/binder deposit? If you’ve got buyers lined up, you could approach the investor (wholesaler) with a proposal to split his assignment fee if you bring him a buyer (allowing him to continue marketing for a buyer). However, if you plan to drop hooks in the same pond the investor is, in order to sell the same house the investor is selling, you’re gonna end up with a black eye.
However, if you can bring buyers from a different source, you’re setting yourself up for success, and an ongoing and profitable relationship with that wholesaler.
You might be wise to build in a referral fee guarantee, so that you get paid each time one of your buyers buys from that investor.
Is it okay to make offers on houses that other investors are selling dirt cheap in the first place?
- Yes
Then attempt to assign the deal?
- It depends on what type of contract or title the seller has on the property, I imagine, but that shouldn’t be a big deal if done right.
If my offer is accepted do I then starting advertising the same property on craigslist etc.?
- I think that’d be kind of a waste advertising the same thing for a higher price on the same website, but there’s nothing stopping you from doing that. I think you need to build your own buyer list and market to them if you really want to get some results
How do you start a buyers list, besides putting up bandit signs,